Share Name Share Symbol Market Type Share ISIN Share Description
Cairn Energy Plc 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
  1.70 0.96% 178.00 176.80 177.40 181.30 176.80 178.00 805,648 16:35:04
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 321.7 -992.7 -153.4 - 1,049

Cairn Energy Share Discussion Threads

Showing 14401 to 14424 of 15325 messages
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DateSubjectAuthorDiscuss
14/6/2017
07:34
http://www.youroilandgasnews.com/woodside%2C+far+dispute+erupts+in+senegal_142790.html Please not another legal dispute. One is enough.
rogerlin
13/6/2017
15:28
CNE is looking good to me know. I'm in for a very healthy stake.
bigdazzler
06/6/2017
07:17
https://uk.advfn.com/stock-market/london/providence-resources-PVR/share-news/PROVIDENCE-RES-Providence-Resources-P-L-C-Lice/74921188 Confirmation of stake in Druid/Drombeg drill. The Stena Icemax is still sitting in Gran Canaria.
rogerlin
26/5/2017
06:54
http://far.live.irmau.com/irm/PDF/2305_0/SpudoftheFANSouth1deepwaterexplorationwell
rogerlin
22/5/2017
19:35
Macquarie Raises Target Cairn Energy PLC (CNE) Outperform GBX 246 -> GBX 270
eipgam
22/5/2017
12:22
Good to see director buying!
mick
22/5/2017
09:39
ADVFN's Market Bulletin today:- Cairn Energy was lifted by an upgrade to 'outperform' at Macquarie.
alan@bj
18/5/2017
18:48
Perhaps a change due to the arrival of Woodside? Anyway market seems to approve today!
rogerlin
18/5/2017
11:51
I had been wondering about that Rogerlin - the Fan South must be fairly marginal given the size and water depth etc
frazboy
17/5/2017
09:50
Cheers Ed - You set me on the "man on a mission" path! The information is accurate, direct from the company.
alan@bj
17/5/2017
08:07
Thanks - funnily enough that contradicts the Edison report from a few years back which suggests that the liability could exceed the value of that stake (the share holding in Cairn India/Vendatta). Regardless, I don't expect the Indian government, or Cairn, to hand over anything
frazboy
17/5/2017
08:05
Thanks, Alan@bj. Given an uptick. :-)
ed 123
17/5/2017
08:01
For the avoidance of doubt:- No indemnity arrangements were entered into in respect of the tax demands served on Cairn UK Holdings Ltd and Cairn India in 2016. The tax demand in India was served on Cairn UK Holdings Limited (a subsidiary of Cairn Energy). Any liability is ringfenced to the assets of that company alone, which are principally the shares in Cairn India already ‘frozen’ by the Indian tax department. This is note 5.5 taken from page 165 of the 2016 Report & Accounts:- "Cairn UK Holdings Limited (‘CUHL’), a direct subsidiary of Cairn Energy PLC, is in receipt of an assessment order from the Indian Income Tax Department (‘IITD’) relating to the intra-group restructuring undertaken in 2006 prior to the IPO of CIL in India, which cites a retrospective amendment to Indian tax law introduced in 2012. Cairn strongly contests the basis of this attempt to retrospectively tax the group for an internal restructuring. The assessment order is in the amount of INR102bn (approximately US$1.5bn) plus interest backdated to 2007 totalling INR 188bn (approximately US$2.8bn). The total assets of CUHL have a value at the balance sheet date of US$749.3m (comprising principally the group’s 9.8% shareholding in CIL) and any recovery by the Indian authorities would be limited to such assets. CUHL is pursuing its rights under Indian law to appeal the assessment, both in respect of the basis of taxation and the quantum assessed. CUHL’s 9.8% shareholding in CIL was originally attached by the IITD in January 2014 and CUHL continues to be restricted by the IITD from selling such shares. See section 3.1. Furthermore, Cairn has also commenced international arbitration proceedings against the Republic of India under the UK-India Bilateral Investment Treaty (the ‘Treaty’), on the basis that India’s actions have breached the Treaty by (1) expropriating Cairn’s property without adequate and just compensation, (2) denying fair and equitable treatment to Cairn in respect of its investments and (3) restricting Cairn’s right to freely transfer funds in connection with its investment. Based on detailed legal advice, Cairn is confident that it will be successful in such arbitration. The seat of arbitration has been agreed as The Hague in the Netherlands and Cairn has filed its Statement of Claim which clearly demonstrates that applying the retrospective amendment to Cairn and seizing US$1bn worth of CIL shares was in breach of the UK-India Investment Treaty obligations of fair and equitable treatment and its protections against expropriation. The Republic of India’s Statement of Defence was filed in early February 2017 with evidential hearings now expected to take place in January 2018. Cairn has asked the arbitration panel either to order India to withdraw its unlawful tax demand and compensate Cairn for the harm suffered by the seizure of the CIL shares, being not less than US$1.1bn (plus costs); or, if the tax demand remains in place, compensate Cairn for the quantum of the tax assessment and the harm suffered by the seizure of the CIL shares, being together not less than US$5.6bn (plus costs)."
