I noticed that there was no thead on Cairn so I decided that this needed rectification! Comments/amendment to this header most welcome as it's pretty high level...

  • Edinburgh-based oil and gas exploration and production company listed on the London Stock Exchange since 1988. The business has been transformed after making major discoveries in Rajasthan in northern India in 2004. There are now two parts of the business: CAIRN INDIA and CAPRICORN.
  •  CAIRN INDIA was demerged and listed on the Bombay Stock Exchange and the National Stock Exchange of India at the start of 2007. It has interests in a total of 14 blocks in India and Sri Lanka. Cairn holds a 65% interest in Cairn India. Cairn India is a listed subsidiary of Cairn. Based just outside New Delhi, Cairn India "is expected to begin production from the fields before the end of the month, initially trucking up to 30,000 barrels of oil a day to coastal refineries, with a pipeline due to begin operation in September.... Only an agreement over the price Cairn will be paid by government-owned refineries appears to be holding the company back from producing the first oil from the field".  Cairn expects production from the Mangala, Bhagyam and Aishwarya fields to plateau at 175,000 barrels oil daily from 2011. India is Asia's third-largest oil consumer. It imports 70 percent of the oil its consumes.
  • CAPRICORN is an exploration led business with a strategy of organic growth and value enhancing acquisition. Capricorn's core assets are in Greenland, South Asia and the Mediterranean. Potential to make big discoveries in Greenland, where Cairn has eight licences.
  • Shares rocketed recently after Goldman added Cairn India to its regional "conviction buy" list of favoured companies for India. GS said that it was the best way to take advantage of improving fundamentals in the oil market on the subcontinent. It predicted that the company would produce its first crude oil from Rajasthan "within weeks" and increased its target price on the shares by 21 per cent to 290 rupees (376p).
  • Latest Interims: http://www.stockopedia.com/news/announcement/CNE/090519cne003313.htm

http://business.scotsman.com/energyutilities/Support-for--India-project.5323333.jp

http://in.reuters.com/article/domesticNews/idINBOM1669220090601

http://www.theherald.co.uk/business/news/display.var.2509200.0.Success_in_India_has_primed_Cairn_Energy_for_Iraq_bid.php

Unlock the rest of this article with a 14 day trial

Unlock with Email
Unlock with Google

Already have an account?
Login here