Does the recent case which Shell have won over tax have any relevance to cairn and the cairn India situation?
19 Nov '14
what a massive drop
What is going on today
19 Nov '14
Senegal drilling programme complet
http://www.cairnenergy.com/index.asp?pageid=27&newsid=465 [B][U]Senegal drilling programme completed[/U][/B] 19 November, 2014 Cairn and its Joint Venture (JV) partners have completed operations on the SNE-1 well in Senegal and plans are now underway to appraise the discovery next year. Having discovered oil in the upper clastic target, no hydrocarbons were subsequently encountered in the deeper target of karstified and fractured Lower Cretaceous shelf carbonates. Following completion of logging operations the well will be plugged and abandoned. The SNE-1 well located in 1,100 metres (m) water depth and approximately 100 kilometres (km) offshore in the Sangomar Offshore block was drilled to a total depth of ~3,000m. Cairn has a 40% Working Interest (WI) in three blocks offshore Senegal (Sangomar Deep, Sangomar Offshore and Rufisque) ConocoPhillips has 35% WI, FAR Ltd 15% WI and Petrosen, the national oil company of Senegal 10%. The three blocks cover 7,490 km2.
10 Nov '14
Very surprised at this, not even back up to Sept level after a second major find! GLA
10 Nov '14
very surprised that sp not up much
10 Nov '14
Second signficant oil discovery off
http://www.asx.com.au/asxpdf/20141110/pdf/42tlp7z7551tg5.pdf 10 November 2014 Second significant oil discovery offshore Senegal • Excellent quality reservoir sands with net oil pay of 36 metres • 95 metre gross oil bearing column with a gas cap • Oil of 32° API from samples of gas, oil and water recovered to surface • Preliminary estimates of the contingent resource* range from P90: 150 million barrels, P50: 330 million barrels and P10: 670 million barrels (mmbbls) • Preparing to drill ahead on SNE-1 well to the deeper Aptian carbonate target FAR Ltd (ASX: FAR) has made a second oil discovery offshore Senegal in West Africa in the SNE-1 well. The SNE-1 well has discovered a 95 metre gross oil bearing column with net oil pay zone thickness of 36 metres in Albian aged sandstones which display excellent reservoir potential. High quality 32° API oil has been recovered to the surface. The SNE-1 well is located in 1,100 metres (m) water depth, approximately 100 kilometres offshore in the Sangomar block with a target total depth of ~3,000 m. Notices of Discovery for the SNE-1 well and FAN-1 well have been issued to the Government of Senegal. FAR Managing director, Cath Norman, said, “This is another very significant oil find for FAR and Senegal. Based on preliminary estimates it is highly likely to be a commercial discovery.” “The SNE-1 discovery is a company making event for FAR following our earlier oil discovery in the FAN-1 well. The SNE-1 discovery has potential to lead to a large stand-alone development and is an important step forward in establishing an entirely new petroleum province which would be transformational for Senegal.” “It is incredible that FAR has made two very important oil discoveries with its first two Senegal wells. We expect to resume drilling on the SNE-1 well shortly to evaluate the deeper Aptian carbonate objective.” “The FAN-1 well intersected a significant gross 500m oil-bearing section which indicates the presence of a prolific oil generating province. The SNE-1 well proves hydrocarbons have migrated up onto the shelf area which bodes well for the extensive suite of prospects yet to be drilled in our Senegal blocks.”
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