Cairn target strikes oil

Cairn Energy announced that Agora Oil and Gas, a firm it is set to buy, has struck oil at its Skarfjell Prospect in the Norweigan North Sea.

Cairn Energy announced that Agora Oil and Gas, a firm it is set to buy, has struck oil at its Skarfjell Prospect in the Norweigan North Sea.

The well found very good quality upper Jurassic reservoir sandstone containing light oil over a 168m gross interval, it said.

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