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At least the heavy fall today can be explained by a kick in the nuts from JP Morgan as it revises a host of oil companies upwards by 9% but down grades Cairn to neutral . The best bit is we are paying them for this farce of a share buy back that none of us will probably be alive to see completed. Rudderless and clueless . No doubt on the back of the last production forecast and wording change.
We need something to change as the market has no idea where we are going. Let’s hope for a better year with the drill bit and maybe some take over news.
Cairn have got to turn there drill fortunes around . 3 big expensive dusters in a row . We have 3 significant drills this year with the first one kicking off any day now expected duration 72 days In the North Sea. Then Egypt and Mexico later in the year.
Very disappointing share price performance after briefly hitting 208. To finish the day almost down is hard to believe when you look at the massive sea of blue across other oil companies. I am sure every feels the same
As well documented we are sitting at pretty much at cash in bank value. Barclays broker note says it all Production pretty much priced at zero . 200 p level is incredibly well supported with share buy back . Market cap versus planned share buy back is totally nuts.
Interesting to see how much they hoover up today on the market sell off . I am expecting some pretty tasty numbers .
Full year results “ Capricorn's working interest Egypt production for 2022 is anticipated to be 37,000-43,000 boepd with production growth through the year meaning that 2022 exit rates are expected to exceed the top end of guidance”. Todays AGM specifically noted within range and not exceeding wording clearly changed . For me this is the reason for the drop straight after AGM . Fluids was always given at higher end of guidance . jam tomorrow
Now that we are waiting until June for results then this will go lower pushed down by overall market forces . Long term this is a bargain price but in my opinion this is not yet bottomed out.
Can some one please point me in the direction of the confirmation that we are getting another update at month end ?? Thanks pretty sure SMS mentioned it but can’t find it now
P/E is quite high at 24.5 Is debatably especially with the growth. One thing I am pretty sure we can all agree on is that there will be no material re rating until the quarterly update at the end of the month beg of June. I do expect a steady rise as we near results
No idea but nearly back to where we were prior to results . That is good enough for me to get back in . Trading statement due month end
Sub 13 would be hard to believe only a few weeks ago but this onslaught is relentless . On the news feed we are down for a trading statement on Thursday but I can’t find anything to back this up on Entains investor relations page?? Any ideas
Same just checked back nothing unusual in the term un audited . Great results
Yesterday RNS did say preliminary results but I did not pick up on it but today we get un audited results . Not what I was expecting and after a couple of quick passes it looks like the storm in tea cup centres around 2020 numbers from slight profit to big loss relating to various charges. Everything else looks bang on and that was all I picked up on. Any one else ?
Basically the market was informed on 17th Feb that the results on April 12th would be delayed for how long we do not know. The times ran a story 3 weeks ago saying there were up to 4 bids in for the first round for FA side of the business . Plus there is the audit side too sort and also the board roles to clarify split.
This is really starting to drag on now and way over what I was hoping for and anticipating from the Yahoo interview a few weeks back . Time to wait and see let’s hope it is this week.
Hard to say mate I can’t find any recent news with proposed dates but we are way over the supposed time so for me I would not think to much longer. Any info please share ?? Results look good to me and hopefully we get some positive news shortly. The last RBS broker note was positive
Looking pretty cheap now based on the exceptional profit generated last year and trading. The long delay to results has hurt the share price but I genuinely think it will be worth the wait . News must be due any day .
Either way trading update or results are in the post . Let’s hope as SMS said a resolution has been found and time to move on .
A company whose strategy is less clear is Capricorn Energy (CNE). The former Cairn Energy is finally past its fight with India and has bought back $500mn in shares through a tender scheme, cutting its share count by a third. But it was still running at an operating loss last year, and consensus forecasts see its earnings per share falling from 9p this year to 1.7p in 2024. Time to make some moves.
Clearly this is the overall markets view but times are changing bring on the drill bit and let’s hit something . Not sure I agree with the
Numbers with production above 43 boed but IC are normally spot on