OSH 0.55% $7.37 oil search limited

yesterday's move - noise or something more?

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    OSH had a good move yesterday afternoon on volume. Was it just a correction from being oversold or is there something going on?? Any ideas out there??

    The buying of packages of 1 and 2 million shares (and an average of 5 million per day) almost every day for the last 6-7 weeks surely has to be someone accumulating (this is well over and above the share buyback by my calculations). And yet we haven't seen a "becoming a significant shareholder" or "change of significant shareholding" announcement. Could it just be churning by big time traders or institutions.

    Time will tell - but with time running out for signing up pipeline customers (Comalco in particular) something has got to happen soon. It would be good to get the pipedream decided one way or another. I believe OSH is undervalued even without the pipeline, and if it is canned, it sounds like an alternative gas development may well happen (such as the Japanese backed liquid stripping plant).

    Cheers

    H

 
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