Cairn secures contract for Cajun Express drilling rig
15th Apr 2013 07:02
Cairn Energy, the FTSE 250 oil and gas group, has secured a long term contract with Transocean for the Cajun Express drilling unit. The rig, which is on an initial one-year contract, will be used on Cairn's planned multi-well frontier exploration programme in Senegal, Morocco and potentially other
Read moreCairn Energy shares rise on Skarfjell well upgrade
9th Apr 2013 09:20
Cairn Energy's shares advanced Tuesday as the oil and gas company upgraded its resources at the Skarfjell appraisal well in the Norwegian North Sea. The well's gross resource range, following discovery last April, was between 60 millions of barrels (mmbbls) and 160mmbbls. Following completion of t
Read moreMonday broker round-up UPDATE
25th Mar 2013 07:12
Amur Minerals Corporation: HB Markets initiates with a speculative buy. ARM Holdings: Bank of America Merrill Lynch reiterates buy and 1,145p price target. AstraZeneca: Deutsche Bank raises target price from 2800p to 3100p and keeps a hold recommendation. Exane BNP ups target price from 3100p to 3
Read moreFriday broker round-up UPDATE
22nd Mar 2013 08:48
Afren: Nomura shifts target price from 175p to 180p keeping a neutral rating. ASOS: Nomura increases target price from 2000p to 2630p, while reiterating a neutral rating. Betfair: Panmure Gordon takes target price from 761p to 813p and leaves its buy recommendation unchanged. Brewin Dolphin Holdi
Read moreCairn Energy announces stock purchases by three senior directors
20th Mar 2013 16:23
Cairn Energy on Wednesday announced that its Chief Executive, Deputy Chief Executive, and Managing Director / Chief Financial Officer all increased their holdings in the company, showing their faith after the group delivered a decline in full year pre-tax losses. Chief Executive Simon Thomson and
Read moreWednesday broker round-up UPDATE
20th Mar 2013 08:53
Abcam: Canaccord Genuity moves target price from 344p to 358p, but still recommends selling. Antofagasta: Jefferies cuts target price from 1350p to 1100p, while keeping a hold recommendation. ASOS: Cantor Fitzgerald raises target price from 2500p to 2900p reiterating a hold recommendation. Panmure
Read moreCairn Energy narrows pre-tax loss to 194.2m dollars; analysts give thumbs up
19th Mar 2013 07:22
FTSE 250-listed oil and gas exploration group Cairn Energy narrowed its pre-tax loss from continuing operations to 194.2m dollars in the year ended December 31st from 1.2bn dollars one year earlier, a preliminary results announcement has shown. The group reported an operating loss of $247.3m compa
Read moreTuesday broker round-up UPDATE
19th Mar 2013 07:21
Admiral Group: Canaccord Genuity raises target price from 1050p to 1215p, but reiterates its sell recommendation. BAE Systems: Investec moves target price from 325p to 375p retaining a hold recommendation. Balfour Beatty: Numis lowers target price from 330p to 300p and downgrades to add. BHP Bill
Read moreSunday newspaper round-up: BP, Virgin Atlantic, Prudential
10th Mar 2013 20:26
BP announced that at the 'core' level - excluding production from its TNK-BP joint venture - it only replaced 6 per cent of the reserves which it tapped last year. That is an unusually low figure for an oil major and reflects the slow pace of its recovery. Nevertheless, some analysts point out that
Read moreMonday newspaper round-up: Cairn Energy, Taxes, Bank of Japan
4th Mar 2013 06:43
Vast reserves of oil and gas have been found off the coast of Lebanon which could transform the power and energy politics of the region, The Times reports. The discovery has drawn a "stampede" of global oil companies. Spectrum Geo, a British surveyor, has identified offshore deposits that would mak
Read moreValiant Petroleum ready to continue work at Timon prospect
25th Jan 2013 13:21
Valiant Petroleum, an exploration and production energy company focused on the UK and Norwegian continental shelves, said Friday that a drilling rig has arrived on location to complete drilling of the Timon prospect, in which Valiant has a 10 per cent interest. The 211/11b-7 well was originally sp
Read moreWednesday tips round-up: Tate&Lyle, Cairn Energy, Severn Trent
23rd Jan 2013 06:54
The name of Tate&Lyle ought perhaps to be changed, argues The Times's Tempus on Wednesday morning. This is because with each passing day traditional sugar is less and less what it does. Thus, about 55% of profits now come from Specialty Food Ingredients (SFI), mainly sweeteners and starches, that go
Read moreCairn funded for all planned exploration and development
22nd Jan 2013 08:02
Oil and gas producer Cairn Energy said Tuesday that it is funded for all of its planned exploration and development, with its North Sea properties expected to come on stream shortly, and in doing so provide cash flows to sustain future exploration programmes. In a pre-close trading update, the firm
Read moreTuesday broker round-up UPDATE
22nd Jan 2013 07:06
Afren: Liberum Capital shifts target price from 120p to 123p staying with its hold recommendation. ASOS: Exane BNP increases target price from 3000p to 3100p and retains an outperform rating. BP: RBC downgrades to sector perform from outperform. Brammer: Peel Hunt moves target price from 300p to
Read moreFriday broker round-up UPDATE
11th Jan 2013 07:01
Aberdeen Asset Management: Credit Suisse raises target price from 380p to 410p reiterating an outperform rating. Afren: Deutsche Bank cuts target price from 175p to 165p stayling with its buy rating. Ashmore Group: Credit Suisse moves target price from 380p to 375p and downgrades to underperform.
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