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OSH, OIL SEARCH LIMITED
early birds
post Posted: Jul 27 2021, 10:11 AM
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Posts: 13,834
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In Reply To: early birds's post @ Jul 20 2021, 11:02 AM

FY 2021 production and capex guidance maintained
On track to deliver full year 2021 production and capex guidance
Successful completion of PNG LNG major maintenance works, ahead of schedule
Q2 2021 operating revenue up 21.5% from Q1 2021
Second quarter operating revenue of US$366.2 million, up 21.5% from Q1 2021
Oil production from operated fields was up 4.6% from Q1 2021, driven by performance of Moran
Delivered a solid quarter of non-operated production, PNG LNG production averaged 8.0 MTPA (gross)
Total production of 6.6 mmboe, down 4.1% from Q1 2021, impacted by planned maintenance works
Papua LNG and Pikka oil development progressing as planned
Papua LNG technical, commercial and financing work underway in Q2 2021
Pikka project FEED continues, FID subject to appropriate risk allocation and funding
Extensive uptake of the COVID-19 vaccine among PNG workforce
No COVID-19 cases to date in Oil Search PNG field operations
Oil Search continues to assist PNG Government COVID-19 response through dedicated PNG industry task
force with supply chain and logistics as requested
Strong operating cashflows enabled continued debt repayments
US$1.2 billion total liquidity (US$504 million cash, US$697 million undrawn credit facilities)
Net debt reduced 5.3% compared to March 2021

=================

the debt level still little high for me , but looks manageable . under 4 bucks is screaming buy to me . ohmy.gif

 
early birds
post Posted: Jul 20 2021, 11:02 AM
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Posts: 13,834
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In Reply To: early birds's post @ Jul 20 2021, 10:06 AM

https://www.afr.com/companies/energy/oil-se...20210720-p58b6w

Oil Searchs weak share price combined with the leadership turmoil has caused investors and analysts to speculate that the company could become a takeover target.

The stock remains at less than half its value from before the plunge in crude oil prices in March 2020, despite the recovery in Brent oil prices to more than $US70 a barrel.

Analysts had suggested that Santos, or international majors such as ExxonMobil or Total that have interests in PNG could find Oil Search an attractive target to beef up their LNG interests in

The company, which owns a stake in Exxons PNG LNG venture as well as in the proposed Papua LNG project and in an undeveloped oil project in Alaska, said on Tuesday it has recently received a confidential non-binding and indicative change of control proposal.

Oil Search said the proposal has been carefully addressed by the board and senior management, excluding Dr Wulff, along with its advisers Goldman Sachs and Macquarie Capital and its legal advisers Allens.

Following that assessment, the proposal was rejected as it was determined to not be in OSH shareholders best interests on the terms and value proposed, it said.

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if one want to investing in current uncertainty , OSH might be good place to park your cash.
imho the take over story just start, more higher serious bid is on the way!! imho

 
early birds
post Posted: Jul 20 2021, 10:06 AM
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Posts: 13,834
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https://www.afr.com/companies/energy/oil-se...20210720-p58b6w

As reported by The Australian Financial Reviews Street Talk column, the approach for the $7.6 billion Papua New Guinean company was from Santos, offering an all-scrip merger. It would have seen Santos shareholders own 63 per cent of the combined group, and Oil Search the other 37 per cent.
==================

The ownership ratio implied a transaction price of A$4.25 per Oil Search share, based on
Santos closing price on 24 June 2021. This represented a 12.3 per cent premium to the Oil
Search closing price on 24 June 2021 of A$3.78 and a

====================

take over.... bit of opportunistic?? if bid go higher might be worth a look!! unsure.gif

 
blacksheep
post Posted: Sep 4 2019, 12:21 PM
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Posts: 6,791
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In Reply To: blacksheep's post @ Sep 3 2019, 10:57 AM

Updated chart following "the PNG Government’s completion of a comprehensive review of the Papua LNG Gas Agreement"
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Sep 3 2019, 10:57 AM
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Posts: 6,791
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In Reply To: blacksheep's post @ Aug 15 2019, 04:11 PM


