Funding Options, page-248

“Cairn may decide to hold on to their 40%.”

Nope.. not the whole lot, at least. This straight from the horse’s [Cairn CFO] mouth on 26 Feb:

“He says Cairn’s approach to risk reflects the group’s reliance on its own balance sheet- boosted by the proceeds of the Indian business- to support new projects, rather than tapping equity markets. “In the last 10-12 years we’ve returned $4.5bn of capital to shareholders, and we’ve raised something like $200m, we’ve almost never raised equity,” he says.

The funds from the Rajasthan find are now supporting exploration drilling in the deep water off Senegal, which he says is development ready. At some point soon the Senegal asset will be sold to return capital to shareholders, while fresh projects in Mexico, Surinam, Mauritania and Cote d’Ivoire are developed.”

Source:
https://www.financialdirector.co.uk...on-exploring-opportunities-in-the-oil-sector/

gh.