(1888PressRelease)
March 28, 2009 - Mira, Portugal – SADIF Investment Analytics SA, today announced the release of a new equity research report covering Cairn Energy Plc (CNE). The report utilizes SADIF's powerful StockMarks™ stock rating system and is required reading for any current or potential Cairn Energy Plc investor.
Report Summary: Scottish-based oil exploration and extraction company Cairn Energy received a boost to its share price recently when the company's Indian subsidiary, Cairn India, revealed in a letter to the Indian Petroleum Ministry that it intends to start production at its new Rajasthan oil fields during April. The company had previously suggested in an operational update from January 29th that production would not start until the third quarter of the year. Cairn owns 70% of the venture and has a production target of 205,000 barrels of oil equivalent per day (boepd) at its Rajasthan field. During 2008 the company's average net entitlement production was just 12,801 boepd. Nevertheless, investors will be able to look closer at the company's financial health when Cairn Energy releases full year 2008 results on March 31st.
The company has already stated in its operational update that it achieved an average realized price per barrel of oil equivalent of USD 63.72 during 2008 compared to USD 39.70 in 2007 due to the mid-year oil price spike. However, the company's average net entitlement production fell from 19,809 boepd to 12,801 boepd. While the company remains vulnerable to swings in oil prices, in order to assess Cairn Energy as a long-term investment objectively, we should focus on the company's long-term underlying fundamentals. We can assess Cairn's underlying fundamentals through the use of the StockMarks framework. Cairn Energy currently has an overall long-term investment-attractiveness rating (Total StockMark or SMT) of 78, rating above the UK market average. This rating places Cairn second when compared to ten of the company's closest peers, selected on the basis of similarity of business, market positioning factors such as size and share comparisons.
The complete report breaks down the Total StockMark into its three components – Business, Management and Price, performing a thorough analysis of Cairn Energy Plc for long-term investors.
A summary of the StockMarks™ ratings for Cairn Energy Plc is available here:
http://sadifanalytics.com/stockmarks/company.php?ticker=CNE&cod_country=110
The report has been distributed to Reuters, and forwarded to Yahoo Finance and FT.com. It is available under 'Analyst Reports' from these websites, from multiple professional platforms including Reuters Knowledge, TheMarkets.com and Thomson Research or directly from SADIF-Investment Analytics SA at:
http://sadifanalytics.com/stockmarks/article/hist_article.php?cod_country=110
About SADIF-Investment Analytics SA:
SADIF-Investment Analytics SA is an independent investment research company covering sixteen different markets and over 12,000 companies. The StockMarks™ system is based on proven investment principles and is designed to drive long-term shareholder returns.
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