They know their onions over at Lukoil the Russian oil giant. So why did they pay equivalent 72p a share for their 30% stake? Because they see upside from that level. This bodes very well for us and our remaining stake. This values our remaining 20% stake at £80 million. Cash in the bank more than share price. Re kevin Hart management I am not with the bears here, but did take their concerns into account, but then I am a little biased as have soft spot for cairn energy particularly during period kevin was there 1998-2006 and there share price performance was spectacular. Have seen references from other management figures at Cairn who spoke highly of kevin Hart. I think people have to realise that west africa is more prone to delays than india and uk so perhaps he was a little naive with his timescale, others unhappy with remuneration, fair enough your entitled to your opinions. The deal completion yesterday was great. Lukoil russian giant know their onions.. Having them on board with Etinde project is a bonus and am sure will quicken things in West Africa. Share buybacks would be a great move to. All in all looks very positive and a no brainer strong buy in my book.
The development of Etinde will be financed from loans tied in to that project and will not affect our cash pile. That cash should be used for purchase of a company like VOG, our near neighbour. They have infrastructure and GSA contracts , cash positive and profitable and a Market Cap at present of £66 million. A combination of the 2 companies makes strategic sense to me.
I THINK YOU LEFT YOU CAPS LOCK on...that aside I don't think anyone can argue with the vast majority of what you wrote.
KH will stay and take his 20k a week until BLVN is no longer and by that time he will not have to worry about future employment as he would have banked a few million via his salary.
with respect to the drilling rig are we building it from scratch or have we been lied to regarding the site being ready as 4 months does seem rather a long rig up (even with a few technical issues)..maybe the lost "derrick"
Well done to KH,RH and theBOD. Pounds to pence to pants of an SP. JUST THINK OF THE MONEY YOUR MAKING IN SALARIES AND SHARES . WHAT A JOKE . MONEY IN THE BANK AND WHAT DOES THE MARKET SAY NOT A CHANCE . HOW MUCH LONGER KH AND BOD , YOUR IN CHARGE OF SHAREHOLDER VALUE . 9 MONTHS TO GET FO COMPLETE , EEAA 7 MONTHS. BOMONO OVER 4 MONTHS LATE WELL OVER, NEEDED TO EXTEND THE LICENCE. WELLS IM5,6 ? GSA ? ON AND ON AND ON. COSTING TOO MUCH MONEY OVER 700 M DOLLARS
at the moment by investing in blvn seems to be we have cash in bank, and very much SP is at that level. So we should be immune to negative sentiments spread all over specially O&G sector. If we can preserve the cash and things change we may have some much needed rise. What happened to Dragon? C'mon take us over for 100P.
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