Cairn Energy Made A Discovery

British firm Cairn Energy retrieve its character, announcing Monday the new gas discovery in the Rajasthan area of India.
The company?s CEO Bill Gammell said the Raageshwari-5 well was "encouraging".

Further evaluation and appraisal work is needed to fully assess the true value, Mr Gammell admitted, less than a month after he delivered disappointing drilling news which sent his shares down 18%.