CAPRICORN ENERGY PLC

Regulatory Filings • Oct 28, 2019

National Storage Mechanism | Additional information

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RNS Number : 2888R

Cairn Energy PLC

28 October 2019

For Immediate Release                                                                                               28 October 2019

CAIRN ENERGY PLC ("Cairn")

Mexico Drilling Update

Cairn has completed the first well in its drilling programme offshore Mexico.

The exploration target of the Alom-1 well on Block 9 was to prove hydrocarbons in stacked Pleistocene targets.

The objectives were found to be dry and the well will now be permanently plugged and abandoned.

Data has been collected and preliminary analysis indicates that the well encountered over 500 metres (m) of high-quality water bearing sands across multiple targets.  This information will help Cairn calibrate the seismic data and geological models and is being integrated to improve Cairn's understanding of the petroleum system offshore Mexico.

The well was drilled to a vertical depth of 2,056m below the sea surface and was terminated in the Pleistocene section. The well was drilled ~120 kilometres northwest of Villahermosa.

Alom-1 is Cairn's first operated exploration well in Mexico, the licence was awarded in Round 2.1 in 2017.  Cairn holds a 50% working interest (WI) with JV partners Citla Energy (35% WI) and ENI (15%WI).* 

Alom-1 was drilled by the Maersk Developer semi-submersible rig, which will now move to drill Cairn's second operated well on Block 9, Bitol-1, which is expected to commence operations in November 2019.

Non-operated drilling activity is running in parallel on Blocks 7 and 10; the first ENI operated well, Saasken-1, has commenced operations on Block 10.

* Pending Comisión Nacional de Hidrocarburos (CNH) approval

Enquiries to:

Analysts / Investors

David Nisbet, Corporate Affairs                                                                       Tel: 0131 475 3000

Media

Linda Bain Corporate Affairs                                                                            Tel: 0131 475 3000

Cairn Energy PLC

Patrick Handley, David Litterick                                                                       Tel: 0207 404 5959

Brunswick Group LLP    

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 North West Europe, West Africa and Latin America, underpinned by interests in production and development assets in the North Sea.  Cairn has its headquarters in Edinburgh, Scotland supported by operational offices in London, Norway, Senegal and Mexico.

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

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