Member Info for Thunder2040

American jobless claims

So they actually trimmed the holding and form is incorrect by stating previous holding was zero haha..brilliant. Thanks for clarity

MFS are huge American big hitters...interesting times

Institutional investor bought 12% of Cairn? Did I read that right?

So you think an all share offer in order for another player to realise some cash - not totally unrealistic - but I am not convinced, I think more likely the cash will be paid out about 75% via a special with remainder used to acquire assets and fund exploration. Got to ask what the business model is here, its more about exploration and development than long term production based on recent events - which I quite like

Emerald you sound like a broken record haha

Start your engines, £2.00 is within reach now. Still got a minimum target or £2.50/£2.60 here on the right news

Thin volume today across the market ahead of bank holiday, but someone wanted to get that through..bodes well.

Its a funny situation, negotiations are commercially sensitive and I guess from a legal standpoint, Cairn board need to be careful not to say anything that could impact the legal position. For this reason when the RNS drops its likely to be a case closed message, signed and delivered. This means there is probably a limit to how much the share price can rise before such an event...Isn't the date for the appeal coming soon? How about the date for the ruling on the aircraft seizure? I think perhaps we will get to those dates without a settlement, so could be a further twist here yet.

Return on equity higher if you use leverage though

wokinpark, disagree this is not going to drag out for a few reasons. 1) Indian's fast tracked the legislation. 2) Appeal ruling coming up 3) Asset seizures on aircraft are still a possibility 4) India are trying to get a gigafactory from Tesla

This is getting settled as we speak IMO

https://twitter.com/etnowlive/status/1425822403062497282?s=21

Depends on the settlement terms really but my worst case with $1b sees a target of circa £2.60+

One thing I take from the last week is that the Egypt project is not exactly loved by the markets..despite the promise of a material cash injection from settlement the current share price is still significantly undervaluing this on a sum of parts basis...

Also I will say this, Cairn board best RNS what they know before go talking to the institutional investors for thoughts, almost minded to remind them of that given the way the price is going :p

Well question is, if we got offered more than $1b by a debt recovery fund we would surely take that.Also I just don't think the GOI have decided to do this without getting a nod that there is a deal to be done..else they just look twice as stupid for trying to lowball

Also Slikoil, but don't forget that asset seizures are poised to continue unless this wraps up...#awkard when you want a gigafactory

The fact they still want to undermine international arbitration can't be the end of it, as that would still leave them in no better position than before the bill. Expect there could be a non cash element to the settlement, assets for the rest has been touted.

Tax figure seems slightly arbitrary. If its classed as a tax rebate it might not be taxable at all, otherwise it could be a capital gain or income or neither. Who knows, other than it won't be 35%. I am fascinated as to what we have all missed here compared to whoever is selling blocks - my best guess is that the seller thinks the talks breakdown and Cairn is forced to continue to asset seizures etc. Or they are realising value now rather than potentially getting taxed on a special dividend. Or a hedge fund is playing games. It is best to switch off for a while until we have more news, sure they can push it back down a long way so best not to bother watching.

'“Our strong preference remains an agreed, amicable settlement with the Government of India to draw this matter to a close, and to that end we have submitted a detailed series of proposals to them since February this year. However, in the absence of such a settlement, Cairn Energy must take all necessary legal actions to protect the interests of its international shareholders," Cairn told Business Insider in a statement.'

This quote suggests that the Indian's have been told how much is required to settle this in cash or assets, I think the cash element has been set at $1b, remains to be seen what oil assets can be offered for Cairn to work with..