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
  -1.90 -1.07% 175.50 175.30 175.80 177.80 173.70 177.80 137,945 10:27:01
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 321.7 -992.7 -153.4 - 1,035

Cairn Energy Share Discussion Threads

Showing 14426 to 14450 of 15325 messages
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DateSubjectAuthorDiscuss
11/7/2017
08:06
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
30/6/2017
09:19
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
30/6/2017
08:19
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
30/6/2017
08:03
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
30/6/2017
07:45
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
30/6/2017
07:30
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
26/6/2017
06:15
Kraken first oil... http://uk.advfn.com/stock-market/london/enquest-ENQ/share-news/EnQuest-PLC-Kraken-First-Oil/75106899
steve73
21/6/2017
19:54
tempus june 17th Shares in Cairn Energy are down by about 14 per cent. This is working off the coast of Senegal, while it will get first oil from the Catcher and Kraken fields in the North Sea this year. These produce at $20 and $14 a barrel respectively — contrary to popular belief many North Sea fields are highly profitable. Cairn says the economics of Senegal work at the current price. The shares were recommended for the long term in this column only recently hxxps://www.thetimes.co.uk/article/successful-sifting-for-black-gold-bp0rfrbkl
notimpressed
21/6/2017
07:26
http://www.woodside.com.au/Investors-Media/announcements/Documents/21.06.2017%20Senegal%20Reaffirms%20Completion%20of%20Transaction.pdf
rogerlin
20/6/2017
16:44
price held up reasonably well considering the battering of other oil stocks.
notimpressed
20/6/2017
16:06
http://far.live.irmau.com/irm/PDF/2323_0/FARfilesforarbitration
rogerlin
19/6/2017
17:26
from tempus 2015 worth a read hxxps://www.thetimes.co.uk/article/tempus-sometimes-just-doing-nothing-is-for-the-best-cbk6j5jd73p still a buy including the indian tax situation
notimpressed
19/6/2017
15:56
Well, the following was reported in The Times on May 20th:- Cairn Energy expects arbitration over a $1.6 billion tax case in India to be completed in January and will consider returning cash to shareholders if the decision goes in its favour. The oil explorer said that it was confident of winning the long-running dispute, for which it is claiming more than $1 billion in compensation. The legal wrangle relates to a retrospective tax claim that the Indian government lodged in early 2014 about the sale of the Cairn India subsidiary to Vedanta Group in 2011. It meant that Cairn has been unable to sell its remaining stake 9.8 per cent stake in Cairn India, valued at close to $1 billion when the case first began. Speaking after Cairn’s annual meeting in Edinburgh yesterday, Simon Thomson, chief executive, said that he expected a binding ruling “weeks” after the arbitration was completed. “The three-member panel need to confer together and come up with a written solution,” he said. “Other precedents show it is not months and months and months.” Asked if the decision would have any impact on Cairn’s exploration and field development plans, Mr Thomson said: “We have taken the conservative position from just excluding that money in any forward considerations of spending. “Our view is when we win, as we are confident in the outcome, we can look at the strength of the balance sheet, the opportunities in front of us and the potential for further cash returns to shareholders.” Mr Thomson told shareholders at the Caledonian Hotel that a development plan for its SNE field off Senegal would be submitted next year. This week there was a further promising update on the drilling campaign there and work on another exploration well starts shortly. An update to the resources at the field is likely to be published in the summer, with first oil to be produced some time between 2021 and 2023. Present estimates suggest that 2.7 billion barrels of oil are in place, with about 473 million classified as being likely to be recoverable. Two North Sea fields being brought into production this year should mean Cairn, the junior partner in both developments, has net production of 25,000 barrels of oil. Kraken, operated by Enquest, is slowly stepping up operations, having produced its first oil in February. Catcher, majority-owned by Premier Oil, is still on course to get its first barrels out of the ground in the final quarter of this year. A development decision on the Skarfjell field in Norwegian waters is expected to be made towards the end of this year. Mr Thomson said that acquisition opportunities were being screened but he was keen to remain focused on the geographic areas Cairn already had exposure to.
alan@bj
19/6/2017
13:56
What do we make of the ongoing litigation with India there is an RNS today...
