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
  +0.80p +0.41% 194.60p 193.70p 194.20p 197.50p 193.30p 195.70p 1,271,889 16:35:17
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 321.7 -992.7 -153.4 - 1,147

Cairn Energy Share Discussion Threads

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DateSubjectAuthorDiscuss
28/8/2018
07:54
Azinor Catalyst Limited (“CatalystR21;), the Seacrest Capital Group-backed E&P Company focused on the UK Continental Shelf, is pleased to announce that the 9/14a-16 well on the Agar Plantain Prospect, was spudded at approximately 6:00pm on 24 August 2018 using the Transocean Leader drilling rig. Azinor Catalyst has a 25% operating interest in the sole risked well with Nautical Petroleum, a wholly owned subsidiary of Cairn Energy PLC, (50% WI), and Faroe Petroleum PLC (25% WI subject to regulatory approvals.
rogerlin
23/8/2018
08:56
Ok fair enough.
dunderheed
23/8/2018
08:50
No I don't think it implies anything other than prudent/cautious accounting while the issue rumbles on. The full US$1.3 bn claim remains : para 7.
dogwalker
23/8/2018
08:39
Cheers Roger appreciated. So is this implicit acceptance of reduced expectations? Anyone got opinions on this? Me I always thought they'd win the arbitration but never thought they'd get the money!
dunderheed
23/8/2018
08:32
https://uk.advfn.com/stock-market/london/cairn-energy-CNE/share-news/Cairn-Energy-PLC-Update-on-Cairns-assets-in-India/77821781 Para 5 of the first section.
rogerlin
23/8/2018
08:21
Roger where did you get that from buddy?
dunderheed
23/8/2018
08:08
After the disposal of part of this shareholding in VL and seizure of proceeds by the IITD, Cairn will write down the carrying value of its investment in VL which will result in an impairment charge at the half year equal to the value of the total shares notified as having been sold by the IITD at that time. Looks like CNE have come to the same conclusion.
rogerlin
22/8/2018
18:34
Roger... thanks. It looks like the Indian Tax dept are adopting the view that Possession is 9/10ths of the Law!
eipgam
21/8/2018
15:32
New to this thread so please be patient.... Presumably they have made provision I like to check in with the "Brokers Views" here is what I just found. 21-Aug-18 Canaccord Genuity Speculative Buy 230.20p 270.00p 270.00p Reiteration 16-Aug-18 Barclays Overweight 226.80p 320.00p 320.00p Reiteration
hubshank
21/8/2018
08:31
https://www.livemint.com/Politics/QSkYis3I78nCPX3Z8FbsAK/Final-hearing-in-Cairn-arbitration-against-retro-tax-begins.html
rogerlin
16/8/2018
09:02
Cairn can afford that funding on it's own - really? The share price don't seem to be saying that surely? FFS for this to be accepted and heard in arbitration is a bloody difficult process in the first place and I personally believe precedent needs to be sought with regard to this kind of transaction? I personally believe the "veil of incorporation" cannot be used to overcome "legal substance and form" which whilst I realise are accounting terms, it is this concept, that I think needs legal testing? All imho and wtfdik? EDIT oh and post number reserved for Saul Goodman.
