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
  -9.40 -6.26% 140.80 140.20 140.80 148.00 139.20 146.40 2,144,293 16:35:14
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 321.7 -992.7 -153.4 - 830

Cairn Energy Share Discussion Threads

Showing 14476 to 14499 of 15500 messages
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DateSubjectAuthorDiscuss
04/8/2017
07:31
"As we said in our trading update the FPSO will leave Singapore in August. It is only the 3rd August today and even if it leaves at the end of the month, there is time to achieve first oil in December." Re Catcher. Para from an e-mail from PMO posted on that board.
rogerlin
03/8/2017
14:27
Yep, watching carefully too Ed, particularly Kraken. I can't currently reconcile a recent investor presentation by Cairn which showed a decent slug of cash from Kraken this year, with the apparent lack of news/activity in the field - it's one month until we get an update from Enquest. Could be that the presentation was always optimistic, particularly when you factor in payment delays due to shipping, and wringing the cash out of enquest. Interesting times.
frazboy
03/8/2017
14:03
Disclosed shorts increased from 0.6% to 2.31% during July. Recent share price performance has underperformed my expectations. It may just be that some investors are cautious, awaiting flow rates from Kraken and Catcher? If both fields produce to expectations, then maybe the share price heads up towards 200p? Notwithstanding the above, my confidence wavered and I sold out. Might return, depending on outlook and share price. Keeping watch for now. GLA
ed 123
31/7/2017
18:29
http://far.live.irmau.com/irm/PDF/2333_0/QuarterlyActivitiesampCashflowReports In management comments near the end some remarks about the FAR PE arbitration process, expected to last "less than a year".
rogerlin
30/7/2017
19:24
Agreed edit: Not only do I agree, but I think the tax department will try to ensure that they have sold the stake by the time the arbitration period ends!
frazboy
30/7/2017
19:17
Yes I think not new, but if the shares are actually sold then I can't really seen CNE ever getting them back, or the Indian tax department ever paying Cairn anything whatever the tribunal says, they'll just say it has no jurisdiction in tax matters and delay indefinitely.
rogerlin
30/7/2017
08:55
I reckon that's old news Rogerlin. The tax dept/gov has now confiscated $100m dividends plus a $350m tax rebate plus the holding itself which very roughly adds up to 1bn of the initial 1.6bn claim. I'm not expecting any more information to be forthcoming until the outcome of the tribunal but worst case scenario for Cairn, perhaps a further $600m? That would certainly put a massive dent in the share price but I consider it to be extremely unlikely
frazboy
30/7/2017
07:13
http://www.moneycontrol.com/news/business/companies/tax-dept-mulls-selling-22-crore-shares-of-uks-cairn-energy-2332609.html
rogerlin
28/7/2017
18:57
https://www.cairnenergy.com/operations/republic-of-ireland/ Bumps, CNE has interests in several licences off Ireland. 2/14 is Druid. Hope for an elephant as you say! 4/08, 2/04 Spanish Point. With Providence. This was to be drilled a while ago but the rig, the Blackford Dolphin, went to Belfast for repairs which took so long it was too late in the year. Since then interest has switched to the southern Porcupine. 16/19 Farm in with EOG and 16/18 adjacent acreage, seismic for the moment. Promising acreage in south Porcupine.
