reaist
24 Aug 2017
Indian tax Dispute Reading the interims management appear bullish on winning the dispute. I am not clear as to whether the Indians will pay up. I was wondering whether anyone has any knowledge on the enforceability of international tribunals?In my opinion a successful outcome could have a large upside
II Editor
23 Aug 2017
NEW ARTICLE: The Oil Man: Kosmos, Enquest, Cairn, Premier "WTI $47.64 +27c, Brent $51.87 +21c, Diff -$4.23 -6c, NG $2.94 -2cA flash blog today as I am venturing north of the border and will update from there if appropriate. A quick run through of various bits of news from Tuesday and Wednesday, ..."[link]
forwardloop
23 Aug 2017
info [link]
jimmy24
16 Aug 2017
Re: Drumbeg Now PVR up 20%J
jimmy24
16 Aug 2017
Drumbeg Cairn have a 30% interest in the Drumbeg giant prospect offshore Ireland being drilled by Providence.Providence shares are up 15% so far to day on high volume ????
NoQuestionMarks
04 Aug 2017
Re: Drilling news Good call Jimmy, shame that Druid contained nothing but water it seems.Fingers crossed for Dromberg.
jimmy24
03 Aug 2017
Drilling news So cairn have now started drilling sne north in Senegal for 294 gross recoverable reserves which has an independent report chance of success at 60% . Senegal NPv for pre development oil is $6 per bbl , so a discovery here is worth an additional £0.93 per share.Of course the giant potential is the Druid and drombeg well offshore Ireland being drilled by providence where cairn have 3o% of potential 2 billion recoverable bbls, newss soon.
II Editor
02 Aug 2017
NEW ARTICLE: The Oil Man: President Energy, Hurricane, Cabot "WTI $49.16 -$1.01, Brent $51.78 -97c, Diff -$2.62 +14c, NG $2.82 +3cThe oil market was fast and furious yesterday and, in heavy trading, both WTI and the new front month of Brent crude for October struggled under a welter of mainly disappointing ..."[link]
II Editor
11 Jul 2017
NEW ARTICLE: The Oil Man: Oil price, Cairn/FAR "WTI $44.40 +17c, Brent $46.48 +17c, Diff -$2.48 n/c, NG $2.93 +6cThe oil price was up, admittedly, but without much trade, a low grade investment bank picked up on last week's gasoline data but not much else happened. As I said yesterday, demand ..."[link]
whitehat
26 Jun 2017
First oil from Kraken This is from Enquest's announcement today. Great news.EnQuest CEO, Amjad Bseisu said: "EnQuest is delighted to confirm that first oil has been achieved on the Kraken development, delivered on schedule and under budget. Drill centres 1 and 2 are fully complete and work continues on drill centre 3; as a result, further production capacity will come online into 2018 as these further wells are put onstream.Kraken is a transformational project, made possible by EnQuest's differential capabilities; the right mix of integrated technical capabilities, high levels of efficiency and cost discipline. With production from Kraken, EnQuest is moving from a period of heavy capital investment, to a focus on cash generation and deleveraging the balance sheet. A further update and additional analysis will be provided with EnQuest's 2017 half year results."
nk1999
17 Jun 2017
From Times "Back in mid-May, there was every expectation that the oil price would be stuck at about $55 a barrel for the foreseeable future............As luck would have it, the price peaked at just below that level as Opec sat down in May. It has now plunged about 13 per cent to trade last night at $47.33 in New York last night.....................................Share prices of the two big London-quoted companies, BP and Royal Dutch Shell, have held up tolerably well. They have cut costs and indicated they have the flexibility to hold down capital spending in the future. With a $50 price on a barrel they can probably maintain their dividends for the near term, meaning they provide one of the highest yields on the stock market, about 7 per cent.The medium-sized producers have not fared so well. Premier Oil shares, one of this column’s tips for this year at 74p, have fallen about 20 per cent since Opec’s deal to close at 50p last night, despite having gained the approval of investors this week to the refinancing of its £2 billion-plus of debt after months of wrangling.That fall looks like an overreaction. The company has wells in the Far East producing relatively cheaply and is well enough placed in the North Sea, having at the start of last year bought some cut-price assets from Eon, the German energy company.The problem is that the lower the oil price, the less profit it makes from those wells and the longer it takes to pay off debt. Much the same might be said for Tullow Oil, whose Ten off Ghana came on stream last August and should produce 50,000 barrels a day this year. The company reckons to have 80 per cent of that production hedged ahead at $60 a barrel, while both Ten and the nearby Jubilee field break even at well below $50. The shares are off about 25 per cent since Opec; again, that looks like an overreaction.Shares in Cairn Energy are down by about 14 per cent. This is working off the coast of Senegal, while it will get first oil from the Catcher and Kraken fields in the North Sea this year. These produce at $20 and $14 a barrel respectively — contrary to popular belief many North Sea fields are highly profitable. Cairn says the economics of Senegal work at the current price. The shares were recommended for the long term in this column only recently.Finally, Ophir Energy, which is developing the Fortuna gasfield off Equatorial Guinea. The company says the gas is sold forward at fixed long term prices, while production costs $15 a barrel. The market appears to have taken this on board, and the fall is only 8 per cent.No one would say there are no further shocks ahead, but some of those shares look attractive long term. Or you could just take the yield from BP and Shell."
