jimmy24
24 Jan 2018
Brent 70.53 Capex on developments 30% less than budget and oil now over $70This share price can only go up.Jimmy
NoQuestionMarks
24 Jan 2018
Operational Update 23rd January 2018 Hello all, I don't seem to be getting RNS news in my 'research account', are you experiencing the same issue?I have missed a couple of updates over the last few days as I generally just have a quick look at my portfolio in the 'research account' as I log in on all manner of devices and prefer to log into my trading account from trusted devices only.I would appreciate hearing if you are having the same problem too before I go crying to Interactive Investor.For those who have not seen it yet, here's the update from yesterday.Oil coming out of our ears and revenue beginning to flow (just in the nick of time)India... Everything I have read seems to support our case but India seem determined not to pay. If it goes our way how long before they pay up? maybe this is why the first oil Senegal estimate is so wide.Very happy with the update and willing to add more <180p. For Immediate Release 23 January 2018 CAIRN ENERGY PLCOperational Update("Cairn" or "the Company"
Cairn intends to announce its preliminary results for the year to 31 December 2017 on Tuesday 13 March 2018. In advance of these results, Cairn is providing an update on recent operations and the Group's trading performance in 2017 together with guidance for 2018. This information is unaudited and is subject to further review. Simon Thomson, Chief Executive, Cairn Energy PLC said: "Over the last twelve months, Cairn has achieved several strategic milestones and is well positioned to deliver on its strategy in 2018. Both the Kraken and Catcher developments in the UK North Sea have delivered first oil production. In Senegal, Cairn completed a successful third phase of drilling with the joint venture now targeting development approval for the world class SNE field by the end of 2018. This year, we will begin a sustained drilling campaign in the UK and Norway where Cairn has built an extensive portfolio. We also expect development sanction for the Skarfjell discovery in the first half of the year. Cairn is funded in respect of all capital commitments with a strong balance sheet and growing production cash flows. We continue actively to assess and pursue new ventures within the context of a balanced exploration and production portfolio. We are excited by the potential of the recently awarded blocks offshore Mexico where we anticipate the start of exploration drilling in 2019." UKØ The Catcher (Cairn 20% working interest (WI)) and Kraken (Cairn 29.5% WI) developments in the UK North Sea both achieved first oil in 2017 and are ramping up to plateau production, following which they are expected to deliver significant cash flows for reinvestment.Ø First oil from the Catcher Area development was successfully delivered in late December. The Operator has reported that the first two production wells from the field have been tested at rates in excess of 20,000 barrels of oil per day (bopd) each, in-line with expectations and reflecting the high productivity from initial flush production. As planned, production levels are being held at ~20,000 bopd while commissioning of the full gas processing modules and the water injection systems on the FPSO are carried out. Production will continue to ramp up in phases over the next few months with full production of 60,000 bopd targeted in H1 2018. Total project capex is forecast by the Operator to be ~30% less than the original project sanction estimate.Ø First oil from Kraken was achieved during H1 2017. On the basis of current well performance and subject to continued progress on plant uptime, the Operator expects production to reach 50,000 bopd gross during H1 2018. Full cycle gross Kraken project capex is forecast to be ~25% less than the original sanctioned project cost.Ø Full year production, net to Cairn, for 2018 is estimated to be 17,000 to 20,000 bopd with plateau production
jaymac3
23 Jan 2018
Tax dispute with India Well reaist, you were quite correct about the Arbitration Board having to accept that the final outcome will be put back until August and it also appears from today's news that the Indians have not yet paid the $53m already awarded for loss of earnings, dividends and the effect on Cairn's SP. The page about this matter makes pretty shocking reading and shows just what kind of robbery the Indian Gov are capable of.All the details can be found in the publication today about the years results to be announced on 13th March.If it is settled this time, you can see the substantial sums involved and if true to form, I would expect the shareholders to receive a special dividend as they did when the large part of the Rajasthan field was sold. I suggest that could be some recompense for our patience and for our losses also.
II Editor
23 Jan 2018
NEW ARTICLE: The Oil Man: SDX, Sound, Saffron "WTI $63.57 +26c, Brent $69.03 +42c, Diff -$5.46 +22c, NG $3.22 +4cWhilst all those clowns play in the snow at Dav-oh the rest of the world is getting on with business, the real world you might say.In the real world, oil is going up and for a very ..."[link]
reaist
17 Jan 2018
Re: Indian Tax Dispute I think the final hearing has been moved to August. Not convinced Indians will pay up in the event of Cairn winning.
jaymac3
17 Jan 2018
Indian Tax Dispute I may be wrong but I seem to recall that, late last year, there was a report that International Trade Arbitration was expected to continue finding in CNE's favour after having forced the Indian Government to pay Cairn ~ £53m for lost revenue and share value caused by this unreasonable and false "TAX" claim. It appeared that expectations were this could result in a settlement early in 2018 but there has been no news so far - only continued Indian intransigence.IMHO, every company should beware of the huge level of corruption in the Indian Sub-Continent and invest elsewhere rather than risk what amounts to much more than daylight robbery. I am disappointed the UK has not stated that any further Overseas Aid payments will be withheld until India stops playing silly beggars with a company who has helped their trade deficit by producing a major part of India's oil purchases from elsewhere. jaymac3
reaist
17 Jan 2018
Price fall Anyone know any reason for the 2 day fall? Seems to be higher than other oil stocks.
jimmy24
14 Jan 2018
Re: Peel Hunt upgrade With oil now almost at $70 per bbl I think we will quickly march to the oil 5 year high of 290.Happy days
Jamesons
08 Jan 2018
Re: Peel Hunt upgrade Also price of oil climbing nicely which will improve sentiment towards CNE.
Rhino1958
08 Jan 2018
Peel Hunt upgrade Peel Hunt today issues buy investment rating on Cairn Energy PLC (LON:CNE) and increases target to 260p.
jimmy24
03 Jan 2018
Share volume Looks like 15 million shares traded to day, a huge increase from average with the price rising.Could Cairn be the undeclared farmin partner who has reached commercial terms with providence and landsdowne to farm into the Barry roe oilfield with 340 million bbls of independent certified oil reserves of 2c undeveloped reserves?Cairn are already partnered with pvr on Spanish point field, so they know each other well.Watch for more high volume if it’s true.Jimmy
forwardloop
27 Dec 2017
Re: Catcher www.oedigital.com/component/k2/item/16782-first-oil-flows-at-premier-s-catcherPeak 60,000 bopd, Cairn 20%, premier 60%
mt4500
24 Dec 2017
Catcher Good news for Cairn is that Premier Oil operated Catcher project first oiltTp://www.nasdaq.com/press-release/bw-offshore-first-oil-produced-by-the-bw-catcher-fpso-20171223-00007
jimmy24
22 Nov 2017
Re: back to 205 today Looks like its trueSee[link]
one4all
21 Nov 2017
back to 205 today sell
