CNE Report

Its out. Here's a few comments from CEO:

"Cairn enters 2015 in a strong position with further drilling planned in Senegal to evaluate the scale of this world class asset. We are preparing, along with our joint venture partners, for a multi-well exploration and appraisal programme that has the ability to add substantial value for the company and all stakeholders."

And from the text:

Atlantic Margin - Senegal
Ø FAN-1 discovered high quality, light oil in multiple stacked deepwater fans, SNE-1 discovered high quality oil in the upper clastic target of the Shelf Edge prospect; Senegal evaluation plan to be submitted by Joint Venture (JV), Cairn Operator 40% Working Interest (WI), Q2 2015
Ø Preliminary estimates of the gross Contingent Resource for SNE-1: P50, 330 mmbbls recoverable. Initial gross STOIIP estimates for the FAN-1 well: P50, 950 mmbbls. Resource estimates confirmed by ERC Equipoise Ltd audit
Ø Based on early evaluation, a programme of three firm and three optional exploration and appraisal wells is envisaged to begin in 2015
Ø Capital Markets Day on Senegal on 11 May 2015"

Speaks for itself. More once I've had a better look.

H