Cairn Energy PLC Chimera well update (1960Q)

TIDMCNE

RNS Number : 1960Q

Cairn Energy PLC

17 October 2019

For Immediate Release

17 October 2019

CAIRN ENERGY PLC ("Cairn")

Chimera Well Update, UK North Sea

Cairn, operator of UKCS licence P2312, has completed drilling of wildcat well 03/17a-3, known as Chimera.

The objective of the well was to prove hydrocarbons in Paleocene Heimdal Sandstones within the Lista Formation. The well is dry.

The well was drilled to a vertical depth of 1,830 metres (m) below the sea surface and was terminated in the Lista Formation in the Paleocene. The well will now be permanently plugged and abandoned.

The well was drilled approximately 40 kilometres (km) north of the Kraken field, 140km east of Lerwick, and 400km north of Aberdeen. Water depth at the site is 135m.

Nautical Petroleum (a fully owned subsidiary of Cairn) was awarded a 100% operated interest in the licence in the UK 29th Offshore Licensing Round in 2017. Cairn subsequently farmed out a 40% non-operated interest to Suncor Energy UK Limited in 2018, and a further 15% non-operated interest to DNO North Sea (U.K.) Limited in 2019.

Well 03/17a-3 was drilled by the Stena Don mobile offshore drilling unit.

Enquiries to:

Analysts / Investors

David Nisbet, Corporate Affairs Tel: [phone]

Media

Linda Bain Corporate Affairs Tel: [phone]

Cairn Energy PLC

Patrick Handley, David Litterick Tel: [phone]

Brunswick Group LLP

About Cairn Energy PLC

Cairn is one of Europe's leading independent oil and gas exploration and development companies and has been listed on the London Stock Exchange for 30 years. Cairn has explored, discovered, developed and produced oil and gas in a variety of locations throughout the world as an operator and partner in all stages of the oil and gas lifecycle.

Cairn's exploration activities have a geographical focus in North West Europe, West Africa and Latin America, underpinned by interests in production and development assets in the North Sea. Cairn has its headquarters in Edinburgh, Scotland supported by operational offices in London, Norway, Senegal and Mexico.

For further information on Cairn please see: www.cairnenergy.com

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October 17, 2019 02:00 ET (06:00 GMT)