Member Info for BaysilHope

For NobbyD - you were right, contact CNE IR - I did on a number of emails - no reply, why? RNS today, ( I guess) great result. Would not want to short this now GLA

Divi paid early 2022, subtract 6 weeks to allow for circular and GM agenda time functions , Tax receipt should be before Dec 31st - That's when this will be taken out with a bid, AFTER cash BEFORE divi & buyback $1.4bn cash in hand or +£1bn - I would now expect peeps to improve their positions- minimal downside now - no longer share chat so to speak but visible fact & Before Diwali - for a free lunch IMO DYOR GLA

Umeed - ever heard of deferred tax - to balance Capital Allowances from capex and future taxation. where did you qualify as an accountant? Then explain why Voda had a $4bn tax charge in 2020 - here's why - tax in multiple countries and tax rules is mega complex Quote Deferred tax assets on losses in Luxembourg Included in the table above are losses of €69,742 million (2019: €82,372 million) that have arisen in Luxembourg companies. A deferred tax asset of €17,394 million (2020: €20,544 million) has been recognised in respect of these losses, as we conclude it is probable that the Luxembourg entities will continue to generate taxable profitsin the future against which we can utilise these losses. These taxlosses principally arose from historical impairments, primarily following the acquisition of the Mannesmann Group in 2000. These losses arose prior to the 2017 taxreform in Luxembourg and are available to carry forward indefinitely. The Luxembourg companies hold investmentsin the Group’s operating companies which are assessed for impairment for local GAAP financial statements using the Group’s value in use calculations(see note 4 “Impairment losses”). Impairments and reversals of impairments are recorded in the local GAAP financialstatements and therefore carrying values and valuation methodology differsfrom the goodwill assessment for the Group’s consolidated financialstatements. This assessment can give rise to tax deductible impairments or taxable reversals of previous impairments. Following the 2017 taxreform in Luxembourg, taxlosses expire after 17 years and are only used after any pre-existing losses. In the years ended 31 March 2019 and 31 March 2020 the Luxembourg companies had tax deductible impairments resulting in additional tax losses. No deferred tax asset isrecognised for these losses on the basis that they are not forecast to be used prior to the expiry of their 17 year life. In a period where pre-existing tax losses are not utilised due to impairments arising the forecast utilisation timeframe extends by one year. The reversal of impairments can result in a significant reduction to our deferred tax assets and the period over which these assets can be utilised. In the year ended 31 March 2021 a reversal of previous impairments of €12 billion has arisen in Luxembourg. This represents taxable income against which the brought forward losses can be used. This is the main driver of the reduction in the losses, and the associated deferred tax asset, compared to the prior period.

I've just hi-jacked the Glasgow posse to disrupt the COP26 - we have hacked their windows 7 security and have 3 devote CNE shareholders ready to 'BLOG' any Indian activity in the conference. Told the locals - they - India are withholding UK Tax - rev them up. I've changed my holiday entitlement - Now is the time to attack India's political will - in Scotland Cairn - a Scottish Co - BINGO - Glasgow -poverty - fuel crisis - World energy issue - Feck - the BOd are quiet - Jesus they have a plan -- Attack India COP26 - surely GLA those tablets are working GNA

Upside down world for the cheap and social media wallers , Why? You have shell $17bn - FCF Q3 and FCF will be +15% greater in Q4 but SP marked down - buy a guy who invests $750m - chicken feed - Dan Loeb or whatever Hedge fund - 3Rd Rate Co - to short a company that is looking to change gas emissions by spending $bns - with superb chem engineers a global outreach by some office chumb never changed a tyre - criticising FFS. It would not matter until the British press BRUSHED ASIDE SHELL RESULTS and focused on the Dude. And not investing is scientific FFS Bellecks - rigged stack that apes get off on. Get the hedge funds to go GREEN the tweattesat s GL rant over Ridic. That guy could not run a complex global energy player - he's too greedy. UK press on the take - ..

Pleebs, its so obvious but worrying the mental health issues here on this BB including me , anyway - the more influence they get (I'm only long at $82+ Brent) they get the SP cheaper, the more they drivel, the longer I look for discount. China on Oil rations - that can't last - how the feck are they going to invade Taiwan, raise an Airforce, fight the Indian border, go to the Moon and Mars and be a world leading economy when truck drivers are rationed to 100litres of diesel per day FFS They will be buying oil big time, especially with winter coming soon . Sit tight peeps watch the HBR discount disappear - today was always a set up Monday Sp up to allow shorting paradise ( which the boys enjoyed) as Oil is worked gown deliberately to get cheap Shell BP shares. There comes a point - WHERE YOU CAN'T SHORT ANYMORE ON FUNDAMENTALS - I'd say £3.45 is it - thats my but mega trigger. GLA

GLOL I emailed all three Directors on the list - last week and again today. Your spot on with NobbyD - this is basic Director Corporate PLC stewardship - barring unusual circumstances, notifications should be published- a.s.ap of a GM and after 7 weeks of Nada . GLA

I've just called the Darktrace PR team for advice on CNE's next India RNS and a sit-rep on GOI capabilities. Great info - India are still using the Window 7 apparently, so CNE should get a complete RNS Friday close - after the windows updates. What is clear from early encryptions - their Privatisation plans are totally fecked without a resolution of CNE - starting with Paygmt istish ... $20bn - interest foreign capital from Europe ... !! Apparently the Indian government were not allowed to book a hotel in Paris for the conference unless they had a $30m deposit FFS Klazy...

