M'Sela West 1 Exploration Wel

RNS Number : 3648K

Cairn Energy PLC

19 April 2010

 



FOR IMMEDIATE RELEASE                                                                                                  19 April 2010

CAIRN ENERGY PLC ("Cairn")

M'Sela West 1 Exploration Well

Tunisia

MedOil, a wholly owned subsidiary of Cairn Energy PLC, has completed an exploration well offshore Tunisia in the Louza block.

The M'Sela West 1 well reached a total depth of 2,555m in the Serdj formation.

Although minor evidence of light oil was observed, the expected Isis target reservoir was not developed in the well.  The well has been plugged and abandoned without testing.

The Ensco 85 rig has been released.

Cairn has an 85% interest in the Louza permit with the remaining 15% held by Dyas Tunisia B.V an affiliate of Dyas B.V.

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 62.39% 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 Dyas is a wholly owned subsidiary of the largest privately owned conglomerate in The Netherlands, SHV Holdings N.V. and an active partner, as non operator, in oil and gas exploration, development and production joint ventures.

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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