Senegal Ill winds facing Cairn despite find at SNE and stable finances

摘要

For some days now the managementrnof Cairn Energy has beenrnfighting on two fronts. In Senegal,rnwhere the Scottish junior has beenrnoperating the promising SNE reserve,rnthe works program laid down byrncountry director Miles Warner couldrnwell be put back. Indeed, sincernConocoPhillips agreed to sell its 35% stake on the block to WoodsidernEnergy ( AEI 774), Australia’s FARrnhas been trying to block the transaction.rnFAR, which owns 15% of SNE,rnclaimed in late August that it hadrnrights of pre-emption over the salernof Conoco’s interests.