Cairn Still On Course For IPO

June 2006 | Company News Alert

Cairn Energy, the UK-based oil producer, is still on course for a Q406 initial public offering (IPO) for its Indian business, but is still subject to a favourable oil price and market environment, according to comments by CEO Sir Bill Gammell and cited in the Financial Times. Cairn, which mainly operates on the Indian subcontinent, is hoping to raise funds for future investment in the group's promising portfolio. The group is leading a rejuvenation in the Indian upstream market, with huge new gas discoveries adding to a largely undeveloped proven and probable reserves stock. Indeed, the company recently announced a

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