What is the un-refuseable price per barrel for CNE? $4,$5,$6,$7,$8,$9,$10 ? I would agree $10 would do it but I don't think BP will offer that. Pick another number. I used to know a guy called Eddie. many years ago we had a daily pop quiz on aircraft systems, Eddie would usually guess and if the instructor did not indicate he was correct he would keep blurting out other numbers rapidly. We nicknamed him Eddie Number because it kind of sounds like "any number"... we need Eddie now! (or Simon Thomson)
Cairn will need to fund 40% of SNE development to first production. if they sell down some % it would to enable them to fast track other exploration (like Porcupine basin) or more likely IMO fund development of their producing assets to generate enhanced cash flow or sustained cash flow.
Malcy Not giving up on BP, page-139
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