This article looks positive to me.
Cairn Energy To Plug SNE-1 Well In Senegal Until Appraisal Next Year
LONDON (Alliance News) - Cairn Energy PLC Wednesday said it has found oil in the upper formation of the SNE-1 well in Senegal after completing operations with its joint venture partner and said it is preparing to appraise the discovery next year.
Although a discovery was made in the upper clastic target, the company said no hydrocarbons were discovered in the deeper target and said the well will be plugged and abandoned after logging operations have been completed until it is ready for appraisal.
The results of the SNE-1 well will be used to determine follow up drilling locations to define the extent of oil in the area during 2015.
The preliminary estimate for the contingent resource for the SNE-1 well ranges from 150 million barrels of oil to 670 million barrels of oil.
Cairn has a 40% working interest in the well, with ConocoPhillips holding a 35% working interest and Petrosen, the national oil company of Senegal holding the remaining 10%.
http://www.morningstar.co.uk/uk/new...ell-in-senegal-until-appraisal-next-year.aspx
This article looks positive to me. Cairn Energy To Plug SNE-1...
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