Cairn Energy Share Chat (CNE)

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Cairn Energy	LSE:CNE	London	Ordinary Share	GB00B74CDH82	ORD 231/169P

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	-0.30p	-0.17%	174.70p	174.20p	174.60p	177.70p	172.90p	175.10p	1,284,204	16:35:04

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Oil & Gas Producers	0.0	-122.7	-13.4	-	1,018.91

Cairn Energy Share Discussion Threads

Showing 14451 to 14475 of 14475 messages

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Date	Subject	Author	Discuss
20/7/2017 07:43	http://www.woodside.com.au/Investors-Media/announcements/Documents/20.07.2017%20Second%20Quarter%202017%20Report.pdf Page 6 re Fan south "did not meet pre-drilling expectations".	rogerlin	Read Full Thread Reply
15/7/2017 08:32	Yes frazboy thanks for that well informed comment on Kraken. It would be nice too to hear of the sail away for Catcher. PMO's latest comment is "Catcher on schedule for 2017 first oil; FPSO mechanically complete and final commissioning is well advanced prior to sailaway to the North Sea".	rogerlin	Read Full Thread Reply
14/7/2017 12:42	Thanks, Frazboy. :-)	ed 123	Read Full Thread Reply
14/7/2017 12:32	Afternoon Ed, I've done a little more research on the well location (using marine traffic (on the rig name), google maps, the seismic sections in the PMO handout etc) and I've come to the conclusion that the well is located more towards the eastern side of the PMO block, so it's unlikely, but not impossible, that this structure spills into our block. However, the block would still appear to be very prospective. I have re-entered here, but I'm holding back from taking a serious stake until we get news on... Kraken. It's almost half of my base valuation for the company - so I'm waiting for news that things are going approximately to plan (for what it's worth I see two technical risks i) 1000m HZ gravel packed wells are quite difficult to gravel pack! ii) i noted that the pumps (not ESPs) they were using had only been used in one other field). So I'm waiting to see how frequently those tankers offload (or for the Enq first half results due in early September). We have a 600k capacity on the FPSO, and i doubt we'll be producing at more than 10k - 20k bopd right now, so there's plenty of time to see the bits of the jigsaw fall into place. No particular thoughts on the OP, the super boom in investment from 5-7 years ago is still making its way through the system and masking the decline at the mature reservoirs. I'm optimistic 18 months out that we will see a higher price.	frazboy	Read Full Thread Reply
14/7/2017 12:02	Hi all. I bought back in this morning. Had been watching for a while. Thanks again to Alan@bj for clarification of the India tax dispute. Thank also to Rogerlin and Frazboy. As we know, and the share price has fallen with the sector due to the poorer outlook for oil. Maybe the market starts to tighten by year end, though, as some suggest? Senegal is going well but what finally swung it for me was those Mexican blocks. Yes, very early days, and it might come to nothing in Mexico. However, Cairn's blocks look huge and in the right place. If they hit something big (next year perhaps?), then even at $7/bbl post tax and post royalty (Have I go that right?) it could be big for Cairn.	ed 123	Read Full Thread Reply
14/7/2017 11:19	a little more information on the blocks here: hxxp://www.citlaenergy.com/news/citla-energy-wins-three-blocks-in-mexican-shallow-water-auction_11	frazboy	Read Full Thread Reply
14/7/2017 11:09	Nice work Rogerlin It's block 9 that's next door which is Operated by Cairn (65% WI). PMO stated in their press annoucement that the structure appeared to be lap into the next licence area ("initial gross original oil in place estimates for the Zama-1 well are in excess of 1 billion barrels, which could extend into a neighbouring block") so even without drilling a wells or spending any serious cash we could see a few pence of accretion. Reasons for optimism if nothing else.	frazboy	Read Full Thread Reply
14/7/2017 10:34	I thought the licence next to pmos was pemex which is due to be relinquished in august	robizm	Read Full Thread Reply
14/7/2017 10:32	http://www.premier-oil.com/sites/default/files/presentation/zama-discovery-interim-update_0.pdf Diagram on page 3, not easy to make out the small print but one of Cairn's licences seems fairly adjacent to PMO's block 7.	rogerlin	Read Full Thread Reply
13/7/2017 23:18	Do you have any information you would like to share chrysaor?	frazboy	Read Full Thread Reply
13/7/2017 19:16	Kraken? Great question...	chrysaor	Read Full Thread Reply
13/7/2017 11:20	I still haven't been able to find a map with both CNE's licence and Zama on it but it looks as if they are different block 7's because awarded in different rounds, and I saw a statement that the licence adjacent to Zama was held by Cemex. So likely no direct read through for CNE but perhaps they will issue a diagram some time! I think the tax in Mexico is high and so that will affect the value.	rogerlin	Read Full Thread Reply
