Bell Potter, page-13

These things ( in bold ) caught my eye from the report

Increased field size of SNE points to higher daily oil production rates

Cairn’s initial preliminary development concept for the SNE field involved a standalone
floating production, storage and offtake vessel (FPSO) with expansion capacity for satellite
tie-backs. Production using subsea connections methods and incorporating gas and water
injection wells was estimated to deliver a plateau production rate of about 50,000 to
100,000 barrels of oil per day (bopd) although initial production rates were likely to be
above 100,000bopd. With the size of the SNE field now recognised as being substantially
larger than previously estimated, we believe there is a much higher probability that the field
will produce at a higher initial and sustained rate, especially if well completion incorporating
horizontal wells can be achieved. Under such a scenario, we believe initial and
sustainable oil production rates of around 150,000bopd are more likely, which is expected
to have a materially positive impact on the field’s economics.

With SNE field size increased so much, FAN field may revert to a standalone

While Cairn’s initial view of the FAN-1 discovery was that it may have been developed as a
standalone field, subject to further drilling and appraisal, Cairn’s subsequent thinking was
that the FAN field would be developed as a tie-back to the SNE field (Figure 5), again
subject to further drilling and appraisal. With the increase in the size of the SNE field, and
its size as measured in terms of contingent resources, set to be further increased, we
believe the likelihood of the FAN field being developed as a standalone has increased,
especially if subsequent additional drilling and appraisal shows the FAN field is
substantially larger than previously interpreted. This view is partly based on the
understanding that the well that discovered the FAN field (FAN-1) has been drilled
relatively high on the structure, indicating the FAN field could be very substantially larger
and so could potentially support a standalone development.