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(Bloomberg) -- Investec analyst Nathan Piper raised the recommendation on Cairn Energy Plc to buy from hold.

PT set to 275 pence, implies a 74% increase from last price. Cairn Energy average PT is 212.15 pence

https://www.thetimes.co.uk/article/breakthrough-in-indian-tax-row-lifts-cairn-energy-bp0v8qlt6

Expecting this to receive significant coverage going into the weekend and into Monday. Brokers will reconfigure risked NAV accordingly, and papers will attribute a fair value based on the revised act.

Quite simply, anything less than 185p remains a steal!

If not for a condition within the Aftersale takeover, Square will not allow TSL to ride on the coattails of this transaction.

Watch this space.

Net assets at period end of GBP116.6 million are equivalent to 109.44 pence per share. With the put/call option to be triggered on completion of the acquisition of Afterpay, with the remaining 10% equity position subject to independent revaluation which will see an uplift considering the recently reported strong figures from Afterpay and some 13% of the consumer base generated from the UK market, not to mention the benchmark takeover premium.

It is not outside the realms of possibility that Afterpay will be told to negotiate and complete the takeover of TLS prior to full takeover as the synergies and extended product mix will only serve to increase growth of the 10% equity position, thus making the transaction more expensive over time. Takeover’s can be subject to a set of Pre agreed conditions.

This IMO is as low risk, high return investment as you will get over the next 6 months, with a very real possibility of a bid at any point.

Incredible strength this morning as the asset remains 40/60% below takeover value IMO!

The intraday RNS would of caught many off guard. We also have a very positive reaction to the transaction.

Even in the event that the sum of parts are not realized in the form of a takeover bid. An ability to benefit from the combined entity will ensure a significantly higher valuation.

Significant upside remains.

This to me confirms that they are drilling in excess of 30m a day based on my original projections and that they have now penetrated the primary zone at and beyond 1100m. On this basis I believe that we could reach TD on or before the end of the working day Wednesday.

‘Drill rig to geolog truck’ suggests to me that gas shows are being analyzed on a consistent basis through its vertically stacked targets or else why tweet anything with such specific reference?

I believe we will get an RNS at TD, this will detail next steps and should fall any day this week IMO.

This should be the week that we enter the Primary zone and reach TD. We should all see fireworks this week, I am confident of that!

Officially confirmed by gas world on Twitter at 10:45 on Friday that David Michin will be a speaker at this summit.

https://gasworldconferences.com/conference/helium-summit-2021/

I assume that he is confident that he has something to present on ;-)

Looking really strong again, after the iceberg of 27 has broken. This could be close to the next leg forward into the early 30’s.

In theory the Red Sandstone gas show is highly likely to be our first discovery discount the lower depths and what we can expect to find their. I believe it is this that the market is attempting to price in.

This is all falling in line with my own personal expectations of the the announcement from the 12th July. Expecting TD to be reached during the later part of next week and an announcement similar to that of DME prior to casing and wireline logging. FOMO Friday and TA could see this hit the early 30’s today if recent momentum is anything to go by.

Interest close across the pond.

With the next 7 trading days culminating in the moment of truth.

Would this resemble a intraday bull flag from intraday low, as of Twitter update?

Canada is performing well and commercial production as early as next week, sentiment is swinging IMO

False spread and can sell in quantity, next run to challenge 28.5p about to commence IMO!

Similar price action to yesterday is highly probable. Currently able to buy at 26.374 and dropping, once supply has gone it’s in the interests of the market makers to create volatility/volume.

As of now it’s 26 v 27 or 5v4

Last night close 26 v 26.3 or 1v1

Majority of market makers have moved up the bid from 25 to 26 and away from offer from 26.5 to 27

UT closed above mid to 26.5 and Peel Hunt could lead the charge this morning IMO.

Looking at how the market makers are shifting up the bid and offer this morning by comparison to yesterday’s close. It’s not a common theme on no news and is predominantly due to such a strong auction last night. IMO we have major accumulation by high net worth individuals or an institution.

Still looking very strong