Cairn Makes Discovery on CB/OS-2 Offshore India

Cairn spudded the CB-K-1 exploration well on the western margin of Block CB/OS-2 on March 22nd. The well was drilled to a total depth of 1,255 meters and encountered thick, high quality reservoir sands with residual oil saturations. Consequently, the well has been plugged and abandoned.

Cairn's exploration program on the established hydrocarbon producing and more prospective eastern margin continues, with a seismic survey in the shallow water and onshore eastern part of the block currently underway. Leads and prospects are emerging and it is anticipated that further exploration drilling will be undertaken in 2003 / 2004.

The Ensco 54 is now being moved to the CB-A-6 Lakshmi oil appraisal well location.