Hornet ........ The Indian discovery was made by Cairn India which was set up by Cairn after the Indian discovery (just as Cairn has spun the Senegal discovery into Cairn Senegal) and then sold down 90% of Cairn India a few of years ago later subsequently in 2013 Cairn was proceeding to sell the remaining 10% when in Jan 2014 the Indian govern splapped a retro-active capital gains tax claim for a total of $US1.5b and stopped the sale of the remaining shares, the claim is now proceeding into arbitration.
At a guess Cairn would quite likely not be to happy to have a company controlled by the Indian govern as a partner in the JV
HKP
Hornet ........ The Indian discovery was made by Cairn India...
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