1. Most Discussed
  2. Gainers & Losers
OSH $9.11

News: Oil Search payments begin to flow from PNG LNG

  1. Oil Search Limited (ASX:OSH) and ExxonMobil have announced the financial completion of the PNG LNG project which came on-stream mid last year.
    The energy developer says it will receive more than $US700 million in the project’s first distribution to co-venturers. 
    The company says there is an additional $US107 million of cash in escrow that will be released in light of the completion of the construction phase. 
    Managing Director Peter Botten says this is a major milestone for the project which has been operating reliably and at above expectations for more than eight months.
    Oil Search reported a net profit of $161.8 million in the first half of the 2014 calendar year. 

Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.


Thank you for visiting HotCopper

We have detected that you are running ad blocking software.

HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.