The Exchange had sought clarification from the company with respect to news appearing in the Mint on February 9, 2015 titled "Cairn spend Rs.13,000 cr on block."<BR> <BR>The company replied stating "The Company's guidance to the market (on 22 January, 2015) during its latest quarter results announcement on the KG-Basin Block was as follows: "934 km2 of 3D seismic data was acquired at the KG Offshore (Block KG-OSN-2009/3) during the year. The short offset fast track processed 3D PSTM was delivered in November 2014 and interpretation of these data is focused upon building a high quality prospect inventory across multiple play types. Broadband PSTM processed data is expected in Q4FY15. Upon completion of interpretation of the new seismic volumes, planning for a four well drilling campaign will begin. Site survey data acquisition, required to complete drilling planning, is expected in mid-2015." Other than this recent guidance, the Company has not given any information on the said Block to any media house/agency etc.<BR> <BR>As a prudent organization, we proactively share any material information with the stock exchanges. The information referred is part of a work programme to be executed over a period of time. These forecasts are modelled on various probable exploration success scenarios. The material impact of the same would come on the success of the approved work programme."
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