OSH-Oil search

[shasta]

AMR,
Sure its not the best country in the World to do business... This will work because its such a large resource... And it will work because OSH is PNG's largest tax payer...
I also read that the PNG LNG will double GDP (for the whole country)....
The people, the government, and OSH are all better off....
OSH revenues are set to triple...
Legacy project...
Id say right now, that OSH is the best aussie large tiered oiler and its going to triple in size (with big up, over the next few years)....

.^sc

Shrewd

I've been reading the recent presentation from OSH & the PNG LNG project is the mother of all "elephants"

Must say it is extremely impressive & has caught my attention

[shasta]

Shrewd

I've been reading the recent presentation from OSH & the PNG LNG project is the mother of all "elephants"

Must say it is extremely impressive & has caught my attention

OSH - Sept Quarterly (Holding $US550m cash, no debt, mmmm )

http://www.stocknessmonster.com/news...E=ASX&N=525656

[impacman]

SP up over the last few days. Wish I had got in at $3.50 last month. Update from CitSB FYI.

from CitiSB

Oil Search Ltd (OSH.AX): PNG Trip more about politics and M&A than a look at the assets

PNG Government Plans to Sell Holding in Oil Search - If approved by Parliament on November 18th, the PNG Government will sell its 17.56% in OSH to IPIC, a subsidiary of the Abu Dhabi Government, through the issue of an exchangeable bond at $8.55/share. The ~US$1.1Billion raised will fund the Governments back in rights to 19.4% of the PNG LNG Project as well as future capex to first hydrocarbon. We maintain our trading Buy/High Risk recommendation and target price of $6.75/share.

IPIC Deal to go before Parliament - The deal will provide necessary funding and thus speed up the Governments ability to join the Project. The Governments presence in the project was considered a necessary precedent to the JV project financing, which aims to achieve funding commitments by varying Export Credit Agencies (ECA's).

Deal may remove Short-term Take-over Options - IPIC may be required to hold the bonds for an undisclosed period before being permitted to sell. We have no direct evidence, however given the sensitivities of securing the Benefits Sharing Agreement with landowners, we consider a "no sale" period prudent as far as the PNG Government, the PNG LNG JV participants, the company and its bankers are concerned.

Deal Provides a Take-out Floor Price - The bond price of $8.55/share appears to put a floor under any potential bid price. The deal mitigates the risk that the PNG Government holds onto its OSH holding to perpetuity. Further, as IPIC is a commercial entity, a bid for Oil Search above $8.55/share after an undisclosed period would likely result in the sale of IPIC's holding in OSH shares.

I-man

[shasta]

SP up over the last few days. Wish I had got in at $3.50 last month. Update from CitSB FYI.

from CitiSB

Oil Search Ltd (OSH.AX): PNG Trip more about politics and M&A than a look at the assets

PNG Government Plans to Sell Holding in Oil Search - If approved by Parliament on November 18th, the PNG Government will sell its 17.56% in OSH to IPIC, a subsidiary of the Abu Dhabi Government, through the issue of an exchangeable bond at $8.55/share. The ~US$1.1Billion raised will fund the Governments back in rights to 19.4% of the PNG LNG Project as well as future capex to first hydrocarbon. We maintain our trading Buy/High Risk recommendation and target price of $6.75/share.

IPIC Deal to go before Parliament - The deal will provide necessary funding and thus speed up the Governments ability to join the Project. The Governments presence in the project was considered a necessary precedent to the JV project financing, which aims to achieve funding commitments by varying Export Credit Agencies (ECA's).

Deal may remove Short-term Take-over Options - IPIC may be required to hold the bonds for an undisclosed period before being permitted to sell. We have no direct evidence, however given the sensitivities of securing the Benefits Sharing Agreement with landowners, we consider a "no sale" period prudent as far as the PNG Government, the PNG LNG JV participants, the company and its bankers are concerned.

Deal Provides a Take-out Floor Price - The bond price of $8.55/share appears to put a floor under any potential bid price. The deal mitigates the risk that the PNG Government holds onto its OSH holding to perpetuity. Further, as IPIC is a commercial entity, a bid for Oil Search above $8.55/share after an undisclosed period would likely result in the sale of IPIC's holding in OSH shares.

I-man

OSH - PNG secures funding for LNG Project

http://www.stocknessmonster.com/news...E=ASX&N=531186

Am looking again at OSH & AOE...

[impacman]

Hi Shasta. Like both of them myself atm. Hold AOE already but must admit am thinking seriously about increasing. OSH certainly seems to have a lot of good potential and the PNG LNG project is huge. My problem is trying to pick when to get in. OSH would have been great at $3.50 the other month - not sure it will get back to that level. Might just watch for a little longer and see where this volatility takes us. Happy hunting!

[impacman]

Was wondering if someone could help me here. I have been watching OSH and maintain longer term interest. Was talking to a broker yesterday who indicated that it was either listed in PNG (or had some PNG flag attached to it) that meant it fell under the NZ IRD FDR rules i.e. pay 5% tax etc. Looking at the ASX it appears to be an Australian company with its registered office in Australia. Is what I have been told actually the case i.e falls under the FDR rules and if so is there an easy way of identifying company's listed on the ASX that fall under FDR rules - I can't see any different flag from other companies etc. Any help and/or advice would be much appreciated.

Thanls,

Tom

[shasta]

Was wondering if someone could help me here. I have been watching OSH and maintain longer term interest. Was talking to a broker yesterday who indicated that it was either listed in PNG (or had some PNG flag attached to it) that meant it fell under the NZ IRD FDR rules i.e. pay 5% tax etc. Looking at the ASX it appears to be an Australian company with its registered office in Australia. Is what I have been told actually the case i.e falls under the FDR rules and if so is there an easy way of identifying company's listed on the ASX that fall under FDR rules - I can't see any different flag from other companies etc. Any help and/or advice would be much appreciated.

Thanls,

Tom

It's in the All Ords & ASX200, i think you'll find OSH is safe.

Though i'll double check

[impacman]

Thanks heaps for that Shasta. It didn't seem right to me and with your comment I will dig a little deeper myself. If you come up with anything that would be great. Will post any findings from my end. Again thanks.

Cheers,

Tom

[shasta]

Thanks heaps for that Shasta. It didn't seem right to me and with your comment I will dig a little deeper myself. If you come up with anything that would be great. Will post any findings from my end. Again thanks.

Cheers,

Tom

Well 2 minutes on the OSH site & you have a wee problem

http://www.oilsearch.com/html/profile.cfm

Incorporated in PNG & on the Port Moresby exchange

Thereby not exempt to the FDR rules...

I can run you through the issues should you require

[impacman]

Thanks for that Shasta. It certainly represents a confounding variable. I should have looked for the info on their site to start with:o - a case of overlooking the obvious. I will come back to you if I have any issues coming to grips with the FDR rules/implications if that is okay. Thanks again.