Cairn’s partner has announced that the reservoir encountered at Druid, offshore Ireland, was water bearing. Although disappointing, it doesn’t change our investment case on Cairn Energy as we still see a significant mispricing, and potential upside in Senegal and India. We had only included 2p risked for Druid/Drombeg in our RENAV of 281p.
04 Aug 2017
Druid water bearing
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Druid water bearing
Capricorn Energy PLC (CNE:LON) | 176 14.1 4.8% | Mkt Cap: 161.7m
- Published:
04 Aug 2017 -
Author:
Jessica Saadat -
Pages:
3
Cairn’s partner has announced that the reservoir encountered at Druid, offshore Ireland, was water bearing. Although disappointing, it doesn’t change our investment case on Cairn Energy as we still see a significant mispricing, and potential upside in Senegal and India. We had only included 2p risked for Druid/Drombeg in our RENAV of 281p.