Cairn Energy draws another blank in Greenland

Cairn Energy's explorations for oil in Greenland have come up blank again.

The explorer's work in the fragile ecosystem led to a high profile protests from green campaigners but is increasingly creating a financial headache for Cairn.

Today it announced that its well, named Delta-1, was dry - its third such setback this year. In a statement, the company said it had drilled to almost 3000 metres "without encountering hydrocarbon shows".

This is Cairn's sixth unsuccessful attempt in the country's waters since drilling started in 2010.

Analysts at stockbroker Evolution issued a note on the failure to clients saying Cairn's "miserable luck continues".

The shares fell 10.7p to 284.8p.