Share Name Share Symbol Market Type Share ISIN Share Description
Cairn Energy 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
  -2.00p -1.15% 171.80p 171.60p 172.20p 175.10p 170.00p 170.00p 1,483,001 16:35:12
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -122.7 -13.4 - 1,002.00

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DateSubject
19/8/2017
09:20
Cairn Energy Daily Update: Cairn Energy is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker CNE. The last closing price for Cairn Energy was 173.80p.
Cairn Energy has a 4 week average price of 167.40p and a 12 week average price of 164.20p.
The 1 year high share price is 250.60p while the 1 year low share price is currently 164.20p.
There are currently 583,235,781 shares in issue and the average daily traded volume is 1,079,268 shares. The market capitalisation of Cairn Energy is £1,001,999,071.76.
07/8/2017
08:19
rogerlin: Thanks frazboy, plenty to digest there! Result from Sirius in. https://uk.advfn.com/stock-market/london/cairn-energy-CNE/share-news/Cairn-Energy-PLC-SNE-North-1-exploration-well/75392159
04/8/2017
11:39
ed 123: Ta, Frazboy. :-) Trying to understand the shorters ... Cairn has three significant events approaching: Kraken and Catcher start-ups and the judgement in the Indian Tax dispute. If any one of those disappoints, then the share price goes down? Maybe that's it? Also, Senegal would cost more to develop than Cairn could afford. Cairn have said that SNE would give in irr of 26% at $50 oil, so they should be able to farm out some. Majors, though, are in cash conservation and dividend support mode. Maybe there's some doubt about the value of SNE? Apologies to holders, just fishing around for why there should be increased short selling. (It's only a low level, btw - so may not be much to it.) Mexico - (Agree, Rogerlin :-) ) Premier took about 2 years from getting the blocks to well result. Cairn got its blocks in June 2017. So, maybe by January 2019 Cairn will have a drill rig booked for well(s) in the summer of 2019?
03/8/2017
15:03
ed 123: 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
14/7/2017
12:02
ed 123: 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.
13/4/2017
08:31
frazboy: I find the director sales a bit disappointing - if ST really believed they were going to win the Indian arbitration I think he would have held on to more, despite having shell out for tax and NI. With the slide in the Share price back to the early 200s the underperformance, against Brent, is once again established, talking of which the share price behaviour has been bizarre - it's either computer driven trading or failed expectations that they had done a deal to hive off the CI stake (subject to the arbitration proceedings).
11/4/2017
18:06
alan@bj: Interesting view from Investors Chronicle today:- Oil prices rebounded to within sight of their January and February trading range last week, and this was just one of the several positive factors pushing up the share price of our Value Tip of the Year Cairn Energy (CNE). The first came from VR-1 appraisal well offshore Senegal, which was drilled 5km west of the line of wells which include the major SNE-1 discovery. This revealed "reservoirs within the oil column as anticipated", and sands that were "better and slightly thicker than previously encountered". While a secondary exploration target was deemed non-commercial, the drilling programme is reported to be ahead of schedule and under budget. Second, Cairn announced plans to sell its residual stake in Mumbai-listed Vedanta Limited, which the FTSE 250 group received as part payment for its sale of Cairn India in 2010. Cairn Energy says its 10 per cent holding in Cairn India is equivalent to a 5 per cent interest in Vedanta Limited, or $656m. The annual report also contained details of chief executive Simon Thomson's revamped bonus package which, if approved at next month's AGM, will be reduced from 500 per cent to 375 per cent of his basic salary and with a greater focus on short-term performance. On average, analysts are expecting Cairn to book a pre-tax loss of $87.7m and an adjusted loss per share of 11.4¢ this year, swinging to profits of $88m and 12.5¢ in 2018. IC VIEW Executing the sale of the Vedanta stake will be tricky, but offers the potential to unlock a major hitherto restricted asset. At 216p, the shares are essentially flat on our buy call (220p, 5 January 2017), but we're encouraged by progress. Buy.
06/4/2017
13:16
ed 123: Hi Frazboy, Royaloak and all. From what I've read Cairn are claiming about £4.4 billion in total from the Indian government and the latter are claiming about £1.5 billion from Cairn and have frozen about £0.5 billion of Cairn owned assets. You may know the history? The Indian government lost its case in the Supreme Court of India and then passed legislation which it said clarified the law but its effect was to retrospectively make companies (including Vodafone and Cairn) liable for tax which the Supreme Court had said was not due. I have been trying to estimate what Cairn's share price of 200p-ish says about the market's expectation of the result of the arbitration. Cairn's market cap is about £1.2 billion. It is valued at about $5/bbl for its reserves and resources. I'm assuming that the 2C will convert to 2P by the end of this year and, on that basis, the market appears to have it about right, imo. So, I guess Cairn holders are playing for exploration upside (especially offshore Senegal) and a positive outcome from the arbitration. The latter could take the value of Cairn up to four times its present value. Downside? Cairn loses and gets a bill of £1.5 billion or about £1.0 billion net of the value of the assets frozen by the Indian government. If that happened, Cairn's share price could drop to around 120p, by my estimates. These are my rough calculations. Any thoughts?