finkie
19/6/2017
09:11
I had these numbers in my spreadsheet, most are taken from the YE report, all are $m YE 2016 Cash: 335 2017 CASH FLOW 2016 Activities - yet to be paid for: -37 Catcher (@20% WI): -55 Kraken (@29.5% WI): -95 Senegal Commited E&A Capex (3 wells): -95 International E&A Capex: -50 Norway E&A: -25 Total: -357 YE 2017 Cash (pre exceptional/other items): -22 Other items/exceptionals Cash from CIL: 52 Post YE Irish Farm-ins: -40 YE 2017 Cash Estimate (post exceptional/other items): 0 In the absence of the CIL payment, The Kraken and Catcher cash flows, should, ensure this figure stays positive and that they have enough money for their 2018 E&A programme (edit: without drawing on their RBL facility) Happy to be corrected on the above.
frazboy
19/6/2017
08:55
Chief Exec's Statement 19th May 2017 - See final paragraph. "In the UK North Sea, both the Catcher and Kraken developments remain significantly below their original budgets and both are on schedule to target first oil this year. Together they will deliver around 25,000 barrels of oil a day on plateau net to Cairn, generating significant cash flows for reinvestment. Elsewhere, we have secured additional licences both in the North Sea and Barents Sea and farmed in to a number of interesting prospects offshore Ireland, where we plan to drill an exploration well in the Southern Porcupine basin this summer. We are fully funded to deliver this programme, and meet all our commitments. We currently have ~US$254 million cash on our balance sheet, while our Reserve Based Lending facility is undrawn."
alan@bj
19/6/2017
08:11
Having cash flowing in from Kraken is becoming increasingly important to Cairn. I hope the CFO wasn't depending on that cash coming in from India
frazboy
19/6/2017
07:57
Cairn is issuing an update on the India tax dispute. In March 2017 Cairn announced that it had received confirmation from the Government of India (GoI) via the international arbitration tribunal that dividends of US$53 million (m) due from Cairn India Limited (CIL) were no longer restricted, and Cairn requested the immediate release of that sum from CIL. On 9 June 2017, the tribunal issued a formal order memorialising the numerous confirmations from the GoI that the dividends were no longer restricted and authorising that order to be provided to CIL (now named Vedanta Limited (VIL) following the merger of CIL and VIL). However, on 16 June 2017 the Indian Income Tax Department (IITD) issued an order to VIL directing it to pay any sums that were due to Cairn to the Government of India. Sums due to Cairn from VIL now total US$104m, including historical dividends of US$53m and a further dividend of US$51m after the merger of CIL and VIL. Notwithstanding this action by the GoI, international arbitration proceedings are progressing in respect of the Group's claim under the UK-India Bilateral Investment Treaty (the Treaty). Cairn is seeking full restitution for Treaty breaches resulting from the expropriation of its investments in India in 2014, the attempts to enforce retrospective tax measures and the failure to treat the Company and its investments fairly and equitably. Cairn has a high level of confidence in its case under the Treaty and, in addition to resolution of the retrospective tax dispute, its claim seeks damages equal to the value of the Group's residual shareholding in CIL at the time it was attached (approximately US$1 billion). The seat of the arbitration is The Hague in the Netherlands and final hearings for the tribunal are scheduled for January 2018. Enquiries to: Analysts / Investors David Nisbet, Corporate Affairs Tel: 0131 475 3000
alan@bj
19/6/2017
07:33
However, on 16 June 2017 the Indian Income Tax Department (IITD) issued an order to VIL directing it to pay any sums that were due to Cairn to the Government of India. Sums due to Cairn from VIL now total US$104m, including historical dividends of US$53m and a further dividend of US$51m after the merger of CIL and VIL
rogerlin
17/6/2017
00:28
FAR are a small company, with limited staff and no experience of development. The company raised $60 m at 8.5c in 2016 and $80m at 8.0c earlier this year.Both underwater, despite the drilling news.They will know what their shareholders have indicated about further capital requirements, which will be relatively large. In my view it is a device to create enough annoyance for them to be taken out.Woodside have delivered a number of large scale FPSO operations and have relevant and necessary knowledge and capital.But it may lead to some delays, depending on the partners operating agreement.
xxx
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
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