Cairn Energy PLC, page-22

Squire,
On the issue of holding size we could only have increased influence if we physically operate or have 51%.
15% was retained after obtaining the expertise and funding from JV partners. This was expected and is historically 'normal'.

On the issue of financing, capital is required for all the reasons you have stated but to be overt at this stage would only fuel our competitors and erode our terms.

I guess the down side is the longer this perception exists the more opportunity for JV partners/Predators/Traders to manipulate our share price to their own ends!

U