Cairn Energy plc. (CNE.L) in its Interim Management Statement, said that planning under way for frontier exploration drilling programme, beginning in Morocco the second-half of 2013, targeting more than 3.5 billion barrels of oil equivalent or boe of mean un-risked gross prospective resource. These preparations include sea bed site surveys and environmental surveys as well as contracting the 5th Generation semi-submersible 'Cajun Express' rig.
Simon Thomson, Chief Executive, Cairn Energy PLC said, "Cairn is a well funded business with a balanced portfolio of potentially high growth assets. Our operated 2013/2014 frontier multi-well exploration programme is on track to start later this year. This targets more than 3.5billion boe of gross resource in the Atlantic Margin, testing a variety of play types and prospects in Senegal, Morocco, Ireland and Greenland that all offer shareholders material organic growth potential."
The planned exploration drilling offshore Senegal (with JV partners FAR and Petrosen (the Senegal National Oil Company)) is targeted, subject to necessary approvals, for 2014.
Cairn said it intends to announce its interim results for the six months to 30 June 2013 on Tuesday 20 August 2013.
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