Cairn Energy reveals strong year-end cash position
15th Mar 2016 08:15
(ShareCast News) - Cairn Energy painted itself in a strong cash position on Tuesday, as it updated the market on its operations in the 2015 calendar year. The FTSE 250 group reported $603m (£434m) net cash at the end of the period, and said its reserve-based lending facility remained undrawn. Debt a
Read moreCairn Energy pleased with oil flowing from Senegal appraisal well
9th Mar 2016 08:07
(ShareCast News) - Cairn Energy was "delighted" with the results of a second successful test well out of three drilled offshore Senegal, with oil flowing at rates that bode well for the wider field. Oil from the SNE-3 appraisal well flowed at a maximum rate of 5,400 barrels of oil per day, with a se
Read moreTuesday broker round-up
23rd Feb 2016 13:51
(ShareCast News) - HSBC: JP Morgan reiterates underweight with a target price of 410p and UBS stays at buy, 490p target. Just Eat: Investec reiterates buy with a target price of 435p. Glencore: Exane BNP Paribas keeps at outperform with a target of 145p. Ashmore Group: UBS starts coverage at neutr
Read moreTuesday broker round-up
23rd Feb 2016 13:51
(ShareCast News) - HSBC: JP Morgan reiterates underweight with a target price of 410p and UBS stays at buy, 490p target. Just Eat: Investec reiterates buy with a target price of 435p. Glencore: Exane BNP Paribas keeps at outperform with a target of 145p. Ashmore Group: UBS starts coverage at neutr
Read moreCairn Energy and EnQuest buy out Kraken development partner
22nd Feb 2016 07:46
(ShareCast News) - Cairn Energy and EnQuest have raised their holdings in the Kraken development in the UK North Sea. Oil and gas exploration and development company Cairn has acquired an additional 4.5% interest from First Oil through its wholly-owned subsidiary Nautical Petroleum, bringing its tot
Read moreMonday broker round-up
8th Feb 2016 15:02
(ShareCast News) - Petrofac: Goldman Sachs downgrades to neutral with a target of 909.8p. G4S: Jefferies downgrades to underperform with a target price of 170p. Cairn Energy: RBC keeps at outperform, 200p target. Wood Group: Goldman Sachs downgrades to sell, 517.6p target. Amec Foster Wheeler: No
Read moreFTSE 250 movers: Ocado leads market after Amazon bid rumours
19th Jan 2016 14:44
(ShareCast News) - The FTSE 250 was firmly in the black on Tuesday, rising 152.56 points (0.96%) to 16,111.37 by mid-afternoon. Shares in Ocado were flying as rumours of a bid from Amazon resurfaced. The US internet retail giant was reported to be working on a potential approach for the FTSE 250 on
Read moreCairn Energy confident over India tax dispute, to focus on Senegal
19th Jan 2016 07:46
(ShareCast News) - Cairn Energy said it remains fully funded from existing financial resources to deliver its exploration and appraisal programme, and the group is confident that its tax dispute with India will be resolved. The oil and gas exploration company said group net cash at the end of Decem
Read moreFTSE 250 risers: Oil prices and volatile China sees shares drop
6th Jan 2016 15:09
(ShareCast News) - The FTSE 250 was left sitting in a puddle by mid-afternoon Wednesday, down 184.25 points (1.07%) at 17,020.78. Low oil prices were to blame for the second tier market's biggest faller Tullow Oil as well as Cairn Energy. Both Brent Crude and West Texas Intermediate sank below $35 a
Read moreBroker tips: Cairn Energy, RBS, Aberdeen Asset Management
5th Jan 2016 12:11
(ShareCast News) - Canaccord Genuity on Tuesday raised its target price on Cairn Energy to 185p from 170p after the company announced the successful testing of the SNE-2 appraisal well offshore Senegal with positive results. The oil and gas exploration and production company on Monday said operation
Read moreCanaccord lifts target price on Cairn Energy
5th Jan 2016 11:05
(ShareCast News) - Canaccord Genuity on Tuesday raised its target price on Cairn Energy to 185p from 170p after the company announced the successful testing of the SNE-2 appraisal well offshore Senegal with positive results. The oil and gas exploration and production company on Monday said operation
Read moreFTSE 250 movers: Ocado keeps falling, Allied Minds lifted by paper tip
4th Jan 2016 14:10
(ShareCast News) - With less exposure to international companies than the blue chip benchmark, the FTSE 250 index was down 1.5% by mid afternoon, compared to the 2%-plus dip of the FTSE 100. Worries about China were the cause of the widespread losses in London, Europe and the US on Monday, but the U
Read moreCairn Energy announces positive results from Senegal well tests
4th Jan 2016 08:09
(ShareCast News) - Cairn Energy announced the successful testing of the SNE-2 appraisal well offshore Senegal with positive results. The oil and gas exploration and production company said operations have been safely and successfully completed following drilling, coring, logging and drill-stem testi
Read moreTuesday newspaper round-up: Cairn Energy, Intel, British manufacturing
29th Dec 2015 07:00
(ShareCast News) - The chief executive of Cairn Energy has written to India's prime minister seeking a resolution to a bitter $1.6 billion tax dispute. Simon Thomson has told Narendra Modi that the dispute between Cairn and the Indian government has been dragging on for two years, forcing the compan
Read moreFTSE 250 movers: Commodities downturn clobbers midcaps
14th Dec 2015 15:14
(ShareCast News) - The FTSE 250 bounced around on Monday with the market in the red by mid-afternoon, down 16.77 points (0.10%) to 16,860.52. The commodities downturn hit a number of FTSE 250 companies on Monday, with Evraz down over 15% by mid-afternoon. Three-month metal contracts were down, with
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