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OSH $7.15

OSH. PNG Gasline not dead

  1. Yes thats right, contrary to what people are saying this project is far from over and Exxon Mobil are steaming ahead with companies for the sale of gas and very close to an agreement with one, perhaps this is Comalco Alumina which is in the ACIL report and maybe the Queensland Governemnt are back in talks with Exxon, as the preferred tender Enertrade, for the Townsville project might not be the only company to supply gas, do research on Coal bed seam mathane gas. The existing line which AGL have in use could be used as a connection point which again is detailed in the Annual General Meeting report 31 May 2002.

    The drilling program is underway and Moran 8 which I believe to be a gas injection well is progressing slowly but SE Gobe 10 has not far to go as there is only 400 meters left to drill, It might be a small well but its a well that will be bought into production very quickly and then Oil Search will continue on with further drilling in other areas.

    Don't write off Oil Search yet, there is some major surprises in store for the market.

    Yes I hold Oil Search.
    Mark.

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