Hi NobbyD, you're spot on just emailed the fecking lot of em. It's the right action thx. GL

Good post Seav - very informative view, I'll read that again. GL

Quote, Although attendance in person at the General Meeting is possible, in order to minimise public health risks, refreshments will not be served and Directors will not be available to meet with Shareholders, before or after the General Meeting. This does not mean the Directors didn't have remote access to the meeting, Under the UK Listing Rules, the proposed sale constitutes a Class 1 transaction and is therefore conditional on the approval of Cairn's shareholders, by a simple majority of votes cast. I would have thought the Directors would have had to have mandatory access to the meeting.

The Board remains committed to allowing Shareholders the opportunity to engage with the Board. If Shareholders have any questions for the Board in advance of the General Meeting, these can be sent by e-mail to IR.Mailbox@cairnenergy.com. The Board will endeavour to answer key themes of these questions on the Company's website as soon as practical.

To date i have not seen anything clear on the Company website, however I expect them to honour they're word.

Putting the North Sea GM - mid stream of the India case - invites a GOI update - the BOD have had 17days to prepare an India briefing - the need for which is as clear as day. So I would expect news. And yes I did top up after the vote was passed, a No would have sent the wrong signal to GOI (and my bank account) - that they did not have II backing. Well they have. GLA

My guess, BOD sit after meeting, highlight points raised for an RNS, agree the wording, check doesn't fall foul of litigation speak, call MSF and Blackrock, after hours RNS - IMO, probably wrong. Still the CEO must realise the 'couple of weeks gaff' and the stress it has caused investors and make good on the update FFS - save some face...... GLA

India was obviously discussed at the meeting. How does that information get distributed to PI's who could not attend the meeting?

As I said - vote motion passed- no mention of India.

If we don't have eyes on the ground at the meeting, presumably CNE will have to issue a separate RNS on India? Normally after the GM, the RNs just states the voting results and resolutions passed. Last GM - the RNs was 10:55.

IMO - 3 acquisitions will do it, Nat gas high for a while, sold the house - piled in - can't wait - HBR will give the same contribution to UK energy, as did Stan Stennett for Welsh Humour. HNY GLA PS I loved Stan in Crossroads. x

I knew we'd crab since the 11th Oct RNS, this BOD now needs to remove the Uncertainty surrounding India and strive to NOT be EXCLUDED from any tax refund settlement. As I said to the kids, which comes first - Energy or matter? Well dad - where do you stand? Energy creates matter from the Big Bang, Matter is converted back into energy in a Black Hole singularity but explodes into another dimension/ universe - discuss. Jury's out. Time to ponder - rather than stressing about tomorrows GM. HNY GLA. GN

As you rightly point out SEAV, Page 42 para 10.3 - CNE is 'Considering' entering into Statutory Undertakings with GOI in respect of the New Legislation. Those SU's will take time and careful consideration - no doubt. This mistake chumberbumber made was to confuse 'Considering' along with 'Execution', you can only execute something when all the details are know and therefore a decision can been made. At the time of the H1 results, the rules had not been not completely formulated. IMO I would like to see CNE move past 'Considering' and replace it with 'Now agreed SU's in principal and in advanced legal Processes' or whatever progressive statement that can be made. Flip the switch baby.

HBR wasn't ready June when Shearwater was sold - rest of BP assets Andrew area held back - this is going to blow- quote-
Tolmount held back for a year FFS Delib .. Low gas
Premier Oil PLC (LON:PMO) have announced that they will be purchasing two North Sea assets from BP PLC (LON:BP).
Premier have said that they will be buying the Andrew Area and Shearwater assets from oil major BP for $625 million.
Andrew Area includes five fields which produce 18,000 barrels of oil equivalent per day. Shearwater in comparison accounts for 25 million barrels of oil equivalent of reserves.
Premier have said that they will be taking 50% to 100% stake in five Andrew Area fields, and a 28% stake in the Shearwater assets.
Premier added that they intend to raise the funds through a $500 million equity raise, and if needed a $300 million bridge operation.
The equity raise will encompass a share placing and rights issuance, and further details will be announced over the next few weeks. Premier further updated shareholders by saying that it had taken a further 25% more of Tolmount off Dana Petroleum PLC (LON:DNX) for $191 million, and a potential $55 million more.
Tolmount, a gas field, is expected to come active at the end of 2020.
The firm said that by 2024, they can expect production to be around 100,000 barrels of oil equivalent per day which will beat the 2019 figure of 78,400 per day.
Comments
“These acquisitions are materially value accretive for Premier and are in line with our stated strategy of acquiring cash generative assets in the UK North Sea,” commented Premier Chief Executive Tony Durrant.
“We look forward to realising the significant long-term potential of the Andrew and Shearwater assets through production optimisation, incremental developments and field life extension projects. We are also pleased to have consolidated our interest in the high return Tolmount development where we see material upside. The cash flow generated from the acquired assets will also accelerate the deleveraging of Premier’s balance sheet,” Durrant continued.
“The Tolmount development is making good progress and will provide a step up in group production once on-stream at the end of this year. We also look forward to drilling our first well in Alaska, a potentially transformational well for Premier.” That was 18 mths ago FFS HNY GLA FTSE 100 here we come and you short will get burned on ONE RNS Baby....