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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
  8.70 6.71% 138.40 137.10 137.50 138.30 127.30 127.30 1,606,017 16:35:26
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 402.2 90.1 15.4 8.8 816

Cairn Energy Share Discussion Threads

Showing 14451 to 14475 of 15675 messages
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DateSubjectAuthorDiscuss
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
14/7/2017
10:34
I thought the licence next to pmos was pemex which is due to be relinquished in august
robizm
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
13/7/2017
23:18
Do you have any information you would like to share chrysaor?
frazboy
13/7/2017
19:16
Kraken? Great question...
chrysaor
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
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
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
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
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
11/7/2017
11:29
Yes, they trade in and out.
ed 123
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
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
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
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
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
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
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
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
21/6/2017
20:54
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
08:26
http://www.woodside.com.au/Investors-Media/announcements/Documents/21.06.2017%20Senegal%20Reaffirms%20Completion%20of%20Transaction.pdf
rogerlin
20/6/2017
17:44
price held up reasonably well considering the battering of other oil stocks.
notimpressed
20/6/2017
17:06
http://far.live.irmau.com/irm/PDF/2323_0/FARfilesforarbitration
rogerlin
19/6/2017
18:26
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
16:56
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
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