OSH 3.29% $2.35 oil search limited

Enetrade Vs Oil Search

  1. 60 Posts.
    The proposal by Enetrade involves development of a gas supply by the supply company CH4 (Macquarie)of a new cola-seam methane production field near Moranbah and construction of a 391km, 25cm diameter pipeline from the field to Townsville and Yabulu.

    Prima facie I think this is only a supply of gas to one of the power units in Townsville namely Yabulu, the other power unit is at Mt Stuart just south of Townsville. The load for Yabulu is probably quite moderate, say 15Pj per annum.

    Again on my judgement I think this is not the end of the PNG project into Townsville, or to other parts of the state and outside the state ie AGL. Therefore if the PNG joint venture led by Exxon can make a decision to go to front end engineering and design then I still think PNG will find new buyers.

    My observation about CH4 in the northern Bowen basin would suggest that they are the least developed of the coal seam methane (csm) projects. In this context sustained deliverability of gas from a raw project becomes the critical issue.

    In summary although a serious setback in this one location (ie Townsville) I think there is still room for PNG gas if the JV takes the initiative from here.
 
watchlist Created with Sketch. Add OSH (ASX) to my watchlist
(20min delay)
Last
$2.35
Change
-0.080(3.29%)
Mkt cap ! $3.583B
Open High Low Value Volume
$2.50 $2.68 $2.30 $69.67M 23.37M

Buyers (Bids)

No. Vol. Price($)
2 46210 $2.33
 

Sellers (Offers)

Price($) Vol. No.
$2.36 131703 9
View Market Depth
Last trade - 16.10pm 27/03/2020 (20 minute delay) ?
(live)
Last
$2.32
  Change
-0.080 ( 2.66 %)
Open High Low Volume
$2.51 $2.68 $2.30 2443797
Last updated 15.59pm 27/03/2020 (live) ?
OSH (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.