As I understand it Pj the contract was only for these 3 well to start with, with the right to continue it on. COP will have contracted the rig at way above what they are charging one would have thought. The fact it cost COP 400 million or so to cancel one contract I doubt they will be keen to cost their shareholders any more money . I'm hoping CNE and FAR make sure they don't get pushed around by COP here and that they go for a much better rate if they intend to drill on IMO. DB
Cairn Pre-Close Update 19 January, page-122
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