OSH
About 40km from where OSH already has a pipeline, it has just drilled and discovered USD14 billion worth of gas/condensate in PNG. Not only that, it has a processing plant which can take in more gas so the infrastructure cost will be relatively minimal. In addition, this company has a good working relationship with the tribes and government.
This morning, the share price actually fell this AM and now it has stabilized. Fell???? Isn't it incredible that people are selling when it has a major discovery! OSH is one of my biggest parcels but I could not resist topping it up. It also pays a dividend.
posted by Club Mulgoa @ 3:31 PM
2 Comments:
Bought the following day after a brisk rise due to an oil and gas discovery in PNG, purported to be worth USD$14 billion. When I bought, the market was already uninterested, prompting me to write a posting on it on my blog.
It has risen by 3% in under a month... Better return than a bank deposit. But what I am pleased about is that logical contrarian did work.
There is another ASX company with a share in this newly confirmed discovery... but because the market is uninterested in oil and gas companies, STO has remained lowish. I topped up our holdings in STO with the share purchase plan in both portfolio.
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