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Cairn Energy

March 2019

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.

  • Epic Code:
  • CNE
  • Price:
  • 199p
While it awaits the result of its tax dispute with the Indian Government, Cairn has produced a creditable trading update showing production averaging 17,500 barrels oil equivalent per day (boepd) from its interests in the Catcher and Kraken fields in the North Sea. Encouragingly, production is forecast to grow to between 19-22,000 boepd in 2019 and management have hedged 2.7m barrels of 2019 production at decent prices between US$67 and US$83 / barrel.If it wins the tax dispute, which involves a claim for US$1.4bn, the shares should rise sharply as management have indicated their intention to return a large chunk to shareholders but even a negative result shouldn’t harm it too greatly as it has a strong balance sheet. Group c ...

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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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