>CAIRN INDIA : Upgrade to reduce (Sri Lanka subsidiary notification on gas discovery)

Key takeaways from Cairn conference call on Sri Lanka gas discovery:

• Cairn Lanka Pvt Ltd. (CLPL), a wholly-owned subsidiary notified a gas discovery in CLPL Dorado - 91h/1z well located in the SL-2007-01-00 block in Mannar basin. The well is first of three well exploration programs. Remaining two wells will be drilled by end of CY11.

• This is the first hydrocarbon discovery in Sri Lanka. Well was drilled in 1,354m water depth. A 25m hydrocarbon column in the sandstone at depth 3,043-3,068m was found from drilling test results.

To read the full report: CAIRN INDIA