Hi mrthrifty, yes it could be something as simply raising for...

Hi mrthrifty, yes it could be something as simply raising for the air mags but we should have that covered already. It could be something entirely different.

There has been some interesting pieces of info floating around the net lately and hypothetically a picture may be appearing. We know we have the EFF with Darwin as a fall back for Cambay if needed and are about to spud with a possible and probable good outcome, so why CR?

Yesterday Sundeep Bhandari our Independent Non Exec Vice Chairman resigned his position of Chairman of the Advisory Board of Cairn India to 'pursue other exciting opportunities'...more here
http://www.indianoilandgas.com/viewnews.php?id=22293
This was posted on LSE chat forum last night.

In our last Quarterley Report under 'corporate' two points to note
1..of the proceeds raised some was to be used for working capital purposes including New Ventures opportunity screening

2..Mr Sundeep Bhandari (a non-executive director) has taken on a more active role in India and is assisting in strategy, commercial and joint venture related issues following the departure of Oilex’s COO during the quarter. India Hydrocarbons Ltd (“IHL”), for which Mr Sundeep Bhandari is a principal consultant, will be paid an additional US$15,000 per month plus taxes on an interim basis and it is also proposed that IHL (or their nominee) will also be awarded 4 million options with a 15 cent exercise price and 5 year maturity, subject to shareholder approval.

So lets suppose that Oilex decides to CR to spin off Canning and have Bhandari run the show, remember we hold 100% of the asset (No Gujarat State Pet. Corp.)
Possible? who knows...Timing seams coincidental that Bhandari resigns yesterday this hits the forum in London then the TH.
also with the agreement with traditional owners announced today and contractors in for a speedy start on the ariel mag before informing us who our JV partner may be......What odds "Cairn India?" no conflict of interest for Bhandari.

Cheers all this is all just pure speculation on my part any thoughts?