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Q.

Cairn India strikes oil in KG basin ----news. Real or a ploy to boost the share price of Carin? Your views?

Asked by Good Citizen, 24 Aug '10 11:17 am
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Answers (6)

1.

KG basin is always known to have big oil and gas resources. And hence it is possible that the news is genuine.
Answered by Josna, 24 Aug '10 11:18 am

 
  
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2.

It could be brewing trouble The well and test results are being evaluated to assess the commercial potential of the discovery and to determine the future appraisal pro gramme. Cairn India, the operator, has a 49 percent stake in the block, while state-run Oil and Natural Gas Corp (ONGC) holds the remaining 51 percent participating interest. Cairn India had last week announced selling a 51-60 percent stake to London-based industrialist Anil Agarwal-led Vedanta Group Monday in a USD 8.5-USD 9.6 billion. The deal, however, may run into trouble following the minority stakeholder ONGC and the government's view that the state-owned oil explorer should be given the first right of refusal over Cairn India's shares.
Answered by venkatesaldevarajan, 24 Aug '10 11:26 am

 
  
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3.

1)It is a million dollar question. In the absence of a fair and transparent business environment in the country, one is left with no choice other than relying on the data dished out by the concerned company.
2)Today one company may issue a statement trying to convey a rosy future for it. It is not illegal. Tomorrow it may say sorry for having predicted such a rosy picture if the earlier predictions fail to materialize. It is also not illegal. But you know that it is unethical. But does our own government think so? Probably not since there are no deterrent laws to this effect.
3)As a keen observer of the market, you might be very much familiar with the existence of such trends in the past. Corporate India does not think that it is unfair and unethical to lie. It gets away with it. We have seen it all.
4)On the positive side, there may be exceptions also. However, the general public does not have any avenue to know what a fact is and what a fiction is.
Answered by Tony Fernandez, 24 Aug '10 11:45 am

 
  
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4.

It could be real
Answered by RSehgal, 24 Aug '10 01:53 pm

 
  
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5.

It is only a hype ........all KG basin KG1 to KG6 are having the contract with Mukesh Ambani ....... and Mr.Ambani May not sell the stakes to Cairn India .........
Answered by pradeep mishra, 24 Aug '10 11:23 am

 
  
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6.

Real news, sir
Answered by iqbal seth, 24 Aug '10 11:18 am

 
  
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