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Cairn Energy PLC on Tuesday said its consortium with Cheiron Petroleum Co. has acquired Shell's Western Desert assets in Egypt for $646 million.

The FTSE 250 energy said Western Desert will expand and diversify its producing asset base, as the deal is expected to add 33,000-39,000 barrels of oil equivalent a day in 2021--of which 66% is gas. Cairn will acquire 50% of the assets and pay 50% of the price.

It was quite obviously done to coincide with the presentation hence the use of some of the slides. Not sure what the problem is with some folk.

That's because it is garbage simbah and it's managers, I say that in the loosest term, are a disgrace.

Another tweet. We have a nice amount of nickel at Merolia. One of the sought after battery metals. Has to be the cheapest licence pick up ever lol.

It looks like auger drilling may have started at Merolia.

LOL Caribbean I always told you I would be happy.
It's been another learning tool as I have really never seen the kind of trading we have seen here before and after the deal. The mass of sell trades coming through in very obvious groups and the amount of trades cancelled has been very odd.
The strange thing is we have still not had a Tr1 on the sell side. I still think there has been some chicanery afoot but hope that is all behind us.

Can we finally say - at last ;-))

Iglu you are not right with all 35 targets having 80% chance of success. The appraisal wells may be but the next one is an explanation well and I would be surprised if it is any better than 30 to 40%.

Don't hold your breath DELPH. It's stumbling along, a hostage to fate in the hope they can finally get something from Sarawak and a partner to get interested into what they think they have in Tunisia. In the meantime they must be running on fumes again.

Thornback when we took over the Egypt assets from RKH we took out a debt facility with BP for $8m payable over 30months hedged at $60 per barrel. So all being equal we should have 18months of the facility left to pay, approx $4.8m.

Same sh*t different day Art. At least we are not the only ones seeing it now. Wonder how many trades will be cancelled today.

Currently valued at just over £3m more than we were when we first took over the Egypt asset and producing only 800boepd. Quite astonishing.

That's what you get with poor mgt like we have.

The churn continues, unbelievable.

And the most manipulated.

Nice. Better than I expected given pay was less. Can we get above 4p and hold.

https://www.youtube.com/watch?v=4ZtaUXXVcZA

No problem crizmo ATB.

Nicely Art. Good to hear you are making hay while the sun shines.
I am doing ok with my miners, long may it last.
Maybe this one can finally surprise us too.

Hi Art all good here thanks hope you too?

Crizmo no need to worry about me. I have said many times there will be no one more happy than me to see this finally make me some money. Unfortunately we are still a bit away from that but hopefully this is finally the start.
If we can close above the last September high at about 3.65p then fingers crossed.

Kong1 I wish I could say I was but expected it as it is just more of the same.