FINLAY THOMSON WESTHOUSE SECURITIES
Senegal is further down the northwest African coast from the group’s licences offshore Morocco, and looks a natural extension. Cairn also plans to drill two to four wells in Morocco starting later this year. Definitely one to own, with the North Sea, west Africa and Greenland all for free.
MALCOLM GRAHAM-WOOD VSA CAPITAL
The combination of cash and Cairn India underpins today’s market capitalisation so in effect exploration and development are in for free. We feel at current levels this is an interesting entry point into a company that may yield exploration upside at several points and geographies this year.
SANJEEV BAHL NUMIS
The key focus will be on Morocco and the farm-in to Senegal announced yesterday. As flagged, we expect to see consensus net asset value upgrades as analysts start to include value for risked prospective resource for Morocco and now also Senegal.