Bagging An Elephant, 8 Years In The Making, page-4

I remember all of that time clearly. At that time my broker was saying Buy/Buy and was very upbeat on Senegal - big deal coming up with Shell. Then Shell pulled out. The price went from around 15c to 4c in a couple of days - quite a shock.

Now we have the big deal - Shame about the oil price - there is always something.
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Fayjoy was talking about forward selling the oil. Maybe that will still be on the cards however at what price. Looking forward a year or two, They still may be able to sell at the $75 - $85 per barrel which would mean 'appraise and produce ASAP'

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Cairn Energy PLC (LON:CNE)‘s stock had its “outperform” rating reaffirmed by equities research analysts at RBC Capital in a research note issued to investors on Tuesday. They currently have a GBX 230 ($3.47) target price on the stock. RBC Capital’s price target would suggest a potential upside of 39.65% from the stock’s previous close.

WILSDE