OSH 1.08% $7.32 oil search limited

chevron stake worth us$300m ?

  1. 549 Posts.
    An excerp from The National:
    http://www.thenational.com.pg/0722/business1.htm
    OSL grabs dominant role in PNG oil business
    By BRIAN GOMEZ
    .....
    Oil Search had not been considered a serious contender for this stake, except at a bargain price and this is what has happened partly because the company had also been selected to become operator of the country's four oilfields.
    This reportedly put contenders such as Adelaide-headquartered Santos Ltd out of the race for an asset earlier touted as being worth US$300 million.
    Petroleum and Energy Minister Sir Moi Avei said yesterday the "acquisition enables Oil Search to drive Papua New Guinea's oil and gas industry forward."
    "The Government is pleased that a PNG focused company now has the financial power, an healthy balance sheet and the voting strength to drive the industry forward," Sir Moi said.
    .....

    Whatever it's exact value, this is a positive for the company which will reap much more profit for little additonal running costs.

    Maybe once the troops arrive in the Solomons and stability returns to the region, we'll see the share price rise to the $1.20 expected by most analysts.
 
watchlist Created with Sketch. Add OSH (ASX) to my watchlist
(20min delay)
Last
$7.32
Change
-0.080(1.08%)
Mkt cap ! $11.16B
Open High Low Value Volume
$7.36 $7.37 $7.27 $23.68M 3.238M

Buyers (Bids)

No. Vol. Price($)
5 97809 $7.31
 

Sellers (Offers)

Price($) Vol. No.
$7.32 175322 8
View Market Depth
Last trade - 16.10pm 13/11/2019 (20 minute delay) ?
(live)
Last
$7.30
  Change
-0.080 ( 1.12 %)
Open High Low Volume
$7.37 $7.37 $7.28 823192
Last updated 15.59pm 13/11/2019 (live) ?
OSH (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.