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Cairn takes control of Capricorn

<br /> Cairn Energy is taking full control if its exploration subsidiary Capricorn, which owns large oil blocks in Greenland, as it boosts its focus on the North Atlantic.<br /> <br /> The company said it would buy a 10 per cent stake in Capricorn from Dyas, part of Dutch group SHV, for $95m to be paid in shares along with 15 per cent of Cairn&rsquo;s interests in Tunisia and Albania.<br /> <br /> Colin Smith, oil analyst at ICAP, said: &ldquo;This highlights Cairn's commitment to its exploration programme in Greenland. The first well is to be drilled in 2011.&rdquo;