Saturday, April 16, 2011

Goldbug100 - Oil Search (OSH.AX) 2010 results net profit after tax of US$185.6m + 39%

Oil Search OSH.AX posted a net profit after tax of US$185.6m in 2010 39% higher than in 2009. The result was achieved despite a small decline in oil and gas production and was driven by higher oil prices and a one-off-restatement of deffered tax balances. The board approved the payment of a final divdend for 2010 of two cents (2009 - 2 cents) making the total for 2010 four centes (2009 - 2 cents)

The PNG LNG project (29% owned) will have a significant impact on Oil Search, more than quadrupling its production to over 60,000 barrels of oile equivalent
a day in the first year of production. This project remains on track to commence the first LNG shipments in 2014.

The company has been exploring for oil and gas in Papua New Guinea (PNG) for over 20 years. Oil Search has exploration activities in PNG, Yemen, Iraq and Yemen.


the closing price 15 April 2011
7.25 Down 0.03




Oil Search Limited
Cuthbertson Street
Credit House
Port Moresby,
Papua New Guinea - Map
Phone: 675 322 5599
Fax: 675 322 5566
Website: http://www.oilsearch.com

Business Summary 
Oil Search Limited engages in the exploration, development, production, and sale of gas and liquid hydrocarbons. Its properties include the Kutubu oil project located in the Papuan foldbelt, southern highlands province, approximately 550 kilometers north-west of port moresby; Central Moran oil project situated in the southern highlands province, approximately 570 kilometers north-west of port moresby; Gobe oil project located in the gulf and southern highlands provinces, approximately 85 kilometers south-east of the Kutubu oil project; Hides GTE project situated in the southern highlands province, approximately 80 kilometers north-west of Kutubu; SE Mananda fields located Papuan foldbelt, southern highlands province, approximately 10 kilometers north-west of Kutubu; and Nabrajah oil field. The company also has interests in two blocks in Yemen, two blocks in the Kurdistan region of Iraq, two blocks in Tunisia, and one block in Libya. As of December 31, 2008, it had proven and probable reserves of 66.9 million barrels of oil equivalent (mmboe), as well as 886 mmboe of contingent resources.

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Russell Grant’s Daily Horoscopes: Saturday 16th April 2011


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Aries (Mar21/Apr20) Changes made either in your personal affairs or your career will transform your life for the better. It isn’t a case of how hard you are working; what matters is how much you are seen to be doing by key decision makers. Success in a creative or artistic endeavour is cause for optimism and a source of inspiration. There is no limit to what you can achieve now. All you have to do is believe in yourself and let your thoughts and imagination flow.
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Taurus (Apr21/May21) The solution, if you feel curbed by your current associations is to work on expanding your circle of friends. Be yourself when with new people. To weigh up every word you say would stifle your heart’s voice and give the wrong impression. Providing there is respect and honesty in your communications, it is unlikely anyone will be offended by your views. Honesty also helps you attract compatible relationships.
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Gemini (May22/June21) An effective way of limiting the time you spend on a matter you aren’t keen on dealing with is to ask for help! Follow someone’s suggestion to work in small teams. Devoting an extra few hours to your work could help you catch up with neglected chores. If you’re single, there’s a good chance you could fall in love with one of your clients. From the look of things, the feeling will be mutual.
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Cancer (June22/July23) You’re about to give up on a task you find difficult but others seem to think it’s easy. No matter how hard you try, you just can’t seem to get your head around it. Others will give tips, advice and show the best ways to tackle the job. All this does is confuse you more when everyone has their own methods. There are plenty of things you are good at and these are what you should be aiming for now, rather than keep trying at something you’re clearly not cut out to handle.
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Leo (July24/Aug23) Dare you take a risky walk on the wild side or are you dreaming impossible dreams? Life is like flying kites; there are times when the spool must be allowed to unwind so the kite is able to fly higher. But when the wind buffets the kite too eagerly, it needs to be reeled in to stabilise it. Today you need to find a balance between having the freedom to strike out but not so dramatically that you drift too far out of your comfort zone.
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Virgo (Aug24/Sept23) You should be absolutely sure of costings before starting on a long term business endeavour. Prior to putting your proposal before an executive committee, be sure you’re prepared for any questions they may ask. To establish a lucrative business that has any chance of success, you may also have to convince others who might invest in the idea. An exhilarating breakthrough could well put you ahead of the competition.
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Libra (Sept24/Oct23) A group project is coming to an end and someone is in a hurry to break free of this commitment. You can see the light at the end of the tunnel but you weren’t expecting it to be so important to wrap things up so quickly. Never one to make waves, you will step up your efforts to please those around you. It is time to start looking for new interests. Set about doing some research to find a course to meet your needs at the right price. Nothing is as interesting as what people think, feel and do.
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Scorpio (Oct24/Nov22) A new and different pastime will bring you into the company of people who will at first intrigue you. Conversations will seem inspirational as you discover interests and activities you’ve not had any knowledge of before. Before making any binding long term commitments, give yourself a chance to think about what’s being said. Your interest could wane as you realise these people and their beliefs are no different to anyone else!
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Sagittarius (Nov23/Dec21) You’ve been through many changes before but nothing quite like this one. Business appointments or following up a lead which may have some bearing on your career could bring an unexpected turn of events. Suddenly you are made an offer you had expected would go to someone else. It is early days yet and you are still to be given the details but this won’t stop your mind from working overtime as you ponder over exciting new ideas.
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Capricorn (Dec22/Jan20) Take the chance to catch up with what’s happening with the family. Someone in the household may have been hinting for an appliance which will make life easier for them in the future. You’ve always been generous and if you can afford it, you will happily support their request. There may be some serious matters to discuss with a neighbour and you aren’t particularly looking forward to this. The sooner you get it over with, the better.
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Aquarius (Jan21/Feb19) If you happen to be acting on a hunch at this time, then it may be amazingly accurate. You might recognise a sudden feeling or reaction as a spark of intuition and you will do well to act on this. In addition, you can sense the mood and feelings of those around you. This will help you communicate your ideas to others. Someone who previously wrote you off as a hopeless dreamer is now willing to seriously consider what you are saying. This marks a big step forward in this relationship.
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Pisces (Feb20/Mar20) Before agreeing on any social plans, check with your partner that your arrangements fall in with their agenda. If you agree to an idea on impulse, it is almost guaranteed someone whose feelings you hadn’t considered, will make their complaints loud and clear. This will leave you torn between your responsibility to your loved ones and your desire to enjoy the company of your friends.
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Russell Grant’s Weekly Horoscopes: Monday 18th April 2011


