PRESS RELEASE For Immediate Release 21st July, 2015 Cairn India Limited Results for the First Quarter ended 30th June, 2015~400% growth in quarterly Earnings led by improved cost performance and oil pricesFinancial Highlights· 16% improvement in crude price realization QoQ; Revenue of ₹ 2,627 crore (US$ 414 mn)

• 79% improvement in EBITDA QoQ; EBITDA of ₹ 1,302 crore (US$ 205 mn)
• 447% improvement in Profit after Tax QoQ; PAT of ₹ 835 crore (US$ 131 mn)
• Resilient Cash Flow from Operations of ₹ 1,268 crore (US$ 200 mn)
• Sustained Investments- Gross Capital Expenditure of ₹ 880 crore (US$ 139 mn)
• Gross contribution to exchequer of ₹ 4,037 crore (US$ 636 mn)

• Strong Cash and Cash Equivalents position of ₹ 16,467 crore (US$ 2.6 bn)

Operational Highlights Production· Overall gross production volume of 209,738 boepd across Rajasthan, Ravva and Cambay assets

· Steady Rajasthan production at 172,224 boepd

o Dedicated production optimization & reservoir management initiatives aid production

· Offshore production grows by 8% YoY to 37, 514 boped

o Driven by 4D seismic technology, successful infill campaign and RE-6 discovery

Development· In line with our stated growth strategy, significant progress has been made on key projects;

aimed to increase recovery by 60-80 mn barrels of oil

o Bhagyam Enhanced Oil Recovery- FDP submitted to JV

o Aishwariya Barmer Hill - Development concept finalized; FDP to be submitted shortly

o Aishwariya Infill- 6 out of 20 planned infill wells already brought online

· Current growth projects are progressing well on track:

o Gas- Terminal EPC in final stages of tendering; progress on regulatory approval for pipeline

o Mangala EOR- Injection ramped up from 25,000 blpd to 80,000 blpd QoQ

o M&A Barmer Hill Appraisal- 3 wells brought online in Q1; all 12 wells are now online

Exploration· 38th discovery in Rajasthan, Raageshwari North, flowed oil at 100 bopd initial rate

· Rajasthan appraisal program continues momentum; 3 Appraisal wells fracced and tested in Q1

· 199 sq km of 3D seismic data acquired in Rajasthan

Operational Excellence· Improvement in Rajasthan water flood operating costs by 10%: Reduced from US$5.8/boe in FY15 to US$5.2/boe in Q1 FY16

· Procurement savings of ~15%: Driven by renegotiations and softening of costs

· Drilling efficiency increased by ~15%: Average number of Drilling days per 10,000 feet reduced from 16.5 days to 14 days

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