Member Info for 34adsaddsa

It's almost 10 months since they announced the Egypt acquisition. It wouldn't be a problem if they'd kept the north sea assets but as it is they really don't have much production to gain from high oil prices. That must change.

They need to buy more. The gap between commodity prices and commodity producers is huge and it's going to close due to the producers increasing in value. If they don't close purchases soon they're going to miss the boat.

They don't necessarily have freedom of action. For example, if they had inside information about a large acquisition then I don't think they would be able to sell. The company may be in increasingly serious talks and they're worried the window could close. Just an idea.

You should have seen it just before the Indian Government announced they were scrapping retrospective taxes. The consensus was that they should sell the award to an asset collector because the market obviously didn't place any value on it and something is better than nothing.

I think it's more about how much he would owe if he received the dividend of over £350K.

"If the latter then the SP would be higher IMO" - I don't think that makes sense.

I'm going to nail my colours to the mast: They'll get the cheque this week.

https://economictimes.indiatimes.com/news/economy/policy/retrospective-tax-cairn-drops-suits-against-air-india-centre-in-us/articleshow/88350245.cms

They need to buy more assets to get to those higher numbers..

What are you planning to do at £2?

Responding to a question on how soon the disputes will be resolved, Bajaj said “Cairn is working on it... now the ball is in their court. As soon as they take the cases back, we will give them the cheque. In those cases where there is no money to be refunded, settlement there would be faster."
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Following the issuance of Form-II, Cairn will now start withdrawing all cases in international courts. Once this is complete, the company will be issued a ?7,900 crore refund.

It says "within 30 days" and "only after this the refund will be initiated". I take that to mean the order granting relief has to be made within 30 days and a refund can immediately occur once that has been done.

Another way of looking at it is they're effectively keeping the cash to make acquisitions because the buyback won't be completed for a very long time and they'll be getting cashflow from Egypt + whatever else they buy.

You must know that's not going to happen..

Yes, the reports in the Indian media said 3-4 weeks.

Almost a month ago, there were reports in the Indian press that Cairn just needed to withdraw all its cases and they would get the cheque. Cairn have previously said that all cases could be withdrawn in a matter of days. Anyone have any thoughts?

The buyback rate is amazingly low. God knows how they'll manage to get almost $200M worth once the $500M is paid out.

I second the call for a return of Welchy!

By my calcs, the assets are now valued at about $6.5M. My average is 11p. Is it darkest before the dawn or before it's totally black?

The cash flows drop off because the cost pool is depleted. If we're investing in expansion to 75K then the cost pool is refilled as we go and the money gets recycled so it's fine as long as we get paid (as ever).

Obviously there should be a huge distribution of cash to shareholders, but we're at the mercy of Madam Lim Siew Kim. I hope they don't use the war chest to takeover another company.