That stock News

Cairn said he sell a 37 5pc Sangu gas field to its Australian partner Santos International for an undisclosed amount.

Last year, Bangladesh interest the Cairn is a loss before tax of $3. 7 m (￡ 2 3 m) on revenue of $13. 2 m and the subsidiary was estimated at $17.1 m at the end of June.

Simon Thomson, Director Business Cairn said: "during the past 16 years, cairn was an ardent supporter of international investment in Bangladesh and with its partners has invested more than $billion helps provide his people security énergétique.Cairn believes that time is a time appropriate for Santos to support the property.

Cairn shares 6 387 p rose had abandoned 17pc the month last uncertainty on the sale of its Indian to FTSE-100 minor Vedanta.

The oil and gas company based Edinburgh is still negotiating with the Government of the India and the State oil company it seeks to raise money to help finance the campaign in Greenland.

The company plans to spend 1 $5.3 for drilling in the Arctic region, but his two first offshore wells have found gas in commercial quantities.

The company said last month that it will now write off the cost of 185 m $ drilling wells in extremely cold conditions and monetary operations in Greenland for the winter.

He had been drilling a third well, but technical difficulties that delayed the completion.

Cairn is still convinced that oil exists in Greenland and the US Geological Survey estimates that 50 billion barrels of oil may be present.

View the original article here

Oil in Greenland, where the cairn is well write off the cost of 185 m $ (?167m) well in extreme conditions of the Arctic drilling and silence for winter operations.

Edinburgh business will now write off the cost of 185 m $ (￡ 167 m) of drilling in the Arctic extreme conditions and monetary operations in Greenland for the winter it was drilling a third well, but technical difficulties that delayed the completion.

Cairn is willing to spend up to $1. 6bn in the region, after having found traces of oil and gas, but not enough to be a commercial discovery.

Cairn shares fell 29?, or 7 2pc, 382?p, which would make any advance until next year.

There were also delays concern the Greenland by announcing that firms have won more than licenses to explore off its coasts are.

"They obviously have retardé.Elle was designed at the end of the month of August," said Mike Watts, Deputy Chief Executive."This process is very tight in the Danish system."

Cairn is still convinced that oil is in the area of Greenland and the US Geological Survey estimates that 50 billion barrels of oil may be present.

"While the program has failed to produce a commercial success, evidence of a hydrocarbon oil and gas working system is positive," Richard Rose, Oriel securities analyst.

Separately, desire Petroleum Explorer listed purpose Falkland, fell 66?p 6pc after saying that his Rachel wells drilling is underway.

Desire has failed to find any oil last week, but he decided to continue drilling latéralement.Ses actions were stock most traded in London last week.

Evolution securities values yesterday cut his recommendation to "buy" to "add" and lowered his price target by 128% to 66%.

View the original article here

Cairn India is listed in Mumbai, but the majority belonging to Cairn Energy, the browser centred in Edinburgh. Its main strengths are oil fields in Rajasthan, strategic importance in India and could provide much of the country's needs.

After weeks of speculation about a bid to counter State, Oil & Natural Gas Corporation (ONGC) has now written Cairn Energy asking him to articulate the qualities of Vedanta to run the champs.Il clarification is whether Vedanta "financial strength, technical capability and past experience in the field of oil and gas".

ONGC has already has fields in Rajasthan 30pc and stressed that she first right to purchase the game restant.Vedanta, pinworm Indian listed FTSE 100, insists on the fact that it has the necessary resources to develop the fields correctly.

Bill Gammell, CEO of Cairn Energy, said the week last in Mumbai that CGSB has no rights of pre-emption on the fields.

However, the Indian Government has already indicated that it will make the final decision that Vedanta has the expertise to develop regulatory approval decision champs.Une is expected at the end of the year.

Vedanta funding agreement taking about $6. 5bn debt - not far off the coast of market value of the mining company.

View the original article here