The find has been a source of continued embarrassment to Shell, which sold its share in the field to Cairn for $7.25m (£4m) 18 months ago.
Daily Telegraph: India fall eclipses Cairn’s oil boost
By Christopher Hope, Business Correspondent (Filed: 18/05/2004)
Investors’ concerns about the new left of centre government in India overshadowed news from Cairn Energy that its new find in Rajasthan will yield more oil than expected.
Cairn’s shares have jumped by more than 170pc since January when it unveiled the discovery of an enormous oil field in northern India, transforming the Scottish company into Britain’s biggest independent oil and gas business.
Yesterday Cairn said that the 1.1billion barrel “Mangala” field was now likely to yield between 100m barrels and 275m barrels – 75m more than previously thought – after Cairn had drilled three out of six wells there.
Sources said the tests had showed that the field was a classic “upside down pudding bowl” structure, with no obvious technical difficulties.
Bill Gammell, chief executive, said: “Confirmation of the widespread distribution of excellent high quality reservoirs in the northern part of the Block is now emerging on both a field and regional scale. This augurs well for our future activities.”
Cairn was particularly pleased that the recoverability rate had jumped from 18pc to 25pc of the total reserves because of the revision.
News of the increase sparked Cairn’s shares to jump 67 in early trading before concerns about India’s new government pegged back the shares to close up 2 at 995p.
Al Stanton, analyst at Deutsche Bank, said that there were fears a new energy minister who could view Cairn’s find differently.
Shares on the Bombay Stock Exchange yesterday posted their biggest ever “intra-day” fall over concerns that the new government could roll back economic reforms.
He said: “There are concerns about India generally and that has an impact on the shares. It is just nervousness about investments in India.”
Mr Stanton added that some investors were also profit-taking, because they had priced in the possibility of more recoverable oil from the Mangala field.
The find has been a source of continued embarrassment to Shell, which sold its share in the field to Cairn for $7.25m (£4m) 18 months ago.
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Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
