Cairn Half Yearly highlights, page-21

OOO

Why on earth should the privce plunge ... that's silly talk! Conservative Cairn have increased their estimate of 2C by 22% and 3C by over 30% to not far off the 1 billion barrel mark (over 900 anyway). They have also said development planning is underway for a phased development, costs are down and drilling is planned to rtecommence as early as Q4. And the presentation indicates that initial estiamtes of development costs are down at US$12-17/b compared to previous estimates of Us$17-26/b ... that's massive! Add operating costs of
I never expected Cairn to increase its estimates hugely ...but I am more than happy with them being very willing and in fact keen to espouse the excellent economics, and to talk about 2.7 mL STOOIP!!!

H