23 Aug '11, 2pm

Half-year results show #Cairn becoming risky bet for investors thanks to risky Arctic oil drilling

Half-year results show #Cairn becoming risky bet for investors thanks to risky Arctic oil drilling

This morning, Cairn Energy published its half-yearly results . There isn't much for the company to shout about in there; halfway through their 2011 drilling season, they have yet to find any oil in the Arctic. Keen to spin these poor results and stem its recent share price tumbles , Cairn held a press conference in London this morning. So we thought we'd go along and hand out a few leaflets reminding Cairn's investors that this already unattractive investment is looking ever riskier for shareholders - never mind the Arctic. If Cairn doesn't find any oil, the company becomes a riskier bet for investors. If it does, it faces a very real risk of a catastrophic spill in the Arctic which, apart from laying waste to a pristine corner of the Earth, will expose the fact that the company has neither the technical know how or the cash to deal with an Arctic spill. The Gulf of Mexico...

Full article: http://www.greenpeace.org.uk/blog/climate/risks-investing...

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