Member Info for 34adsaddsa

It depends entirely on the tender price and who it is offered to. Ideal scenario for us is if they put the tender low and still get $500M uptake.

??? There is no dividend.

250m x 2.70 = 675m..

56%. At current prices, that's how much of the shares they're attempting to acquire.

People don't want to pay income tax on the dividend. I've said before that's why the shares are weak, people are selling to pay CGT instead.

Tender offer is the big news. It'll have to be at a high level to get $500M worth.

What do you have in mind?

West Gharib is fine.
Morocco needs constant drilling to meet demand due to puny reserves and new finds so they don't have much choice there. I suppose they could let contracts run-off and shut the business down or gamble on those much larger targets further away from the pipeline, but even if they hit then they have to extend the pipeline and if they don't hit they've just wasted a good chunk of the cash balance.

The only changes I can suggest are: stopping everything except maintenance capex at South Disouq because the targets are so small, getting G&A down somehow and trying to make an acquisition (likely meaning debt if they even have the ability to borrow).

There's a reason I sold at 11p =\

Unfortunately, so far Cairn have taken the same approach with acquisitions..

Because the whole process has gone about as slowly as it could have.

If form 3 was submitted on the 6th, then we're already two weeks in. The Indian government only have 30 days to issue form 4.

Seems pretty obvious that Cairn's statements about working collaboratively with the Indian government to expedite things are delusional and Indian statements about Cairn getting the cheque as soon as they withdraw the cases was a lie.

I wish them luck. After what India did to Cairn and others, I'm happy to see anyone drag them through the mud. It also makes clear what will happen if India don't pay up here and gives them an incentive to get Cairn out of the way so they can focus on Devas.

I don't think it will sell on the news at this price level. I think there will be a good spike once we get the cash but lots of it will be given back if acquisitions don't happen pronto. People won't want to own a company dominated by cash holdings.

You should certainly ditch the £2.80 talk. Take it as a wake up call.

Hopefully not long to go now.

Cairn already has enough exploration stuff they need production NOW.

Two assets with minority ownership and low production. Not appropriate for us.

I agree that the shares falling to this level as silly. Thinking they're going to spike to £2.80 is equally silly.

It's not going up to £2.80. You need to chill out.

Sold at 11p for a tiny profit. It's obviously still cheap but I'm too scared they're going to drill themselves into oblivion and the G&A tapeworm is unrelenting. I hope it continues going up for you folks :)

I don't understand why it took so long to withdraw the cases. The company originally said it could be done within days. Then the Indian media said 3-4 weeks. It ended up taking over 6 weeks. History now but it's why the guesses so far have been wrong.

I can't see it going over £2.50 until they announce more acquisitions.