Cairn was tipped in Friday's Investors Chronicle, you may be...

Cairn was tipped in Friday's Investors Chronicle, you may be able to get the full details by going on to their website and getting a trial on their Digital service:

http://www.investorschronicle.co.uk...ion-offer-DqTCteAKZo2ltWtz2gcR5J/article.html

These extracts refer to Senegal;

Cairn's exploration drilling in the Sangomar Deep Offshore block in Senegal - in which it holds a 40 per cent working interest - has been very positive so far. By December 2015, the company estimated it had an even chance of recovering 385mmboe from the block, a figure that should jump when half-year results are published in August, now that a trove of data has been collected in the recent drilling programme. Analysts at JPMorgan expect that drilling - currently paused - will recommence in late 2016 or early next year, ahead of a commercial decision on the block.Cairn's exploration drilling in the Sangomar Deep Offshore block in Senegal - in which it holds a 40 per cent working interest - has been very positive so far. By December 2015, the company estimated it had an even chance of recovering 385mmboe from the block, a figure that should jump when half-year results are published in August, now that a trove of data has been collected in the recent drilling programme. Analysts at JPMorgan expect that drilling - currently paused - will recommence in late 2016 or early next year, ahead of a commercial decision on the block.Cairn's exploration drilling in the Sangomar Deep Offshore block in Senegal - in which it holds a 40 per cent working interest - has been very positive so far. By December 2015, the company estimated it had an even chance of recovering 385mmboe from the block, a figure that should jump when half-year results are published in August, now that a trove of data has been collected in the recent drilling programme. Analysts at JPMorgan expect that drilling - currently paused - will recommence in late 2016 or early next year, ahead of a commercial decision on the block.Cairn's exploration drilling in the Sangomar Deep Offshore block in Senegal - in which it holds a 40 per cent working interest - has been very positive so far. By December 2015, the company estimated it had an even chance of recovering 385mmboe from the block, a figure that should jump when half-year results are published in August, now that a trove of data has been collected in the recent drilling programme. Analysts at JPMorgan expect that drilling - currently paused - will recommence in late 2016 or early next year, ahead of a commercial decision on the block.

All things being equal, the Brexit-sparked fall in sterling effectively means that Cairn's shares trade at a wider discount to net assets than they did a week ago. Based on December's balance sheet, that figure is a little over $2bn, which excludes the reserve upgrades of recent months. That is likely to be boosted both this summer and next year, given the excellent results from Sangomar. Meanwhile, low-cost production from Kraken and Catcher bodes well. Buy.