What's brewing at Cairn Energy. The Brexit movement supposedly...

What's brewing at Cairn Energy. The Brexit movement supposedly should not have favoured CNE as to their North Sea development future. Correct me if I am wrong? A plummeting SP was more on the cards, so what is with the wind behind the sails in the ever increasing price spike, sitting only 10 pence below the twelve month high.

Let's have a look compared to another similar company, and an African developing powerhouse, Tullow. I won't use June 24th as an example, as ridiculous (thanks Tony) falls and mayhem hit the markets upon the results of Brexit. On the close of June 23rd Tullow closed at 267.5p and at this current moment is trading at 265.10p, still down around a half of a %. Cairn at close on the eve of Brexit 194.30p, currently 222.20p and still powering. Up a remarkable 15%, and my comparison with Tullow is pretty much similar with all other O&G companies across the LSE.

Could be numerous reasons backing the recent popularity in CNE, but I'll take it as a positive, as it is probably the only other company we can reflect a comparison too. At FAR, price spikes are becoming an extinct probability. So sometimes we have to look elsewhere to get the murkiness out of that crystal ball. One can only hope the recent uplift is related to a little country off the coast of West Africa.