Primary Recommendation

Cairn Energy - Oil e&p stock with a bull case price target of 530p

July 2018

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Cairn Energy is an oil exploration & production firm best known for its remarkable 2004 discovery of the Mangala field in Rajasthan, India, which contained a massive 3.6bn barrels of which 1bn were recoverable reserves – a staggering feat for a then small cap share.Cairn sold its interests for a king’s ransom worth US$8.5bn and subsequently returned US$4.5bn to shareholders. While its subsequent pursuits were less effective, the company is now back on form. Thanks to stakes in two big new North Sea fields, which gushed first oil in FY’17, Cairn can look forward to an annualised 17-20,000 barrels per day (bopd) this year, rising to 25,000 bopd barrels in FY’19, providing a strong base to fund some excitin ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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