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Aries (Mar21/Apr20) There’s a strong temptation now to spend more than you can afford on personal items. This could cause problems in the family if someone feels you should be making a bigger contribution to the household budget. Even if you live on your own, give yourself a good talking to before heading to your favourite shopping centre or browsing through internet catalogues. Avoid money worries in the future by being sensible now.
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Taurus (Apr21/May21) You are likely to accomplish something big in the next four weeks and this will be an achievement you will be proud off. This week’s full moon brings old commitments to an end. This is perfect timing for new interests to begin. Hold a picture of your main hopes for yourself in mind and follow that vision. Someone who has been out of your life for some time suddenly shows up again much to your surprise.
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Gemini (May22/June21) Make a special effort to improve relationships within the family or with a romantic partner. Face up to issues that have been forcing you apart and all might be resolved and put behind you now. Be willing to devote time and attention to your loved ones who seem to need you more than usual. Think about starting a new regime if it has been a while since you’ve done much exercise. Start with a few simple strategies and build up from there.
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Cancer (June22/July23) There is something important you are trying to decide on and advice is coming your way from all directions. You sense people mean well but you can’t allow them to make decisions for you. You’re serious about new social commitments but it hasn’t helped that these have come at the same time as you take on new challenges in your career. Focus on activities that will improve your prospects of promotion in the future and leave other matters to deal with in the weekend.
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Leo (July24/Aug23) You’re on target and very soon you will score an important goal. Distractions should be ignored as much as possible or you could end up taking on more than you would like. This will divert you away from what you really want to do. Be organised and sensible and work on one or two main areas rather than scatter your energy. It may have taken longer than expected for it to come about but with one last determined effort, you will achieve your aim.
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Virgo (Aug24/Sept23) A trip to your local travel agent or an internet search could inspire you to make a holiday booking. This will be the ideal way to ease your restless feelings. Your need for something different could cause chaos and confusion in existing relationships. Friends and loved ones rarely see this side of your nature. Being assertive helps you reconnect with your adventurous side which has been buried for far too long.
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Libra (Sept24/Oct23) Your partner or someone you’re teaming up with for a future event needs to know you are serious about your commitments. They don’t want to build their hopes up only to have you change your mind at the last moment. Whatever you agree to now, tell yourself that no matter what, you aren’t going to change your mind. You must stick it out. You will gain a reputation for being unreliable if you keep letting people down when they are depending on you.
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Scorpio (Oct24/Nov22) New opportunities will be presented to you now; you may have to join forces with another person to bring some aims about. A number of unusual people will be coming into your life and this will add interest and excitement to your world. You’re determined to do all you can to give your love life a boost. If this means being imaginative and arranging a surprise for your partner, then that’s what they’re going to get!
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Sagittarius (Nov23/Dec21) Some good news that comes your way could mean your bank balance will look healthier in the not too distant future. Exciting changes are happening in your relationships, if you’re single, when you feel you’ve found the partner you have always wished for. If you are attached, monetary prospects will improve due to the good fortune of your mate. There is someone living abroad you need to get in touch with to let them know how much you’re missing them.
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Capricorn (Dec22/Jan20) Family life continues to be time consuming but happy. If you’re thinking about entering a long term financial deal, whether this is an investment idea, credit arrangement or a loan or mortgage application, all seems to be looking good. You and a new friend or partner are on the same wavelength. This could lead to a more permanent commitment. If you say you will do something, you will do it and people are learning they can rely on you.
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Aquarius (Jan21/Feb19) Although you won’t turn your back on social commitments, your enthusiasm for a group or community exercise is starting to wane. You feel more inclined, these days, to spend time at home with your family. It’s unlikely you will get much peace at home as some major home renovations could be in progress. This gives you the chance to be imaginative and to have a say in how improvements can be made for the future.
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Pisces (Feb20/Mar20) You’re tired of being in a rut, following the same routines every day. It is time to let others know you want to move forward in your relationships. Once they see how you feel, the next step will be up to them. What you do know is if they don’t share your need for a change, you and your partner or a close friend will soon be going your separate ways. If you’re really determined, you could amaze yourself by what you can achieve.
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