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
  -3.40p -1.69% 198.20p 198.10p 198.80p 202.60p 197.70p 202.60p 413,716 13:37:11
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 321.7 -992.7 -153.4 - 1,168

Cairn Energy Share Discussion Threads

Showing 14801 to 14824 of 15275 messages
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DateSubjectAuthorDiscuss
25/9/2018
09:42
Mexico is the only reason I'm here lol. India - I've written off - they may win but they'll never see the money and actually the costs to date and of chasing have got to be about $5MM now plus mgt time dedicated to this previously and in future plus ongoing third party costs moving forward - start to get really expensive - imho? Senegal - I know people on here see FAR as an irritant - which I think is patronising - but it remains they have got this issue into an arbitration court and this is an achievement in itself and means there is some concept or argument to be debated. I'm sure they can be bought out for say $10MM plus legal costs but again it potentially holds things up and causes an amount/element of uncertainty? N Sea looking ok but I think there are inevitable problems with some of the production that is being 'ignored' at the moment imho? All above imho but I am still confident "Mecico" will be the next Senegal and less 'complicated' although I expect the fiscal terms to be significantly less generous which will hopefully cause a woosh next year lol! Best of luck all.
dunderheed
25/9/2018
08:29
I like this stock. Production, development, low impact exploration, high impact exploration, oil price outlook and the Indian claim make it really interesting at current prices.
hsfinch
24/9/2018
13:37
Hi Rogerlin. I've read that White Industries had to chase this payment for about 10 years but they did eventually receive a payout of A$9,812,077, which was the initial arbitration award plus fees plus interest. Cairn's claim is far bigger than this, so if Cairn does win, (imo) it is virtually certain that India will use a series of legal challenges to either get the award annulled or to seriously delay making any payment. Back to the share price today, at 228p it looks to be getting back into the previous 225-240p channel. The FAR Woodside dispute is a nuisance, though Cairn say the project continues to progress. If that gets sorted, then maybe the share price rises to a new channel? 250-270p? Very hard to predict what any new channel would be when the India arbitration is decided. Win or lose? I think the downside is limited because of the amount that India has already seized. Upside, 100p gain if the the market believes the award would get paid? Who knows? Then 12 months from now, the first of maybe four exploration wells in the highly prospective Mexican Gulf should be underway. Bought some of these in the recent dip. Need to decide whether to hold for the medium term or take the short term profit.
ed 123
19/9/2018
08:48
The growing number of claims being brought by foreign investors against India is a significant factor in explaining why India is now looking to exit its various BITs. More than 10 cases have been brought against India over the past five years. The only concluded case is White Industries v India, where the Tribunal ruled against India and ordered damages in favour of an Australian investor. The case related to excessive judicial delays for the enforcement of an ICC arbitral award. I can't find any information as to whether White Industries ever got paid.
rogerlin
17/9/2018
14:06
Up 4.5p today at 216p. No news that I can see. Algorithm traders turned net to long? Might get back into the 225-245p channel? We'll see.
ed 123
14/9/2018
13:28
Cheers xxnjr1.
dunderheed
14/9/2018
10:44
sorry, and 50% of "farm in" well, although only 25% of rest of block. Agar-Plaintain is a "2 for 1" well in itself:- "A well is planned for 2017 (sic) to appraise the Agar discovery and down-dip potential of the Plantain prospect." more here hTTp://azinorcatalyst.com/wp-content/uploads/2018/01/AZC_Agar-Plantain-Opportunity-Flyer_Jan2018-1.pdf
xxnjr1
14/9/2018
10:31
No probs Dunderheed - I'm quite proficient at mis-remembering things on the TLW BB :-) The other well drilling is Ekland (CNE 45% Operator), which is relatively small beer at 29m bbls gross. finkie - thanks for advice, sometimes I do that too.
xxnjr1
14/9/2018
10:14
Ah sorry 3443, Cairn relatively small holdings for me and it was something I read somewhere and mis-remembered, but to be clear, they are currently drilling two non operated wells at the moment now - with quite high equity? These filler wells, away from the headliners, can really help build up 2p reserves.
dunderheed
14/9/2018
10:12
xxnjr1 - how about doubling down if you believe in CNE long term, i found selling at a loss and re-entering later is hard to execute, you crystalise the loss then sometimes miss the bounce and end up panicking and buying in at a higher price than ever contemplated. If you don't think they are going bust then just buy more at 180p 150p etc???
