Cairn's operational update, page-19

Hi all,
my take aways from CNE ´s operating update are:

- The partnership is fully committed to take the appraisal and exploration on the Senegal licence forward as fast as possible.

- The partnership is not deterred by the low OP.

- The partnership sees this as a unique opportunity to explore and appraise in the current market environment at considerably lower cost, i.e. FAR´s funds will last longer!!

- All this makes crystal clear that the partnership sees the acreage as a an opportunity which comes along rarely in an explorers life, maybe a once in a lifetime opportunity for many.

It has been speculated that we would not get new information in the operational update. I have to disagree. I agree this is mostly qualitative information, but now we have a fixed time frame for exploration and appraisal drilling in 2015 which is more than many have hoped. Given the 2 wells drilled so far and the information gained the COS for the upcoming wells and with that positive results are very high, compared to normal green field exploration.

This is as good as we could expect.

I would expect the SP to rise now or at the latest when drilling starts.

Cheers,
R1