RE: Corporate governance21 Oct 2018 13:09
Giblets yes that sounds correct.
PP don't understand your point 're reserves and resources. They obviously aren't reserves? Are you saying they are?
're Capricorn, interesting points. I dont think they are interested in operated drilling in Ireland yet and whilst I realise what you are alluding to is probably to work up the drill ready prospects I'd be very encouraged IF they did take these blocks. (I personally dont think they will but...) you could be VERY right. In which case that would be very encouraging. I like Capricorn/Cairn, they used to be a bit 'suicidal' in their exploration strategy but I think with the arrival of JS a few years ago he and ST have put a much safer (yet great upside) E&P company together.
My concerns with their Ireland strategy are what happened to Spanish Point (drilling?) plus are these blocks analogous to their Senegal assets (I am not sure?). Was the druid drombeg an offset for the Spanish Point well? Excuse ignorance as am not that familiar with the assets but perhaps someone may know that?
If they truly are (analogous to Sen) this could be REALLY encouraging.
Again me being the thread whinger (I have a reputation to keep up) I don't 'think' this will crystallise but more from Capex constrained perspective as they have a million other things to be getting on with?! Countered by this... if they do and it is because they have seen something in Senegal then this would be great, but hopefully not from a perspective of 'reserving' the block with minimal work just in case something comes as opposed to having 'seen' something 're Sen, if you can see the point I am trying to make there, lol?!
As ever ALL above imho and dyor of course.