LIQUEFIED NATURAL GAS INDUSTRY – PAPUA NEW GUINEA

Woodside terms rejected by Oil Search

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Original article by Perry Williams
The Australian Financial Review – Page: 17 & 23 : 10-Sep-15

Shares in Woodside Petroleum rose by 0.81 per cent to $A29.90 on 9 September 2015. Takeover target Oil Search was down 0.63 per cent at $A7.85, which is the implied bid price based on the offer of one Woodside share for every four Oil Search shares. