Should the 700mbbls be declared on Tuesday, there is the possibility that COP will assume operatorship.
If so- its my view they will be more comfortable with another big JV partner(if they are not willing to go it alone) so that they can proceed with expanding their exploration and balance/share the downside risk.
Far's percentage would limit their involvement and Cairn have part of one leg bogged down in the Indian fiasco. The other problem is the difficulty of a company TO of Cairn with an indeterminate liability.Cheers
FAR Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
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