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Cairn India strikes gas in Sri Lankan block
Cairn Lanka, a fully owned subsidiary of Cairn India, discovered natural gas in
CLPL-Dorado-91H/1z well in the block of SL 2007-01-001, Mannar Basin of Sri Lanka.
However, as per the company, further drilling will be required to establish commercial
feasibility of the discovery. The company plans to invest US$100mn to explore commercial
hydrocarbon deposits in the 3,000 sq. km. block in depths up to 1,800 metres.
Meanwhile, we maintain our Neutral view on the stock until further update.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Cairn India strikes gas in Sri Lankan block
Cairn Lanka, a fully owned subsidiary of Cairn India, discovered natural gas in
CLPL-Dorado-91H/1z well in the block of SL 2007-01-001, Mannar Basin of Sri Lanka.
However, as per the company, further drilling will be required to establish commercial
feasibility of the discovery. The company plans to invest US$100mn to explore commercial
hydrocarbon deposits in the 3,000 sq. km. block in depths up to 1,800 metres.
Meanwhile, we maintain our Neutral view on the stock until further update.
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