CAPRICORN ENERGY PLC

Legal Proceedings Report • Jul 21, 2020

National Storage Mechanism | Additional information

RNS Number : 5308T

Cairn Energy PLC

21 July 2020

FOR IMMEDIATE RELEASE                                                                                 21 July 2020

CAIRN ENERGY PLC ("Cairn")

India Arbitration Update

Cairn is announcing an update on its proceedings against the Government of India under the UK-India Bilateral Investment Treaty.

The Arbitral Tribunal has indicated that, whilst it has encountered some difficulties created by the Covid-19 pandemic, it does not expect significant delays and hopes to remain reasonably within the lead-time it had anticipated. Whilst it is not yet able to commit to a specific date for its ruling, it expects a "release of the Award after the end of the summer."

Cairn continues to have a high level of confidence in the arbitration and is seeking full restitution for losses of more than US$1.4 billion.

Enquiries:
Analysts/Investors
David Nisbet, Corporate Affairs	Tel: 0131 475 3000
Media
Linda Bain, Corporate Affairs	Tel: 0131 475 3000
Patrick Handley/David Litterick, Brunswick Group LLP	Tel: 0207 404 5959

About Cairn Energy PLC

Cairn is one of Europe's leading independent oil and gas exploration and development companies and

has been listed on the London Stock Exchange for 30 years.  Cairn has explored, discovered, developed and produced oil and gas in a variety of locations throughout the world as an operator and partner in all stages of the oil and gas lifecycle. 

Cairn's exploration activities have a geographical focus in the North Sea, West Africa and Latin America, underpinned by interests in production and development assets. Cairn has its headquarters in Edinburgh, Scotland supported by operational offices in London, Senegal and Mexico.

For further information on Cairn please see: www.cairnenergy.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

UPDURSSRRVUBUAR