Malcy and others speculate that CNE were looking to sell down some of their holding in the SNE field. That is still a possibility to generate cash.
CNE explicitly state that they are evaluating further exploration opportunities (in previous presentations they said Capitaine was most promising):
I took this section of the report to mean that WPL will become the operator of the SNE field area declared commercial acreage which is excised from the RSSD and moves to development phase under new PSC while Cairn continue as operator of the remainder of the acreage as exploration operator under existing PSC. The alternative meaning is that they might continue exploration in 1H 2018 before TOO. 2018 is big - lots of events going to happen this year and I for one cant wait to see how it pans out! No downside for FAR only potential upside.
Excerpt from Cairn report below
Malcy and others speculate that CNE were looking to sell down...
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