03/2/2017
21:21
gary38: Hurricane Energy and EnQuest among the few 'buys' left in oil sector - MacquarieShare 11:33 03 Feb 2017"Hurricane offers 82%+ upside to our target price from the current share price, and has the clearest near-term tangible value creation opportunities, in our view.oil platformValuations in the oil sector have caught upIt is harder work picking winners in the oil and gas sector now that crude prices have steadied and share prices have climbed, so says Macquarie.Kate Sloan, analyst at Macquarie, most share prices are close to fair value and as a result many in the sector have been downgraded.Cairn Energy PLC (LON:CNE), Faroe Petroleum plc (LON:FPM), Ithaca Energy Plc (LON:IAE), Premier Oil PLC (LON:PMO) and Tullow Oil plc (LON:TLW) are all relegated to a 'neutral' rating.Three of Macquarie's 'top picks' retain their 'buy' recommendations; Hurricane Energy Plc (LON:HUR), EnQuest Plc (LON:ENQ) and Africa Oil Corp (TSE:AOI).Of the three, Hurricane Energy is deemed to have the clearest value opportunities."Hurricane offers 82%+ upside to our target price from the current share price, and has the clearest near-term tangible value creation opportunities, in our view."Further exploratory drilling (ongoing) and progress on the Lancaster development could add significant value, building on the success the company enjoyed in 2016."Macquarie has a 90p price target for Hurricane (current price: 51.25p).EnQuest, meanwhile, is Macquarie's pick for further oil price leverage combined with low risk project progression."Although the rest of the sector now reflects a much higher discounted oil price than it did four months ago, EnQuest is still discounting US$63/bbl, the same number it was back in August 2016," Sloan said."We believe the valuation gap will be narrowed in the coming months once the market starts to believe in Kraken delivery."Macquarie has a 79p target price for EnQuest (current price: 46.34p).Sloan added that Africa Oil's has very attractive upside through de-risking the discoveries in Kenya's South Lokichar basin, where it partners Tullow.
15/7/2016
08:11
alan@bj: Comment in today Times' Tempus column:- "Cairn Energy's share price was off 3% yesterday, which is odd. The oil explorer is the operator and 40% owner of some very promising assets off Senegal. ConocoPhillips, it's partner, has just sold its stake to Australia's Woodside Petroleum. This should, potentially, see these get to first oil earlier rather than later and puts a firm value on Cairn's stake. Some may have wondered if the Australians would move to take out Cairn as well. Still, it's a positive and a sign that deals are returning to the sector."
14/7/2016
06:54
ohisay: Woodside buyout Conoco's 35% in Senegal for 430m$. Not exactly overwhelming is it? (Woodside estimates that the SNE discovery contains 560 MMbbl of gross recoverable oil (at the 2C level)) So thats 430m$ for 200mboe or 2.15$ a barrel Here's Hartleys on the implications for FAR which is off 10% overnight. Hartleys research FAR (FAR Ltd, flat 8.4cps, m.cap A$375m, Oil, Gas & Consu): Simon Andrew · In sticking with a previously articulated strategy, ConoccoPhillips has agreed to sell its interests in Senegal for total consideration of US$430m (purchase price of US$350m, plus a completion adjustment of US$80m). · Woodside will acquire 100% of the shares in ConocoPhillips Senegal B.V., which holds a 35% working interest in a PSC with the Government of Senegal covering three offshore exploration blocks, Rufisque Offshore, Sangomar Offshore, and Sangomar Deep Offshore. · The PSC contains the SNE and FAN oil discoveries. · Takeaways for FAR include: o At a very simplistic level, the look through value of FAR’s 15% share is 5.7cps (total value of the asset of US$1.229m). o A greater likelihood that a commercial development goes ahead (WPL would not spend that sort of cash if they were not confident on developing it). · The market continues to grapple with the underlying value of FAR’s Senegal project with the capital required to continue to appraise and explore. · We think that on-going drilling success and associated resource upgrade of the SNE field will eventually drive share price appreciation. · The near term catalysts that could move the FAR stock price include a resource upgrade, to incorporate results from the BEL-1 and SNE-4 wells, announcement of the FY17 drilling program, and of course a jump in the price of oil. · We maintain our Speculative Buy recommendation on FAR, and have raised our valuation to 22cps from 16cps.
Cairn Energy share price data is direct from the London Stock Exchange
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