TuscanNutter
27 Apr 2017
ISA in Happily added this as a part of this years ISA... GLA
Doodlebugger
26 Apr 2017
Extra /4th well in current programme This one a new exploration well, low COS but pretty exciting stuff…Below from the FAR press release---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- ---------- -------Shareholder update: FAR back to exploration drilling • FAR to drill first pure exploration well offshore Senegal since the SNE discovery • Exploration well to be drilled in the South Fan prospect in the Basin Fan play • Well will evaluate potential for improved reservoirs in the Basin Fan play • FAN South-1 will be drilled on completion of SNE-6 • SNE-6 has reached Total Depth and operations are progressing in line with plan FAR Limited (ASX: FAR) and the Senegal Joint Venture are drilling the FAN South-1 exploration well into the Southern FAN prospect in the first pure exploration well to be drilled offshore Senegal since the discovery wells of FAN-1 and SNE-1 in 2014. FAN South-1 will be the next well to be drilled in the current Senegal drilling campaign and will be drilling into the South Fan prospect. FAN South-1 is the first well drilled into the Basin play since the initial FAN-1 discovery well in 2014. The well will assess the upside potential for improved reservoir presence and quality in the basin. FAR assesses the FAN South prospect to contain 134 mmbbls* of recoverable oil on a best estimate basis, with an 18% chance of success (refer ASX release 7 February 2017). Figure 1 below shows the location of the FAN South-1 well. The South Fan prospect consists of several stacked reservoir targets. The well will be drilled to an estimated Total Depth (“TD”
of 5,317 metres in a water depth of 2,139 metres. The firm well plan for FAN South-1 includes logging programs prior to the well being plugged and abandoned. FAN South-1 will be drilled on completion of the SNE-6 appraisal well which has now reached Total Depth and operations including wireline logging, collection of samples and drill stem testing are underway. SNE-6 has been drilled ahead of planned timing. Managing Director, Cath Norman said, “It is great to be back drilling a pure exploration target offshore Senegal, and the first well in the basin play since our original FAN-1 discovery. We are drilling in a part of the basin where we expect to encounter improved reservoir presence and quality and gain valuable information in understanding the substantial potential of the large deep water basin area. With drilling continuing to progress ahead of schedule, without incident and safely, we look forward to bringing further news of the planned interference test in SNE-6 in the coming weeks.”
jollyg
12 Apr 2017
Re: CNE' residual holding in CIL - news About bl***dy time. The Indian govt does just what it wants, even the new administration under MODI..They withdrew all large notes INR 1000, and 5000, giving just24 hours notice. That was in November. Cant produce enough new notes to supply demand, and they dont fit into ATMs, yet we fawn after them in seeking new deals.Perhaps Cairn will announce a special div at the AGM.
jaymac3
07 Apr 2017
CNE' residual holding in CIL - news If you have time to delve into the 2016 report from Cairn, there is at last some good news regarding the outrageous demands of the Indian Authorities re their claim for retrospectiveback taxes which has caused them to withhold the remaining ~10% of Cairn India shares.An international Arbitration Hearing has just now ruled that, for a start, at least India must immediately release £50M in withheld dividends due from that 10% shareholding which has accrued since the unreasonable back Tax demand and hopefully will lead to CNE being able to recover this 10% of Cairn India shares worth much more - especially as CNE has also had to bear significant losses on the value of this 10% while being withheld. If this starts the process to end this matter , it will surely have not won India any favours to deserve other international investments in case such demands are ever repeated.
