Cairn India Ltd - Sri Lanka Frontier Exploration Drilling Campaign: Discovery Notification
3 October, 2011
The attached release was issued on 2 October 2011 by Cairn India Limited (“Cairn India”) to the Bombay Stock Exchange and the National Stock Exchange of India.
Cairn Energy PLC has a 52.11% holding in Cairn India. Following the completion of the Proposed part sale of shareholding in Cairn India Limited ("Cairn India") to Vedanta Resources plc ("Vedanta" ) Cairn Energy PLC will retain an approximate 22% shareholding in Cairn India.
Simon Thomson, Chief Executive, Cairn Energy PLC said:
"Cairn is delighted with this frontier exploration discovery, the first well in Cairn India's three well drilling programme in Sri Lanka."
SRI LANKA FRONTIER EXPLORATION DRILLING CAMPAIGN DISCOVERY NOTIFICATION
Cairn Lanka (Pvt) Limited, a wholly owned subsidiary of Cairn India Limited, has notified the appropriate authorities in the Government of Sri Lanka of a Gas Discovery in the CLPL-Dorado-91H/1z well, drilled in a water depth of 1354m, located in the block SL 2007-01-001, Mannar Basin, Sri Lanka. Cairn Lanka (Pvt) Limited is the Operator and has a 100% participating interest in the block.
A gross 25m hydrocarbon column in a sandstone between the depths of 3043.8-3068.7m MD has been interpreted from log and MDT data to be predominantly gas bearing with some additional liquid hydrocarbon potential. Further drilling will be required to estab commerciality of the discovery.
The CLPL-Dorado-91H/1z well is the first well to be drilled in Sri Lanka in 30 years and the first well to discover hydrocarbons in the country.
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