woodside to buy FAR???, page-10

HKP as you understand the current POO, you should understand that high cost production in the north sea doesn't work right now. and with the feeling of oil capping at $60 (shale production cost), I suspect any production cost close to this figure is not saleable. Cairn are in the unfortunate position right now, to keep funding this and keep funding at a potential loose making oil price. As you probably know sometimes you have to sell winners to keep the losers afloat! Cairns share price has tracked better due to Senegal agree, but also their is a feeling the Indian govt could turn favorable. We can agree on 1 thing, Senegal is very exciting. Although these oil companies burn cash fast, lines of credit for high cost production doesn't last and the sad fact is they only have 1 interesting asset in this current oil environment (and that's what we agree on at least).