More what does it all mean type stuff, page-38

OMG its the same genius who wrote that Chevron were partnering us & now Carin Energy!! Should have gone to spec-savers. Article still on FAR website what a ruccus that created on HC with all the bullcrap rumours.

NPV US$10 is for POO @ US70/bbl, not US50 which is more like US4.70).

Refer page 5 of Cairn's or Carin's transcript to avoid any confusion (so at US50/bbl use A$6.20/bbl or less if u want to scale down to current POO of US40, ie A$5 will do for future back of ciggy case calc's).

FWIW's Chinguetti was flowing in 2006-07 at US60-63 (at exch of 75c), so total costs were A$27 (10+17) for HDR and thus a higher return. The PSC with Mo'town boys gave the JV a high cost recovery & hence made the proj robust after tax etc.

Later...