OSH - Oil Search

reece55 · 24 January 2007

What a run today for Oil Search........

Up 23 cents today - are we going to see it break out of the 3 - 3.60 price range that we have seen in place for the last 5 months????? Volume up, nice close on highs - I like the looks of this one here......... Instos have topped up of late and their average acquisition price is about the 3.50 - 3.60 mark, so watch this one.......

It always amazes me thought when a share has a run and is about to breakout of a consolidation pattern and everyone sells off the stock (number 3 most sold stock today on Comsec). This is when you look to get in, not out!

Best of luck to all holders.

Cheers

theasxgorilla · 24 January 2007

reece55 said:
It always amazes me thought when a share has a run and is about to breakout of a consolidation pattern and everyone sells off the stock (number 3 most sold stock today on Comsec). This is when you look to get in, not out!

Best of luck to all holders.

Cheers

They had to buy the price up almost 7% to get to all those sellers though!

Young Gun · 24 January 2007

Up almost 7% on speculation of a takeover bid from British Gas. Wouldnt be suprised to see an announcement mid next week with further details. Based on the companies reserves and any premium, what do you think a reasonable offer price for the company is? Im guessing about $5.00.

The Mint Man · 24 January 2007

Wow, only just checked back up on OSH and was pleasantly supprised with almost a 7% rise.

Young Gun said:
Up almost 7% on speculation of a takeover bid from British Gas. Wouldnt be suprised to see an announcement mid next week with further details. Based on the companies reserves and any premium, what do you think a reasonable offer price for the company is? Im guessing about $5.00.

Where is this info Young gun? maybe got a link or paper I could pick up to read this? I would be interested to read it.

cheers

Young Gun · 24 January 2007

The Mint Man said:
Wow, only just checked back up on OSH and was pleasantly supprised with almost a 7% rise.

Where is this info Young gun? maybe got a link or paper I could pick up to read this? I would be interested to read it.

cheers

Wish I could call it my own
but found this out from hotcopper another forum.

A couple of guys posted up about this including an article they sourced somewhere not sure where through :

Oil Search (OSH.AU) gaining on market speculation it could soon
fall prey to tentative LNG partner British Gas. PNG explorer and producer signs MOU with
BG in August 2006, with LNG more appealing now that PNG-Australia pipe project now less
likely to proceed. "I have always thought Oil Search was a target for a long
time," says senior trader, with cash holdings of A$300m and upwards also attractive
to bidder. OSH up 6% or 20c to A$3.52.

Bush Trader · 24 January 2007

The Mint Man said:
Wow, only just checked back up on OSH and was pleasantly supprised with almost a 7% rise.

Where is this info Young gun? maybe got a link or paper I could pick up to read this? I would be interested to read it.

cheers

Article was published in FNArena

Cheers

reece55 · 24 January 2007

Young Gun said:
Up almost 7% on speculation of a takeover bid from British Gas. Wouldnt be suprised to see an announcement mid next week with further details. Based on the companies reserves and any premium, what do you think a reasonable offer price for the company is? Im guessing about $5.00.

Young Gun
Due to the hot copper quote and the recent press, I am almost certain a price query letter is on their desk right now, which most likely will be required to be responded to before pre-open tomorrow, so I don't think we will have to wait long. It was a complete fluke that I spotted this one today - looked at 3:50 pm and saw that it was sold off on Comsec - reviewed the volume and the breakout and bought myself some. I didn't actually know the rumour till I looked after buying in!

In reference to the price, I would think $5.00 would be a bit high, considering the falls that oil and gas have had of late. They would probably have to go to at about $4.50 to get approval IMO, which implies about about a 36% premium to a VWAP for the last few months (I am assuming about $3.30 as an average price).

Best of luck here to all holders

Cheers

scsl · 24 January 2007

An OSH spokeswoman has given the standard "not aware of any pending takeover" line... I seriously hope OSH gets an offer soon!

PNG's Oil Search Says No M&A Signs As Traders Speculate

MELBOURNE (Dow Jones)--Oil Search Ltd. (OSH.AU) said Wednesday it is not aware of any pending takeover as its shares surged amid market speculation that a global producer might be interested in the Papua New Guinea oil and gas company.
With BHP Billiton (BHP), British Gas (BG.LN) and BP Plc. (BP.LN) all mentioned by traders, Oil Search shares added 7% to close at A$3.55, valuing the company at about A$3.98 billion. About 21.6 million shares or 2% of its stock changed hands, about four times the daily average.
British Gas last year signed a memorandum of understanding to look at using some of Oil Search's gas resource to underpin a liquified natural gas development in PNG.
An Oil Search spokeswoman said the company has heard about the market rumors but is not aware of any party buying a stake. The share price rise could just be the stock recovering as the oil price heads north again, she said.
"We are pretty exposed to the oil price, 95% of our production is oil, and the price had a bit of a bounce yesterday," she said.
"The stock price has come down quite strongly in the last six months so maybe we are just due for a bit of a bounce."
Growing doubts over the plan to pipe gas from PNG to Australia have seen Oil Search's shares slip from A$4.64 last year.
The company has for some time been touted as a prime takeover target and many analysts now believe the stock is cheap, especially if Oil Search can fast track its LNG plans to take advantage of the strong market conditions.
"I have thought Oil Search was a target for a long time," said a senior trader, who asked not to be named, adding that the company's cash holding of more than A$300 million is also attractive to a bidder.
Any potential buyer will have to contend with the PNG government, which holds a 17.6% stake in the company.

