Sterling Energy just reported.
Their full report can be seen.
http://www.sterlingenergyplc.com/ProposedS...USBusiness.aspx
Much of what they say does not relate to BUR, but the bit below on their Marlin 1 Well does.
This is a joint venture.
BUR has a working interest in the Marlin 1 well of 29.69%
The extract from Sterlings report follows
.........................................................
"Sterling’s U.S. operations include a substantial inventory of low-risk development and exploration projects, primarily in the onshore Gulf Coast and shallow water Gulf of Mexico.
On 14 March 2008, Sterling announced a gas discovery from its Marlin #1 well. The well has since come on stream at initial rates of over 4.5 mmcfged (750 boed) net to Sterling, some 25% higher than the initial announced test rate.
An offset to this well is scheduled to be drilled in May."
..........................................
For those that follow BUR, no expanation is needed.
It is excellent news.
For those that don't follow BUR... it is worth having a look on the BUR website
The company is undervalued imo
Cheers,
Bendigo
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