Cairn Half Yearly highlights, page-52

Hi again all

I'm having a lot to say, I know, but nagging away at the back of my mind is that 2.7 billion number, now confirmed by an independent expert. Now, where have we seen that number before? Oh, that's right, from a certain Waterman who was slagged mercilessly by some for unsubstantiated ramping. Well guess what you critics out there, the Waterman's day hath come.

It's also worth noting that this seemingly extraordinary 3C number has been verified from appraisal wells that have yet to move out from the 100m oil column. Just how big might this thing be? WN's 3S mega field is still very much alive.

And PE aside, worst case scenario seems to be FAR would be 'stuck' with 15% of recoverable oil that must surely now exceed a billion barrels in reality (notwithstanding the conservative lower number currently attributed by Cairn). Plus the forgotten Fans, plus DJ, plus GB, plus the North-East of Ruffiesque, etc. It's not a bad fallback position.

OOO