The Mint Man · 25 January 2007

OSH says 'I know nothing' down a couple %
we'll see.

cheers

chops_a_must · 25 January 2007

The Mint Man said:
OSH says 'I know nothing' down a couple %
we'll see.

cheers

Surely they would know about that article. Lol!

TjamesX · 1 February 2007

OSH have fessed up - PNG gas to Aus is officially dead.

Market have pushed OSH above 3.60 as it looks more likely other gas commercialisation opportunities may be more attractive (remember OSH was at 4.5-4.2 before AGL pulled out of pipeline project) if LNG etc are more attractive then could we see upwards of these prices?? - I think so

TJ

The Mint Man · 5 February 2007

OSH having a strong run today
up almost 4% at the moment.

The Mint Man · 5 February 2007

Also, just noticed OSH come up on the most popular stock list on Comsec.
5th on the most sold list ATM

chops_a_must · 5 February 2007

The Mint Man said:
Also, just noticed OSH come up on the most popular stock list on Comsec.
5th on the most sold list ATM

Yeah, but that indicates the retards.

"Better not look stupid. I'll just do whatever everyone else is doing."

It's having a really strong run, so let the uptrend take its course.

The Mint Man · 5 February 2007

chops_a_must said:
Yeah, but that indicates the retards.

"Better not look stupid. I'll just do whatever everyone else is doing."

It's having a really strong run, so let the uptrend take its course.

haha, yeh... it looks that way, up to 1st spot on the sold list since I posted last. oh well.as mentioned several times before, I wont be selling any time soon.

theasxgorilla · 10 February 2007

TjamesX said:
OSH have fessed up - PNG gas to Aus is officially dead.

Market have pushed OSH above 3.60 as it looks more likely other gas commercialisation opportunities may be more attractive (remember OSH was at 4.5-4.2 before AGL pulled out of pipeline project) if LNG etc are more attractive then could we see upwards of these prices?? - I think so

TJ

What is the fundamental story on this stock? Isn't the PNG LNG annoucement bad news? Yet excluding the last few days of last week the share price has been rather bullish.

scsl · 11 February 2007

theasxgorilla said:
What is the fundamental story on this stock? Isn't the PNG LNG annoucement bad news? Yet excluding the last few days of last week the share price has been rather bullish.

It's because the PNG project had suffered delays and cost blow outs. This allows management to now focus on other gas commercialisation options, which has been said to demonstrate "higher value and return potential".

I've read that the pipeline isn't dead yet - it'll remain an option in the medium-long term. Understandably, OSH will still keep the gas fields, as eventually, the east coast of Australia will need the supply.

The oil price continuing to rise from its low of $50 didn't hurt OSH's cause either.

chops_a_must · 14 February 2007

OSH looks as though it might be running out of steam for this little push. Hopefully it can keep the uptrend going.

The Mint Man · 20 February 2007

Just released:

RESULTS FOR THE YEAR ENDED 31 DECEMBER 2006
20 February 2007

OIL SEARCH ANNOUNCES A RECORD NET PROFIT AFTER
TAX OF US$412.0 MILLION

HIGHLIGHTS
• Oil Search’s Net Profit after Tax (NAPT) for the year December 2006 was
US$412.0 million, including a net profit of US$258.4 million relating to the
sale of licence interests to AGL.
• The core Net Profit After Tax, excluding significant items, was US$207.5
million, up 4% on the 2005 result, a record for the Company in its 77 year
history.
•Based on the core Net Profit After Tax, earnings per share rose 3% to US
18.5 cents per share, whilst cashflow per share was 11% higher at US 35.6
cents per share.
• The result was achieved despite lower production, following the sale of
producing assets to AGL. 2006 oil and gas production was 10.2 million
barrels of oil equivalent (mmboe) compared to 12.2 mmboe in 2005, with
approximately 2.5 mmboe sold to AGL. Gross daily production from the PNG
oil assets rose by 5% in 2006 versus 2005, the third successive year
production has increased from these mature fields, demonstrating further
production potential and close field management.
• The Company generated total operating revenue of US$664.5 million, based
on oil sales of 9.2 million barrels (10.8 million barrels in 2005). The impact
of lower production was largely offset by a higher average oil price of
US$67.22 per barrel (up 16% on 2005).
• At the end of December 2006, the Company had cash reserves of US$477.9
million, compared to US$212.2 million at the beginning of the year. The
substantial improvement in the Company’s balance sheet reflected strong
cash flows from operations, combined with a US$379 million payment from
AGL for assets sold in early 2006. Following receipt of the AGL sale proceeds,
Oil Search paid down outstanding debt and has since remained debt free.
• The Board has approved the payment of a US four cents final dividend for the
2006 financial year. Together with the interim dividend of US four cents per
share, paid to shareholders in October 2006, the total dividend for the year is

You will have to look at the announcements page on your brokers website, ASX or oil search site for the full ann as its 70 pages long.

Cheers

JBMMMMMMMMMM · 22 February 2007

Watched OSH open well with three large buyers total some 600,000 in bids looking for a share in OSH not going through but driving SP up to 364 looking good to hit 368+ then like magic the 3 big bid orders were gone
with oil over $60 6 middle east drilling ongoing upcoming divie wheres all the major buyers

OSH - Oil Search

reece55

theasxgorilla

Problem solved... next bubble.

Young Gun

The Mint Man

Young Gun

Bush Trader

reece55

scsl

The Mint Man

chops_a_must

Printing My Own Money

TjamesX

The Mint Man

The Mint Man

chops_a_must

Printing My Own Money

The Mint Man

theasxgorilla

Problem solved... next bubble.

scsl

chops_a_must

Printing My Own Money

The Mint Man

JBMMMMMMMMMM

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