Far has published a resource update for SNE. Makes pleasant reading but note that this is not from Cairn.
Whereas Cairn could probably be described as "cautiously optimistic" on Senegal, Cath Norman is displaying some Aussie exuberance in her announcements. And why not. :-) --- Looking at the figures in the publication, the project sure is looking better each step of the way.
Read FirstEnergy's note on Cairn Energy (CNE), out this morning, by visiting www.research-tree.com … “The Bellatrix-1 (BEL-1) well encountered only gas in poor quality reservoirs at the main exploration targets. We had valued the associated prospect at £0.10 per share, which we are now removing. At the deeper appraisal targets, sands were encountered on prognostic but the high quality lower sands were below the oil water contact. This will likely result in the range of… Read More
Read FirstEnergy's note on Cairn Energy (CNE), out this morning, by visiting www.research-tree.com … “GAS IN POOR QUALITY RESERVOIR AT THE BELLATRIX EXPLORATION TARGET IN SENEGAL. Market Reaction: slightly negative given that the exploration part of the well was unsuccessful. We carried this well at £0.10 per share in our ReNAV (£0.25 per share Unrisked). This is partially offset by the success of the appraisal component of the well and the decision to drill an additional… Read More
Yes you right there little information coming out of Senegal, there got in place called tight hole policy where they only release information as an when there seem to be a lot of oil down there if you want to know more there is a FB group FAR group which few shareholders chatting and a lot of information on there if you want know more
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