rogerlin
28/7/2017
17:39
Are you guys following the Druid / Dromberg drill offshore Ireland?Providence Resources & Total are partners with Sosnia and Capricorn.Capricorn Ireland have a 30% stake and are owned by Cairn.About 5 billion barrels is the target.I noticed the spud didn't get rns'd here.Should get the first update on Druid within the next week or so then keep on drilling down to Dromberg.Not sure if this affects CNE or not.Bumps
bump3r
28/7/2017
09:32
For what it's worth - I think Delek were incredibly generous to Ithaca shareholders, I don't watch Faroe enough to have an opinion. As for Cairn (or Faroe) pursuing such a strategy I'm not so sure. There may come a time where the management team do think it's in shareholders interests that they start to wind down. A few reasons why they might do this. Firstly, you mentioned this being due to "attitude to risk", but I would have thought that it would be due to the long curve for oil prices - if it's dipping into the future then that would be the indicator that it's time to start shutting up the shop. Secondly, if they can't find attractive exploration acreage... Finally, if the company is generating surplus cash then, absolutely, return cash to shareholders (as Cairn has done in the past). On the last point ,once K+C do start throwing off cash, and should there be a positive outcome to the Indian saga (by the way, there was a FT article on this in June and an excellent comment by a forum member called "practical investor" which I would recommend reading) then, yes, show us the money! The problem for Cairn is that currently they need the cash; once Woodside take operatorship for SNE they'll want to push ahead with the development and Cairn are on the hook for 40% unless they can shift it - which I would welcome!
frazboy
28/7/2017
08:39
Exactly! It was Faroe I had in mind. Off-topic (apologies to others) .... Faroe, I think, will be feeling under pressure from Delek. If they made that commitment and set out estimated returns at a range of oil prices, they might achieve some rerating of the shares. Also, shareholders might do better that way than succumb to the 'generosity' of Delek? Back on-topic ... Cairn has started receiving income from Kraken, with Catcher due soon. Maybe drill some explo in Mexico, continue with Senegal, then sell both and return cash to shareholders in 2019? 2020 and beyond, pay dividends from their production? Would that do more for shareholders? (We can't know for sure, of course - but empire growing isn't necessarily in shareholders' best interests.)
ed 123
28/7/2017
08:30
I understand what you're saying but perhaps an example of such a company would help? Faroe, Premier, Hurricane, Sound, Rockhopper, Bowleven? I've picked those pretty much at random but the only in the list which might follow such a strategy could be Faroe? What other companies did you have in mind?
frazboy
28/7/2017
08:18
Hmmmm .... Yes, but it's also about attitude to risk. I wrote "small to mid-sized" above because the majors are already shifting in that direction. Eg. look at Shell. http://www.telegraph.co.uk/business/2017/07/27/profits-surge-van-beurden-puts-focus-discipline/ They're repositioning to be ok with oil in the 40's, selling assets to maintain the generous dividend, with share buybacks a possibility.
ed 123
28/7/2017
08:00
I doubt that will happen for quite some time - the current trend in the industry is to chase projects with quicker payback times so perhaps 10 or 15 years down the line companies may start to shy away from projects which won't produce until the long term but not now. And even as Western economies cut down on oil consumption other nations will continue to burn HC at similar rates for a good few years yet. Don't get me wrong I hope and I'm sure that some of the more far fetched IEA forecasts for oil consumption will be proved wrong but for now I can't see any oil companies changing the way they do business other than perhaps to be more rigorous in cost control and more pessimistic on future prices in making FIDs. I agree though I'm sure it does have an impact on sentiment but I suppose you have to look at that as an opportunity!
frazboy
27/7/2017
18:59
Ta, Frazboy. :-) Brent up another 40 cents per barrel after London close, so maybe Cairn has a better day tomorrow. The various end dates for selling internal combustion engine cars are in the news again today. Although, they may be c. 20 years away, it knocks sentiment. I wonder when some small and mid-sized oil companies will declare their exploration sides closed, and just run the business to maximise the cash return to investors? There could be some nice income for investors?
ed 123
27/7/2017
17:46
I had been wondering why we had been under-performing the market and i'm sure the India story is some of the explanation but I see that the short positions are increasing Date: 18/05/2017 Price: 209.10 Pos: 0.5 Notifier(s): Canada Pension Plan Investment Board Date: 27/06/2017 Price: 168.91 Pos: 1.01 Notifier(s): RAM ACTIVE INVESTMENTS SA Date: 03/07/2017 Price: 177.20 Pos: 1.51 Notifier(s): Marshall Wace LLP Date: 12/07/2017 Price: 170.30 Pos: 1.61 Notifier(s): Marshall Wace LLP Date: 19/07/2017 Price: 174.10 Pos: 2.11 Notifier(s): BlackRock Institutional Trust Company, National Association Date: 24/07/2017 Price: 171.60 Pos: 2.21 Notifier(s): Marshall Wace LLP This may at least explains some of the trades I'm seeing. Average volumes on a typical day in CNE are 1.75m shares and shorters now have 2.2% (approx 12m shares) so the impact is pretty modest but interesting to note.
