Exploration Disko West Offsho

RNS Number : 5441O

Cairn Energy PLC

01 July 2010

 



FOR IMMEDIATE RELEASE                                                                                                           1 July 2010

CAIRN ENERGY PLC ("Cairn")

Exploration Disko West Offshore Greenland

Cairn is pleased to announce that it has commenced drilling operations on the Alpha prospect (Alpha-1) in the Sigguk Block, approximately 175 kilometres offshore Disko Island, west Greenland.

The Stena Don, a fifth generation semi submersible and the Stena Forth, a sixth generation drillship, are to carry out the drilling programme in Greenland this summer.

This drilling programme targets the Alpha and T8 exploration prospects which lie in water depths of between 300 and 500 metres. The wells have planned target depths of 4,200m and 3,250m and are anticipated to take 55 and 38 days respectively. Each well is being drilled using a pilot hole through the initial top hole section.

An update on the drilling operations will be provided in August.

Enquiries to:

Cairn Energy PLC Sir Bill Gammell, Chief Executive Dr Mike Watts, Deputy Chief Executive Jann Brown, Finance Director David Nisbet, Corporate Affairs	Tel: [phone]
Brunswick Group LLP Patrick Handley David Litterick	Tel: [phone]

NOTES TO EDITORS:

Ø Cairn Energy PLC ("Cairn") is an Edinburgh-based oil and gas exploration and production company listed on the London Stock Exchange. Following the IPO of Cairn India in January 2007, there are two separate arms to the business:

Ø Cairn India limited ("Cairn India") is now listed on the Bombay Stock Exchange and the National Stock Exchange of India and has interests in a total of 11 acreage blocks in India and Sri Lanka. Cairn currently retains a 62.37% interest in Cairn India.

Ø Capricorn Oil Limited ("Capricorn"), a 100% subsidiary of Cairn, is focused on exploration. Capricorn now has assets in Bangladesh, Nepal, Northern India, Greenland, Tunisia, Albania, and pending licence awards in Spain.

Ø "Cairn" where referred to in this release means Cairn Energy PLC and/or its subsidiaries (including Cairn India and Capricorn), as appropriate.

Ø "Cairn India" where referred to in the release means Cairn India Limited and/or its subsidiaries, as appropriate.

Ø "Capricorn" where referred to in this release means Capricorn Oil Limited and/or its subsidiaries as appropriate.

Ø Cairn has focused its activities on the geographic region of South Asia, which has already resulted in a significant number of oil and gas discoveries.  In particular, Cairn made a major oil discovery (Mangala) in Rajasthan in the north west of India at the beginning of 2004. Cairn has now made more than 20 discoveries in Rajasthan block RJ-ON-90/1.

Ø Cairn India is headquartered in Gurgaon on the outskirts of Delhi, with operational offices in Chennai, Gujarat, Andhra Pradesh and Rajasthan.

Ø Cairn Energy PLC (including Capricorn) is run from Edinburgh with operational offices in Dhaka, Chittagong and Kathmandu.

For further information on Cairn please go to: www.cairnenergy.com

 

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