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Cairn Energy

May 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:
  • 158p
The shares have lagged the oil rise for two reasons. The India tax dispute, worth US$1.4bn if it wins, has been delayed while more controversially Cairn’s full year results revealed a 19% downgrade of its Kraken field’s reserves estimates after production problems meant output was lower than expected at a gross 30.3k barrels oil per day (bopd) in FY’18 versus original projections of 50k.  However, the company still left Kraken’s 2019 forecast gross production estimates unchanged in a range of 30-35k barrels oil per day. Its partner, Enquest, which operates Kraken, disputes this analysis and is not making any changes to reserves.Those results showed net production (derived from stakes in Kraken and fello ...

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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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