Can anybody help. Directors buying 10/2003 at 380p&390p. Comments below on there recent update.

In the world of oil and gas, Cairn Energy served up an update on its operations in Asia. The bad news was that three shallow wells targeting the Thumbli horizon found only residual oil, suggesting that play will prove to be less productive than might have been hoped. However, good progress has been made with an earlier Thumbli discovery, Raageshwari. But there has been progress made on the Saraswati discovery and Sangu in Bangladesh continues to perform well. Seymour Pierce reckons that earnings per share will come in at 37.6p in calendar 2003 and 38.5p this year and that with the shares having falling 21.5p to 375p today they are now set to "outperform." But NAV estimates were trimmed across the board. From UK-Analyst.com: January 7th 2004

Interesting post BB, in view of latest developments. Directors obviously not stupid! Rajasthan discovery kept well under wraps!