Hi Jordan SNE without BEL is the left hand column, SNE including...

Hi Jordan

SNE without BEL is the left hand column, SNE including BEL is the right hand column. Please note that BEL if a discovery is only assigned as "contingent" (it will still require appraisal). The bigger SNE is the less important is BEL. Also please note, as intimated, I've include only a minimal takeover build in.

By way of further information, and I have mentioned this previously, that in the last FAR presentation there was an indication that the reference "NPV at FID" value (from which I extrapolate my oil value tables) of US10/bl at an oil price of US$70 could be maintained at a US$50 oil price with a 30% Capex reduction. This surprised me as Cairn were already allowing a 20% cost reduction at US$70, but as a result (as I stated in another recent post), I came close to throwing the whole thing in the bin. As I say, an update on the project economics at closer to current oil prices would be helpful.

pj