HOWARD WHEELDON | BGC PARTNERS
It has been a tough period for Cairn, but it is worth investors having faith in this well run company. India needs to show foreign investors that it can sort this dispute out, and Cairn needs the cash to invest in the projects that it is developing elsewhere.
JONATHAN JACKSON | KILLIK & CO
Although the decision to sell down Cairn India is in line with the group’s long-stated strategy, it does mean the company has become a different type of investment – there will be less gearing to the oil price and more exposure to high-risk exploration.
RICHARD GRIFFITH | EVOLUTION SECURITIES
Cairn continues to await government of India approval of its sale of up to 51 per cent of Cairn India to Vedanta. Cairn is sufficiently funded with cash of $187m and an undrawn committed loan facility of $900m to ensure it can meet all of its commitments even if the Vedanta deal drags on into the summer.