13/7/2017 10:40	I was speaking to a Geologist friend about the PMO discovery last night, I was expressing surprise at the discovery of such a large find in a 'mature' basin in shallow-ish waters near-ish the coast. it doesn't particularly help understand the value of Cairn's Mexico blocks, but he commented that it was to be expected that a NOC would be less than competent in its exploration. Like you I couldn't find good information on the block location, but the setting is similar (depth, distance from shore) so I'm hopeful that CNE will find something worth drilling in a couple of years time. However, it looks like the PMO find has been valued at roughly 1 to 1.5 dollars per bbl of recoverable (25% RF * 25% Working Interest * 1.5 bn STOIIP * price) giving a valuation of ~$140m. If you take those numbers at face value then CNE would have to find something pretty bit to be material.	frazboy	Read Full Thread Reply
12/7/2017 15:10	I think both Zama and one of ENI/CNE's licences are block 7, but can't so far find a diagram to show them. Edit. A start but not entirely helpful as it doesn't show where Zama is. http://www.ogj.com/articles/print/volume-115/issue-6c/general-interest/mexico-awards-10-of-15-shallow-water-blocks-in-latest-bid-round.html	rogerlin	Read Full Thread Reply
12/7/2017 14:43	https://uk.advfn.com/stock-market/london/providence-resources-PVR/share-news/PROVIDENCE-RES-Southern-Porcupine-Basin-Drillin/75218569 Perhaps hopes for an elephant in the Porcupine.	rogerlin	Read Full Thread Reply
12/7/2017 13:25	Bit bemused by the spike this morning, perhaps a reaction to the PMO Mexican discovery. I've not researched to see how close their block is to Cairn's block. Or, perhaps just a reaction to the oil inventory data. Or a combo, obviously, but the algo iceberg trades seem to have pulled it back down. I wonder how Enquest are getting on with Kraken...	frazboy	Read Full Thread Reply
11/7/2017 11:29	Yes, they trade in and out.	ed 123	Read Full Thread Reply
11/7/2017 11:18	I gave up trying to understand what Blackrock do long ago. Not just with this share, but with several others I've followed. They seem to reduce their holding one week, then increase it the following week, and vice versa.	alan@bj	Read Full Thread Reply
11/7/2017 09:06	Non-commercial results. No surprises there. Question: Does anyone know exactly what Blackrock are doing? I can follow most announcements but I am at a loss to understand theirs.	frazboy	Read Full Thread Reply
30/6/2017 10:19	Thanks Gents. I did hold some of these but sold out as I was expecting further weakness, but I'm looking to dip back in. Interestingly, the valuation of the three core assets in my evaluation (SNE, Kraken, Catcher) is now approaching the current market cap. The share price has been underperforming for quite a while now. I think you're right about the headwinds (I struggle to understand FAR's real motiviation, and I feel that the Indian government will slap some other retrospective tax claim on the company should they win the arbitration case) but there does appear to be real value here even with modest optimism over future oil prices (anywhere north of $55 after next year).	frazboy	Read Full Thread Reply
30/6/2017 09:19	http://subseaworldnews.com/2017/04/28/bw-catcher-fpso-named-at-keppel-shipyard/ News of this sail away would be good too, but who knows when it will be. Perhaps CNE might sell out of Senegal, if there is some upheaval in the joint venture with the FAR pre-emption rights, we know that Total are interested in this region?	rogerlin	Read Full Thread Reply
30/6/2017 09:03	Hi Frazboy. Good points, Rogerlin. :-) My thinking, fwiw .......... More widely, it's a nervous market - uncertainties, eg. Brexit for UK but also globally leaning towards rising interest rates. For Cairn, Senegal's value is of course geared to the market's view of the long term oil price. Also, that India dispute is a major uncertainty - susceptable to swings in sentiment until judgement day arrives.	ed 123	Read Full Thread Reply
30/6/2017 08:45	http://www.upi.com/Claims-over-emerging-oil-basin-in-Senegal-grow-heated/3901497956585/ Perhaps the prospect of arbitration over pre-emption rights in Senegal is not enchanting. But we should hear the result of Fan South any day now and also the Druid drill in the Porcupine will begin soon in which CNE now have a stake, an exciting prospect.	rogerlin	Read Full Thread Reply
30/6/2017 08:30	Further price weakness this morning which is a little surprising given the modest recovery in oil prices. Anyway know what the reason may be?	frazboy	Read Full Thread Reply
26/6/2017 07:15	Kraken first oil... http://uk.advfn.com/stock-market/london/enquest-ENQ/share-news/EnQuest-PLC-Kraken-First-Oil/75106899	steve73	Read Full Thread Reply

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