QUOTE
Oil Search understands that the PNG Cabinet (National Executive Council) met yesterday to
conclude the review of the Papua LNG Gas Agreement. It is anticipated that a formal Ministerial
statement on the review will be released later today

https://www.shortman.com.au/stock?q=osh
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Aug 15 2019, 04:11 PM
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Posts: 6,791
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New PNG Government has sent a State Team to Singapore to renegotiate with Total the terms of the Papua LNG Gas Agreement signed by the previous O'Neill Government - which they claim was disadvantageous to PNG and it's people

Further update on Papua LNG Project
15 August 2019
QUOTE
SYDNEY (ASX: OSH | ADR: OISHY | PNGX: OSH)
Please see attached a press release from the Minister for Petroleum regarding the Papua LNG
Project. This follows the Minister’s release of 5 August 2019.
Peter Botten, Oil Search’s Managing Director said:

“We note the press release by the Minister for Petroleum regarding meetings between the State
Negotiating Team and Total (Operator of the Papua LNG Project) concerning the Papua LNG Gas
Agreement. We look forward to further clarity on the State’s position regarding this Agreement and
ways forward for the Project.”


read more - https://www.asx.com.au/asxpdf/20190815/pdf/...j0dkz70h232.pdf
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 


blacksheep
post Posted: Nov 16 2018, 03:03 PM
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Posts: 6,791
Thanks: 2307


Papua New Guinea paves way for Exxon, Total LNG expansion
Jonathan Barrett, Sonali Paul
3 MIN READ

QUOTE
PORT MORESBY/MELBOURNE (Reuters) - Papua New Guinea on Friday agreed to set financial terms in early 2019 for a long-awaited gas project led by France’s Total SA that will help double liquefied natural gas (LNG) exports from the Pacific island nation.

https://www.reuters.com/article/us-papua-ln...n-idUSKCN1NL02T



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
wolverine
post Posted: Aug 22 2018, 12:05 AM
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Posts: 10,059
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In Reply To: blacksheep's post @ Aug 21 2018, 02:56 PM

Meanwhile, Alaska will prove up over 1 billion barrels in due course.



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TOO MANY CHIEFS

NOT ENOUGH INDIANS
 
blacksheep
post Posted: Aug 21 2018, 02:56 PM
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Posts: 6,791
Thanks: 2307


In Reply To: blacksheep's post @ Jun 19 2018, 03:37 PM

QUAKE IMPACTS OIL SEARCH HY
QUOTE
First-half net profit down 39pc to $US79.2m
Revenue down 18pt to $US557.8m
Unfranked interim dividend of US2¢ a share, down from US4¢

https://thewest.com.au/business/energy/oil-...t-ng-b88934707z
https://www.shortman.com.au/stock?q=osh
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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jun 19 2018, 03:37 PM
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Posts: 6,791
Thanks: 2307


In Reply To: balance's post @ Feb 27 2018, 10:52 AM


Armed protesters block access, burn equipment at PNG's biggest resources project
By Papua New Guinea correspondent Eric Tlozek
Posted 22 minutes ago

QUOTE
Project operator ExxonMobil said only that it had received reports of damage to equipment.

"We are investigating reports of vandalism relating to the Angore pipeline construction project," the company said in a statement.

"Host government security forces are in the area and also investigating. Our staff are all safe.

"Production at the Hides Gas Conditioning Plant is continuing normally."

read more - http://www.abc.net.au/news/2018-06-19/lng-...-guinea/9885952

Not sure if this is happening on one of OSH's projects?

QUOTE
Oil Search operates all of PNG’s producing oil fields, holds an extensive appraisal and exploration portfolio and has a 29% interest in the PNG LNG Project, operated by ExxonMobil PNG Limited. We also hold significant interests in a number of major undeveloped gas fields, including the Elk-Antelope fields in PRL 15, operated by Total SA, and in P’nyang in PRL 3, operated by ExxonMobil.




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: abner29  
 
 


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