Current action......, page-18

Thats the Chapter 05 rules you are referring to DB? They don't seem to specifically address the appraisal situation so I found them a little unclear with respect to what FAR would be obliged to report too.

Just from memory, seemed to me that:

1. If they did report something they had to make some interpretion of what it meant in laymans terms.

2. They only had to report something when they became aware of a "material change".

But material change from what? Now in the case of an exploration well any hydrocarbon shows of potentially commercial significance would, I suppose, represent a material change.

But in terms of appraising a discovery for which resource estimates have already been reported, then material change might mean when they became aware that the status of these estimates had changed (or perhaps were likely to change?) so under that reasoning if flow rates didn't change the status quo maybe they wouldn't even be required to report that??

All very vague I must say, and under the tight hole policy I suspect there is much they could get away with if Cairn wants it kept it "in house".

That's just my interpretation in reading Chapter 05 from the laymans point of view. Please don't take it as gospel.

pj