Friday, March 26, 2010

>CAIRN INDIA: Revising estimates upwards (BRICS)

■ Rajasthan block resource potential revised upwards to 6.5 boe from 3.7 boe.
■ Plateau production of 2,40,000 bopd possible in FY13 (as against approved 1,75,000 bopd) with low incremental capex.
■ we revise our base case NAV estimate to Rs246/share (earlier Rs 227/share) at US$60/bbl and Rs 47/US$
■ Cairn remains our top pick in upstream oil segment, Upgrade to Outperform.

To read the full report: CAIRN INDIA