Just a bit of trivia on Cairn as there is nothing on TV to watch tonight and very little else to do
The attraction of Cairn is that investors have some protection if no oil discoveries are made. The company still has a 10pc stake in Cairn India worth $1bn, and cash on the balance sheet worth $1.25bn. Oil fields in the North Sea bring the total to $2.5bn in assets, or about 256p per share. Another way of looking at it is that investors get all the potential discoveries for free at the moment.
Just a bit of trivia on Cairn as there is nothing on TV to watch...
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