Geite Exploration Well

RNS Number : 7000O

Cairn Energy PLC

15 October 2012

 



                                                                                                                                 15 October 2012

CAIRN ENERGY PLC

("Cairn" or the "Company")

Geite Exploration Well

The enclosed announcement has today been issued by Det norske oljeselskap ASA (35%; Operator) with regard to the Geite well in the North Sea in which Cairn, through its fully-owned subsidiary Agora Oil and Gas AS, has a 15% interest (Dana Petroleum Norway AS - 25%; Bridge Energy Norge AS - 15%; Lotos Exploration and Production Norge AS - 10%).

Dry Exploration Well on Geite - Monday, 15 October 2012

Det norske oljeselskap ASA is about to complete drilling operations on the Geite prospect in the North Sea. Geite is located northwest of the Ula field.

Triassic reservoir sandstones were encountered, but without hydrocarbons. Det norske has completed the drilling operation, and the well will now be plugged and abandoned.

Det norske is the operator in PL 497 with a 35 percent ownership interest.

Partners include:

Dana Petroleum Norway AS (25 %)
Bridge Energy Norge AS (15%)
Agora Oil & Gas AS (15%), and
Lotos Exploration and Production Norge AS (10%)

About Det norske: 

Det norske oljeselskap ASA (DETNOR) specialize in extracting petroleum resources on the Norwegian Continental Shelf (NCS). We are an ambitious company with significant exploration activity. Recently we have taken part in some major discoveries, Sverdrup being the single most important. We now face several development projects, among them Jette as operator, and Ivar Aasen.

Det norske has its headquarter located in Trondheim, and offices in Oslo and Harstad. As of today we are more than 200 employees. Det norske is listed on the Oslo Stock Exchange with the ticker "DETNOR".

Enquiries:

Analysts/Investors
Simon Thomson, Chief Executive
Jann Brown, Managing Director & CFO
Mike Watts, Deputy Chief Executive
David Nisbet, Corporate Affairs                                                                            Tel: [phone]

Media  
Patrick Handley, David Litterick
Brunswick Group LLP                                                                                         Tel: [phone]

NOTES TO EDITORS

Cairn Energy PLC

Ø Cairn Energy PLC ("Cairn") is an Edinburgh-based oil and gas exploration and production company listed on the London Stock Exchange.

Ø "Cairn" where referred to in this release means Cairn Energy PLC and/or its subsidiaries as appropriate.

Ø The current issued share capital of Cairn is 602,417,020.

Ø Cairn currently holds approximately 10% of the issued share capital of Cairn India Limited (CIL).  Production from CIL's Rajasthan operations is 175,000 bopd.

Ø Cairn (including Capricorn) is run from Edinburgh with operational offices in London, Nuuk, Madrid, Stavanger and Kathmandu.

Cairn in Greenland

Ø Cairn through its subsidiary, Capricorn, operates 11 blocks offshore Greenland.

Ø A total of 14 exploration wells have been drilled offshore Greenland to date, five of which were drilled in the 1970s, one in 2000, three in 2010 by Cairn Energy and five by Cairn Energy in 2011.

Cairn in North West Europe

Ø Cairn has non-operated and operated exploration, appraisal and development assets in the UK and Norwegian North Sea.

Cairn in the Mediterranean area

Ø Cairn is in the early stages of carrying out frontier exploration in Spain and expects to participate in the offshore Lebanon bid round later this year.

Ø Cairn is participating along with consortium partners in the current bid round offshore Cyprus.

Ø Cairn has exploration interests in Morocco with drilling targeted for Q4 2013.

For further information on Cairn please see: www.cairnenergy.com

 

END

 

 

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