Cairn delivered an encouraging set of H1 2017 results. The main update was the start up of Kraken and upgrade of SNE's 2C resources. The company is well funded to execute its 2017 commitments but delivering its pre FID projects is the next core priority. Cairn's growth strategy remains exploration led and capturing new acreage in Mexico supports this objective. Investors are now buying into exploration led strategies and creating value from Senegal will boost investor confidence in Cairn's strategy.