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Cairn reveals quarter production

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Date: Tuesday 13 May 2008

LONDON (ShareCast) - Cairn Energy said total production for the first quarter was 80,713 barrels of oil per day with average price per barrel at $61.85.

Group net cash at 31st March 2008 was approximately $698m.

The group’s Capricorn subsidiary has been awarded a contract for 2D seismic programme in Greenland, due to commence in the second half of 2008.

Capicorn has also submitted appraisal plans to the government of Bangladesh for the Magnama and Hatia prospects, while three joint bids with Santos were submitted for the 3rd licensing round offshore Bangladesh.

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