Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
I reviewed FTSE 250 oil and gas explorer and developer Cairn Energy (CNE) on 19th March when it released calendar 2012 results. The shares have subsequently drifted back slightly, to my surprise as I see real value here, but there has been some interesting recent boardroom interest in the shares which I take to mean that I am not alone in my analysis. Those who really should know agree.