OSH 0.00% $4.04 oil search limited

OSH IN PNG, page-8

  1. 99 Posts.
    nkarp.

    Exxon know who the key customers are to purchase gas, but its not just a case of saying these are the customers as these contracts are designed to be for a 30 year period, they are very complex and people need to be patient and let the big boys complete the work. Exxon made the positive move by advancing Front End Engineering work and this has started, they needed to do this in order to be able to deliver the first supply agreement with AGL for 2006 and there are others, without F.E.E.D going ahead Exxon will be unable to complete the delivery by the proposed date. As was stated in the Quarterly report the PNG government signed an agreement for the project to advance to a new level, this needed to be done to overcome land issues, taxes etc so once again despite what you read and see Exxon are moving at an incredible rate to secure this venture.
    We dont know for sure who is going to be the next PM in PNG as its to close to call and with Enga and the Highlands unable to declare who will represent them then its unsure who now will govern the country but the Parliament is going to sit on Monday and ealry next week we will know who will be the next PM, the Electoral commisioner has asked Sir Somare to form governemnt and yet Sir Mekere is confident he will rule the country, between now and early next week its back room dealing as both candidates rally for support, its going to be tight but I believe Sir Mekere had the numbers from Enga and the Highlands, so this has made it that much harder to know who is going to govern.

    SE Gobe 10 will be going on line soon, Oil Search is waiting to hear from Chevron to release the date for first production, but Gobe 1 was bought on stream about 10 days after rig release. Moran 8 is still on target and going ahead as planned and as with all the other wells on Moran, Moran 8 is targeting 2 reservoirs, Toro and Digimu and these results will be reported when intersected.

    There is plenty of reasons to hold on to your stock or look at buying but again do your own research and if I can be of more help, call me.
    Mark.
 
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