dunderheed
16/8/2018
08:46
"So FAR has trooped of to the International Court of Arbitration and, after a number of false starts, a president has been appointed to hear a case that seems likely to get underway some time late next year. "I am glad you asked me that one because we have some pretty good words ready on that one," Coleman said in opening response to our query. "The arbitration is frivolous. It has no basis or substance. It is driven by commercial opportunism and it raises concerns in our minds about the ability of our partners to fund (their share) given that it is clearly a blocker for the financing of our project," Coleman said. Woodside is presently shopping for project financing for the $US3 billion plus development. Coleman asserted that it was "clear to us" that while the arbitration remains live, securing finance and infrastructure leasing terms will be "difficult". "The whole thing is nonsensical and ridiculous," he continued, noting that the arbitration process looked almost certain to extend beyond next year's deadline to provide the Senegal government with some level of certainty over the shape and timing of the project. Woodside's best guess is that, should it proceed to its endgame, FAR's arbitration would not conclude until 2020. "That is beyond the point where we need to make a decision," Coleman said. "We have rights under our title," he continued. "We will exercise those rights, we will make sure we protect Woodside's interests with respect to security over the title and the implications of that, our other partners will have to consider," he warned. Coleman didn't want to enlighten me as to what those rights might be but his intent is clear. And here is what I think he is saying. The SNE joint venture invests considerable authority in its operating partner and by the time decisions are made, that is what Woodside will be. That authority most likely extends to the timing of an investment decision and how the project might be funded. Coleman is plainly saying project financing has been left uncertain. If that is unattainable, then the only obvious way for this to get done in the timeframe required by Senegal is for the partners to do it themselves by contributing capital in line with their level of ownership. It is plain enough that Woodside could afford its share and so too could the other big owner, Cairn Energy. But, very obviously, Coleman reckons FAR would struggle to respond to that sort of capital call and, just as bluntly, he is making it publicly known that he is prepared to throw down that gauntlet". Thanks to ksingh posted on hotcopper.
rogerlin
15/8/2018
08:41
Cairn spudded its Ekland exploration well 22/18c-8 on the July 27 with the Ensco 101 https://www.zennorpetroleum.com/operation/licence-p2184/
rogerlin
14/8/2018
19:00
Who by? Not that I take much notice of such 'notes' anyways!!
dunderheed
14/8/2018
18:37
It's been downgraded.
p5tvr
14/8/2018
17:39
Woodside have issued some plans for Senegal, can't find any text of what exactly, doubt that can be so remarkable.
rogerlin
14/8/2018
17:35
Premier also off, could it be Kraken related ?
xxx
14/8/2018
16:56
It doesn't start til 20th and is unlikely to be cancelled/postponed unless a compromise has been agreed.
eipgam
14/8/2018
16:25
Down nearly 7% now - I wonder why - a problem with the arbitration hearing perhaps?
mick
14/8/2018
14:19
down 5% Any reason, other than more sellers than buyers?
eipgam
14/8/2018
11:44
Drilling on Agar Plantain is currently scheduled to commence later this month using the Transocean Leader at a total estimated gross cost of US$15 million. Faroe joins Catalyst (25.0% and operator) and Cairn Energy plc (50.0%) in this sole-risk well, the results of which will be announced on completion of drilling operations. Faroe’s equity interest in this well is 25.0%, to be funded through existing cash resources, and through the same transaction will also become a 12.5% equity interest holder in the wider P1763 Licence (Apache 50.0% and operator, Cairn 25.0%, Catalyst 12.5%).
rogerlin
02/8/2018
07:55
I don't know I'm afraid but delay seems the norm for all this. What is of concern is that if the Vedanta shares are bought out then the Indian govt will likely seize the money, once they have it getting it back will be problematic. However I don't think the Vedanta cash offer can be settled until end of year?
rogerlin
01/8/2018
19:11
Rogerlin: Thanks. Does that mean it will be some further time before we get to know the result of the arbitration. In my naivity, I was kinda hoping we would hear in the first or second week of Sept.
eipgam
01/8/2018
15:15
Following the hearing the Arbitral Tribunal will issue a binding and internationally-enforceable award. The drafting and issuance of such an award typically takes several months. In this case, taking into account the delays already suffered by Cairn, the Tribunal has stated that it will endeavour to issue its award as expeditiously as possible.
rogerlin
01/8/2018
13:07
It's August... arbitration looms "All of the written submissions by Cairn and the Indian Government have now been made and the final arbitration hearings are scheduled for two weeks commencing on 20 August 2018 in The Hague."
eipgam
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