Delivering Strategy Completed sale of 40% controlling stake in Cairn India to Vedanta Returned 3.5 billion to shareholders in February 2012 Total 4.5 billion returned to shareholders in last five years Greenland farm down to…
Strategic Overview To become the exploration company of choice, for Investors and Governments, by offering to explore for transformational potential in a rapid and safe manner within a well balanced exploration and production…
Cairn Focus on a Balanced Portfolio Cash, shareholding, developments, Frontier basins producing properties and cash flow Near Term Open Exploration Acreage e.g. Skarfjell e.g. Producing Asset Cyprus Spanish Appraisal…
Current Asset Base + Growth Model Pitu / Greenland / Spain / North Sea / Eastern Med Applications 1.2 billion Growth Strategy Current Value of CIL Cash stake on BSE Market Cap 2.9 billion* 1 Market Cap 2.9 billion* 2.9…
Acquisition of Agora Oil & Gas AS Private Norwegian company with non-operated exploration, appraisal and development assets in UK & Norwegian North Sea Acquisition enterprise value of 375m at 1 January 2012, when Agora held net…
Agora Oil & Gas Agora provides Cairn with: Contingent Resource 22 mmboe 2C (95% oil) 15% interest in the Catcher area planned for development 40% interest in Tybalt discovery under appraisal Prospective Resource 213 mmboe (mean net…
Skarfjell Oil Discovery April 2012 Skarfjell well 35/9-7 found high quality upper Jurassic reservoir Titan sandstones containing light oil over a 168m gross interval (net pay 53m) No fluid contact was observed down dip appraisal…
Catcher Area Catcher, Burgman and Varadero discoveries Medium grade crude (24 - 30 API) Re-mobilised and injected sands with good reservoir qualities Key uncertainty is connectivity and reservoir sweep Cairns estimate of P50…
Agora Asset Overview Net Mean Net Mean Net 2C Unrisked Risked Interest Contingent Field / Licence % Key Partners Resources Prospective Prospective Resources Resources (mmboe) 2 (mmboe) 2 (mmboe) 2 Development / appraisal…
2012 Drilling Programme Estimated Spud Dates Field / Licence Jan Feb Mar Apr May Jun Q3 Q4 UK Timon P1633 Carnaby P1430 Cladhan South P1680 Tybalt Appraisal P1632 Bonneville P1430 Bardolph P1659 Norway Skarfjell PL418…
Value Creation and Realisation in South Asia 350,000 Value creation Value Realisation 300,000 300,000 boepd 250,000 More than 40 Discoveries Cairn / Vedanta IPO of CIL Transaction cedes subsidiary control of CIL 200,000…
Greenland Key Highlights Leading acreage position 1/3rd UK North Sea North East (equivalent to 15 quadrants or 450 blocks) Bid Rounds 3 and 4 Round 1 entry (2007) with Exxon, Chevron and Husky Round 2 THULE Round 2 entry (2010)…
Greenland Second Phase - Pitu Focus (Baffin Bay Melville Basin) Pitu awarded and contract signed Jan 2011 Greenland THULE Farm out to Statoil Jan 2012 8,170 km2 (36 UK blocks or 1.2 quadrants) 20% covered by 3D seismic Cairn…
Spain France Frontier contract terms Existing permits 5 blocks awarded January 2011 Barcelona 100% interest 3D seismic targeted for Q4 2012 Spain Drilling planned for 2014/2015 Alta Mar-1 subject to necessary consents Alta…
Cyprus and Lebanon Cyprus bid round schedule (expected) Formal announcement February 2012 Bid submissions May 11 2012 Syria Contract awards August 2012 Cyprus Bid Round 2012 Cyprus Lebanon bid round schedule (expected) Lebanon…
Business Strategy Area of current focus Pitu (Other Greenland blocks) Spain (5 blocks + Applications) Transformational Exploration Near-term Exploration Appraisal and Production Development CIL + Cash Agora…
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