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Cairn notes suspension of Tybalt appraisal well

By BFN News | 09:53 AM | Monday 28 May, 2012

Cairn Energy has noted that Valiant Petroleum has suspended the Tybalt appraisal well in the UK North Sea. Cairn has a 40% interest through its subsidiary, Agora Oil and Gas. Valiant - which is the operator and holds 60% - said reservoir testing was unable to demonstrate the presence of moveable hydrocarbons from the well. Test points located in the lower part of the Upper Magnus Sandstone Member recovered water, while stations towards the top of the interval were tight. At 9:53am: (LON:CNE) Cairn Energy share price was +3.95p at 291.15p Story provided by