finkie
14/9/2018
10:10
It seems Azinor are operating the 9/14a-17 well on the Agar Plantain Prospect, which was spud 24/8, expected to take 28 to 38 days to drill and complete. "Catalyst will retain operatorship for the proposed appraisal well with Cairn acquiring an option to take over operatorship in the future with respect to the Agar Plantain project."
xxnjr1
14/9/2018
08:42
Yes and that's what I meant by left side posted earlier. 'Suddenly' operating an exploration well that as far as I was concerned, had never been mentioned b4 but, I've got an old man's failing memory of course lol!!
dunderheed
14/9/2018
08:24
Knew there was one drilling now (a recent farm in from memory). Looks like I'm getting "2 for 1" now :-) I had better study the presentation. This CNE BB is a really nice discussion forum. Informative and level headed. Appreciate the excellent comments various posters have made over the years.
xxnjr1
14/9/2018
08:14
3437, this is the point so what lol!! If the Indian govt ignore Shell and Vodafone what chance does little old Cairn have, especially considering the Indian govt are questioning the jurisdiction of said arbitration!?! Tell you what though, if any little oil and gas company could do it, I'd put me money on Cairn!!
dunderheed
14/9/2018
08:11
Bought a few. If it keeps going down I'll flog them and re-enter later.
xxnjr1
14/9/2018
08:09
Apologies I should have put n sea not Norway. I'll go back and edit. Aren't they currently operating one and partner in another currently drilling? Could be wrong of course (!) so apologise in advance!!
dunderheed
14/9/2018
08:09
Successful arbitration outcome ? e.g. IC today.
dogwalker
14/9/2018
07:53
The CNE explanation was open and honest afaics - don't really understand the ENQ version. On the E front, Cairn have a toe hold in the Barents Sea, realistically only one throw of the dice there, but that well has been moved back into 2019. Mexico 7&9 piqued my interest. ENI are good at shallow water exploration. Good to have them on one of the blocks. Given all the negatives just discussed - where do the various £3 broker targets see the upside coming from?
xxnjr1
13/9/2018
23:24
Agree totally re arbitration but to be really honest that's been very obvious since day one hasn't it? I don't see too much upside at the moment unless something 'good' happens in EDIT N_Sea or left side. Is Senegal just mired in 'external' (delaying) politics - how ironic lol! I'm waiting for Mexico - that could be transformational?
dunderheed
13/9/2018
23:17
This is what AB said: "And we haven't seen the injected water finger through. So there's no issue on the subsurface. We've seen that. So far, we have had a couple of wells, but not as unexpected produce some of the condensate water that's in place." And this is what Cairn said: "And then the third one is for a heavy oil field we anticipated early border breakthrough and that's what you've got when you've got a crude which is 100 times more viscous than the water and we were setting out expectations of around 30% water cut and we’re a bit higher than that. We’re about to go through an extensive well testing programme to try and better understand that and just think about where we want to distribute the water within the field. Just now it’s pretty uniformly being injected across the field. Should we distribute more in the north and the south versus the centre? And these are some of the plans that the operator is contemplating in terms of trying to optimise the performance of the field further." AB didn't say anything about connate water, my mistake, but what he means by water of condensate is beyond any engineer's comprehension given the chosen lift technique (HSPs which co-mingle water with oil); the two statements are completely inconsistent. Having said all that, I'm not convinced that's why CNE share price has been marked down - I reckon it's more a realisation that even if they win the arbitration they'll get nowt. If anyone can point me at Enquest's RI prospectus I would be most pleased - I would like to read it. (I've looked on their website and I can't find it)
frazboy
13/9/2018
22:12
I think the 'irritant' of FAR actually is a FAR bigger issue. If all they were was an irritant why hasn't WPL taken operatorship and forged ahead with the deal/development? A little more than irritating I'd say for both Cairn and WPL?
dunderheed
13/9/2018
21:57
Thanks, xxnjr1. :-)
ed 123
13/9/2018
21:35
That seems to be the size of it Ed 123. The first two situations are temporary in nature, or solved. Then there's the water cut. A work in progress. Hopefully they can optimise arrangements to get the best out of the reservoir.
xxnjr1
13/9/2018
18:49
Ta,xxnjr1. Transcript is very useful. I had listened, but didn't retain all that was said. So, if the voidage situation was the dominant cause of the reduced production and they've now got the injectors working fully, then that removes the dominant cause? Bad weather may return but probably not till next winter, and facilites trips may reduce as everthing is better understood/run. Then, they are trying different injection patterns to try to find the optimum one. OK, that's a rosy view, but maybe that's why the two half year reports didn't shout, "big problem" - maybe they see things improving going forward?
ed 123
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