Very happy to have been adding to FAR the last few weeks. Low for CAIRN so far today 190.6, currently 199p.
Senegal Exploration & Appraisal
Ø Drilled six wells in two years; two basin-opening discoveries and four successful appraisal wells
Ø SNE contingent resource upgrade: independently verified current best estimates for gross oil in place on the SNE field of more than 2.7 billion bbls*
Ø Estimated gross recoverable oil resource of 1C 274 mmbbls, 2C 473 mmbbls, 3C 906 mmbbls*
Ø Cairn estimates further Senegal exploration potential of ~500 mmbbls gross mean risked resource
Ø Joint Venture (JV) planning third phase drilling programme commencing in Q4 2016/Q1 2017 with further evaluation of SNE discovery
Ø Rig tender for next phase of appraisal and exploration benefiting from lower cost environment
Ø Conceptual development planning underway to include range of potential options including phased development to capture a potentially large resource base
Senegal Exploration & Appraisal
Ø Drilled six wells in two years; two basin-opening discoveries and four successful appraisal wells
Ø SNE contingent resource upgrade: independently verified current best estimates for gross oil in place on the SNE field of more than 2.7 billion bbls*
Ø Estimated gross recoverable oil resource of 1C 274 mmbbls, 2C 473 mmbbls, 3C 906 mmbbls*
Ø Cairn estimates further Senegal exploration potential of ~500 mmbbls gross mean risked resource
Ø Joint Venture (JV) planning third phase drilling programme commencing in Q4 2016/Q1 2017 with further evaluation of SNE discovery
Ø Rig tender for next phase of appraisal and exploration benefiting from lower cost environment
Ø Conceptual development planning underway to include range of potential options including phased development to capture a potentially large resource base
Cairn Half Yearly highlights, page-56
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