OSH 0.34% $7.38 oil search limited

sold out because 'below strategic blocking stake'

  1. 549 Posts.
    From SMH:
    Woodside Petroleum spokesman Mike Lynn said the "need for Woodside to be involved gradually has dwindled" after the early delays of the PNG gas project, and the company had sought strategic interests outside PNG.

    Its interest had dropped to 6.7 per cent by the time Oil Search merged with Orogen Minerals early in 2002.

    "This is below a strategic blocking stake, so there is no need to hang on to it there if your interests lie elsewhere in the globe," Mr Lynn said.
 
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