Cairn update!!22 Jan 2020 08:46
I think cairns slight downgrade on AK guidance for 2020 is what is causing the drop ??
Market listen to them and ignores AB ..
Cairn seem to be good at doing that to enquest for some reason. I can't see cairn revising there reserves downgrade on kraken either ..
Production
Ø Combined oil production net to Cairn from the Catcher and Kraken fields in 2019 averaged ~23,000 bopd, at upper end of guidance of ~21,000 to 23,000 bopd
Ø Catcher (Cairn 20% WI) averaged ~63,600 bopd (gross)
Ø Kraken (Cairn 29.5% WI) averaged ~35,600 bopd (gross)
Ø Full year oil production, net to Cairn, for 2020 is estimated to be 19,000 to 23,0001 bopd
We have been stopped in our little rally but I'm sure we will recover in the next few weeks.
The market is going to take us down to 24p first I'm pretty sure of that ??