cairn operational update - morocco, page-2

I know many on here will not want to hear this but people should use this news to objectively evaluate/ re-evaluate their investment.

Complete some cost estimates for the drill using Cap Juby as a guide, work out how much of the costs (could be 100%, could be less) will be free carried. What are the chances of success if you eliminate the secondary targets. If there are no successful discoveries before spud does this effect your investment plan.

It is very easy to ignore negative news. The only way you should rationally be able to ignore this is if you already attributed zero chance of success to Cap Juby.

JKA is in a terrible situation thanks to cost blowouts during drilling (although GALP is a much better drilling operating to have than COE). I do sometimes wonder whether I missed any obvious signs that the drill wasn't going well, I don't know if I did or not but I do know I was over emotionally invested in the stock so would have missed them even if they were there. JKA have quite a few decent assets but I can tell you there is still not a lot of joy being a share holder at the moment.