alan@bj
16/5/2017
05:34
You're the one casting doubts Ed. If you're so concerned, do something about it.
alan@bj
15/5/2017
22:55
I'm busy with the shares I own. Leave to someone who holds Cairn. Yourself?
ed 123
15/5/2017
17:44
Why don't you write to Investor Relations and ask them to do just that?
alan@bj
15/5/2017
16:57
Needs the company to clarify? :-)
ed 123
15/5/2017
16:00
I believe you are correct that there is an indemnity for Cairn India and they are not really a part of what is now going on but I am making a slightly different point where Cairn Energys maximum liability if ruled against them would be limited to the value of their Cairn India stake as this is the only asset held in their subsidiary. That value is c. $800m so a lot less than the claim vs the company. My understanding at least and seen reports from a couple of years ago that made this point
gofasterstripes
11/5/2017
21:16
Hmmmm ... Not so sure about that, gofasterstripes. I've read that the PLC gave the Indian Government an indemnity. If a shareholder were to email Cairn and put that question to them, it might benefit all who follow this board. (I'm not a shareholder, btw.)
ed 123
11/5/2017
20:55
Hi. Worth double checking but my understanding is the claim is against a subsidiary that only owns Cairn India so that is the maximum Cairn would lose if the arbitration ruled against them
gofasterstripes
05/5/2017
13:02
Come on CNE please hurry and drop to the 170 mark
bigdazzler
03/5/2017
10:04
Ta, Frazboy. :-) I think Edison are using a 2017 oil price of $52/bbl and $70/bbl long term. Short term estimate is fine, but $70 further out might be too high, imo. OPEC meet again on 25th May, so we may soon learn more about their production intentions. The problem for OPEC of course is that, as the oil price rises, so more non-OPEC production comes on line. OPEC and EIA reports are very informative. I'll wait for the next round.
ed 123
03/5/2017
09:42
Ed, I do have some thoughts on the legal action, I'll try to address those when I have a little more time (I need to clarify my own thoughts) but I expect no money to head in either direction. For what it's worth there's a public research note by Edison from mid 2015 which, although out of date, is helpful in its comments on the likely value of the outcome of the legal wrangle, and is useful for knowing what assets have value. For me they can be categorised as: i) Cash - although this will be zero come year end, unless we have cash from Kraken ii)Kraken iii) Catcher iv) Senegal (SNE specifically) v) Sengal, other exploration vi) The rest The "blue sky" stuff in the report is just that - for example, I would value Greenland exploration at precisely zero, if not less - so its more a question of focussing on the core. The report also assumes much higher oil prices than now, but this is to the greater extent cancelled by monies having been sunk, costs being signficantly lower, and the fact we're much nearer to first oil on K+C. Legal wrangle calculations aside, I have a core value of around £1.70 in my sheet (the first 4 items in the list), so if the price continues to slide I'll add (I've added none to date, I have a smallish holding in my pension). I was also thinking that some of recent weakness in the share price is not just due to the sliding oil price, but due to the rising pound - I assume that most of Cairn's holder are Sterling based.
frazboy
03/5/2017
09:35
Cairn's farm in to the Druid drill in Ireland has not attracted much interest, but a good result could be very positive and not long to wait for that either, June start perhaps.
rogerlin
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