India:Cairn hits oil jackpot

摘要

The UK's Cairn Energy has made a major onshore oil discovery in I India's Rajasthan Basin.The resource,estimated to contain 50m-200m barrels of oil,is likely to transform Cairn's prospects-after the discovery's announcement on 19 January 2004,shares in the minor exploration and production firm rocketed in value.A Wood Mackenzie research note says the discovery"has the potential to have a major impact on Cairn's fortunes.