From Cairn audited Annual Report Notes to the Accounts says it...

From Cairn audited Annual Report Notes to the Accounts says it all for me :

Atlantic Margin – Senegal Cairn completed the farm-down of the three contiguous Senegalese blocks to ConocoPhillips in January 2014. Back costs received under the agreement are shown as disposals of US$20.5m. Cairn had originally farmed-in to the three blocks during 2013. During 2014, Cairn completed two exploration wells offshore Senegal: the FAN-1 and SNE-1 wells. Both wells encountered hydrocarbons. Results to date indicate that the SNE-1 well discovered commercial volumes of oil while further work is required to determine the commerciality of the FAN-1 discovery. Capitalised costs of US$166.8m at 31 December 2014 include the cost of these wells. Cairn, along with its partners in the joint operation, are preparing further exploration and appraisal programmes for submission to the Government of Senegal in May 2015, with a drilling programme due to commence in Q4 2015

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