OSH 3.02% $3.07 oil search limited

very good quarterly -

  1. 3,398 Posts.
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    OSH relaesed their quarterly repoirt yesterday - I'm not sure you could ask for a better one ...... the've effectively swapped their gold assets for oil assets ( ref buyng Chevrons stuff ...and selling out of Porgora ) ...the cost per barrel of reserves they paid for Chevrons stuff was about $5.00 and based on the increased revenue this would be fully paid for within 24 months and still with 80 % of the capital left in the ground ( thats like buying another oil stock- with reserves on a p/e of 2 ! ) .......as it is the Porgora sale will effectively fund this .....reserves are up , sales are up, volumes of production are up .......and of course they have a few containers of mirrors and beads ...just in casr the locals get twitchy. So don't worry about the gas pipeline .......the stock is worth $2.00 without it .
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