Cairn Pre-Close Update 19 January, page-24

I am sure CNE will be happy once they resolve the Indian tax issue as predicted at the time they are now suing for the value of the shares at the time of the dispute

Cairn has a high level of confidence in its case under the UK-India Investment Treaty, and in addition to resolution of the retrospective tax dispute, its statement of claim to the arbitration panel will seek damages equal to the value of Cairn’s residual shareholding in CIL at the time it was attached (approximately US$1 billion)

If you play with a bull you need to watch out for the horns.

It was interesting to hear Tim Robertson talk about this issue last year and IMHO believe CNE will win this case and be cashed up even more than they are now.

I wish I could say I expected more from this update, had the popcorn and the talk cocktail and it feels over before it started? back to waiting end of Feb should have more news on SNE3.

Zip