Jun 16:
Cairn's half-million-barrel promise, made in 2022. And made again now does ring hollow
8The company's flagship new discovery will pump 2,000 barrels a day. Not enough at all. The barrels may exist but the economics that built the company do not repeat.
8And a declining oilfield, a 10% dividend yield: the cash leaving Cairn is not going back into the reservoir.
8Clearly, India's largest private oil company is being listed as a growth story while its exploration runs at half the rate needed to stand still.
8And what is more, Vedanta lists its oil and gas arm as a pure-play but with the promoter's existing stake is already 99.99% pledged
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