OSH 6/15 roadshow slides

[Li'loilady]

I'll just bite my tongue and go put some drops in my jaundiced eye.

http://www.oilsearch.com/Media/docs/1506%20Company%20Update%20Tokyo%20roadshow-1d0297d8-9514-4029-90d1-17ea21bc3c58-0.pdf

[jft310]

Slide 5 stock price rose from @$2 to @$10 Jan 05 to Jan 14 . Includes several massive secondary offerings .
Slide 23 Oil Search fails to disclose their additional financial liability of Interoil finding more assets .
Hello you owe more to Civelli and friends why not own up ??

[Palm]

Nothing to bite tongue over. Pretty bland presentation.

[petrengr1]

We might have just gotten another news flash from OilSearch. On http://tinyurl.com/q7c5nba slide 18 they show Antelope South being drilled in the second and third quarters of 2016- subject to rig availability. The last I have seen from IOC was that the well was supposed to be drilled in 2015.

[Thylacine-2]

Anybody know if OSH's buyout agreements for future payments on additional resources certified were about the same as Total's? Is there some reason they would like to put off a big discovery at AS? Are they in cahoots with somebody planning a hostile takeover? This slide 18 info about drilling AS raises questions.

[Palm]

However, in the AGM presentation they state that the "timing subject to venture approval". It seems they are convinced that we will have enough in EA to have 2 trains and they may be large. Tri, Raptor, Bobcat and Ant S are shown as expansion possibilities. Since any discovery at Ant S does not get paid until first cargo I think they are most concerned with getting EA as fully deliniated as possible for train sizing.

[Palm]

Anybody know if OSH's buyout agreements for future payments on additional resources certified were about the same as Total's? Is there some reason they would like to put off a big discovery at AS? Are they in cahoots with somebody planning a hostile takeover? This slide 18 info about drilling AS raises questions.

Thy, the clause from the OSH PR on their purchase of the PRL 15 interests states:

• Contingent payments of US$0.775/mcf for any certified 2C raw gas contingent resource within the Elk/Antelope fields greater than 7 tcf, applied to Oil Search’s gross share before Government back-in. 

I've not seen where there is a time limit on the calculation and if not, it won't matter  

[Thylacine-2]

Thanks, Palm. So OSH doesn't have additional payments for other discoveries in PRL-15.

[Palm]

That's my read on it. They only mention the add'l to be based on the EA fields within PRL 15.

[Li'loilady]

Palm wrote:

"Since any discovery at Ant S does not get paid until first cargo I think they are most concerned with getting EA as fully deliniated as possible for train sizing."

i, for one, am pleased that Ant-S might not be drilled till 2016.  Finishing up 4 and drilling 6 seems a better use of resources to me.