Cairn Energy PLC Citi Global Energy Conference Dr Mike Watts Miami, June 2012
Cairn Energy PLC Experienced exploration and production (E&P) operator FTSE 250 London listed Company (CNE) post 4.5billion sale of majority stake in Indian business Business Model Entrepreneurial exploration with focus on hidden…
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…
Track Record of Value Creation Cairn strategy creation of material growth potential Realisation and return of value to shareholders Equity raised in UK markets between 1988 and 1993: 70 million Equity raised in UK markets since…
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…
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 West Europe / Eastern Med Applications 1.1 billion ** Growth Strategy Current Value of CIL Cash stake on BSE 2.7 billion* 1 CIL 2 Holding 3 * Close of…
Business Strategy Area of current focus Pitu (Other Greenland blocks) Spain (5 blocks + Applications) Transformational Exploration Near-term Exploration Appraisal and Production Development North West CIL +…
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 Round 2 entry (2010) with…
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…
North West Europe - Agora Oil & Gas AS Agora is an explorer focusing on mature parts of the UK and Norwegian North Sea: former Revus Energy and Enterprise management and exploration team Highly experienced team with a 20 year track…
North West Europe - Catcher Area Carnaby, Catcher, Burgman and Varadero discoveries Medium grade crude (24 - 30 API) Re-mobilised and injected sands with excellent reservoir qualities Key uncertainty is connectivity and reservoir…
North West Europe - Skarfjell Oil Discovery Skarfjell well 35/9-7 found high quality upper Jurassic reservoir sandstones containing 53m light oil pay over a 168m gross Titan interval No fluid contact was observed down dip appraisal…
Mediterranean The Mediterranean is largely unexplored with significant potential Area of focus as Cairn seeks exposure to transformational exploration in a balanced portfolio Early stages of frontier exploration in Spain Expect to…
Overview Growth Focus Balanced portfolio Transformational potential New opportunities Financial Focus Strong balance sheet provides financial and operational flexibility Experienced leadership team Extensive corporate,…
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