frazboy
25/7/2017
22:33
Datait = nuisance spammer. Filtered.
ed 123
25/7/2017
15:18
Solo Oil maybe odd-one-out among the Horse Hill players but analyst sees substantial upside 2017-07-25 12:32:00 Attention will turn back to Horse Hill in due course, meanwhile, investors are also looking to developments in Tanzania. onshore drilling operation More production testing is slated for Horse Hill later this year Among the Horse Hill partners Solo Oil PLC (LON:SOLO) is something of an ‘odd man out’ as the stock has not seen a re-rating. Solo, which also has assets in Tanzania, holds a 6.5% interest in Horse Hill which was the breakthrough in the emerging Kimmeridge oil play in the UK onshore Weald basin. Success at Broadford Bridge and Brockham – two other Kimmeridge projects – has driven other Horse Hill explorers such as UK Oil & Gas Investments PLC (LON:UKOG), Alba Minerals and Doriemus higher. UKOG is up some 750% from May’s placing price of 0.8p, while other Kimmeridge players such as Doriemus, Alba Minerals, and Angus Energy have advanced 100%, 170%, and 200% respectively. Solo, meanwhile, is actually down by around 22% during the past month. Without stakes in either of the other project’s Solo has not seen those direct catalysts, nonetheless, this summer’s results have no doubt de-risked the proposition for the development of Horse Hill. Attention will come back around to Horse Hill in due course, as the partners advance the project through the regulatory system for a planned long term production testing programme which is provisionally slated to get underway in the fourth quarter. Horse Hill is just one of Solo’s assets, though, with the company also partnered in a potentially significant gas project in Tanzania plus a new venture targeting helium resources, also in Tanzania. Altogether, the company’s assets could be worth much more than the present level. Lionel Therond, analyst for Capital Networks, for example, sees the potential for Solo Oil to more than double in value. READ the full Capital Networks note here The analyst, in a note, set out a valuation for the stock which sees the group worth 1.04p per share, albeit the valuation relies on the group’s to-be-developed project. “We believe that the non-producing assets in Ruvuma, Rukwa, Horse Hill and Isle of Wight have a defined path to monetisation,” he said. In Tanzania, Solo is partnered with Aminex which is presently advancing development plans for the Ntorya project after recent appraisal success. Aminex last week told investors that it continues to work with the state’s Tanzania Petroleum Development Corporation (TPDC) to bring arrears fully up to date. Updating on the Ruvuma area, meanwhile, Aminex said it is fully engaged with an updated basin model including a preliminary re-mapping of multiple stratigraphic fairways and updated resource numbers. At the same time, recently appointed consultant Io oil & gas is working on a gas field development plan for the Ntorya field, located in Ruvuma, and this is expected to be ready in September. “The Ruvuma basin modelling study is an important step in optimising the development of the Ntorya gas field and Solo continues to work closely with Aminex on this project,” Solo chairman Neil Ritson said at that time. “We look forward to being able to report the results of the study in the coming quarter." WHY INVEST IN SOLO OIL PLC? READ MORE HERE REGISTER HERE TO BE NOTIFIED OF FUTURE FUM COMPANY ARTICLES Related Articles Range Energy contractor spuds Shewashan-4 well 2016-11-10 15:38:00 Point Loma Resources poised for growth as its plans accelerate Point Loma Resources poised for growth as its plans accelerate 2017-05-24 08:52:00
datait
20/7/2017
06:43
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
15/7/2017
07:32
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
14/7/2017
11:42
Thanks, Frazboy. :-)
ed 123
14/7/2017
11:32
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
14/7/2017
11:02
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
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