CAIRN INDIA LTD. - Clarification from Cairn India Ltd

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."