* Macquarie says sale likely in second half
* Cairn shares up 1.4 percent
By Tom Bergin
LONDON, Jan 13 UK oil explorer Cairn
Energy is talks about the possible sale of a stake in
its Greenland exploration interests, according to an analyst
Cairn's exploration boss Mike Watts told an industry
conference organised by investment bank Macquarie on Monday
about the talks, according to a research note published by the
bank on Thursday.
Cairn shares were up 1.4 percent at 1307 GMT, outperforming
a flat STOXX Europe 600 Oil and Gas index.
A spokeswoman for Cairn declined to comment on the note but
said the company previously announced that it planned to seek a
partner in the Greenland blocks.
Macquarie said it saw a sale of a stake in the blocks as
more likely to happen in the second half of the year, after
Cairn had completed analysis of seismic data which it hopes will
show encouraging signs of oil deposits.
Cairn's $1.2 billion Greenland drilling campaign has so far
failed to generate a single oil find - much to the pleasure of
green groups who believe drilling in the pristine Arctic region
poses too much risk to the environment.
However, the failure has been a disappointment to big oil
groups like Exxon Mobil which have also secured
exploration rights in Greenland, in the hope of opening up a
major new oil production province.