March 13, 2018 / 7:24 AM / 5 months ago

BRIEF-Cairn Energy Posts FY Operating Loss From Continuing Operations Of $‍105.2​ Mln

March 13 (Reuters) - Cairn Energy Plc:

* FY OPERATING LOSS FROM CONTINUING OPERATIONS OF $‍105.2​ MILLION VERSUS LOSS OF $148.2 MILLION YEAR AGO

* CAIRN ACHIEVED FIRST PRODUCTION FROM BOTH KRAKEN AND CATCHER DURING YEAR WITH BOTH FIELDS EXPECTED TO REACH PLATEAU BY H2 2018​

* FY PROFIT BEFORE TAX FROM CONTINUING OPERATIONS OF $‍256.4​ MILLION VERSUS LOSS OF $151.5 MILLION YEAR AGO

* ‍EXPECTS JV TO SHORTLY SANCTION NOVA DEVELOPMENT IN NORWEGIAN NORTH SEA, WHERE FIRST OIL IS EXPECTED IN 2021​

* ‍GROUP CASH AT 31 DECEMBER 2017 US$86 MILLION Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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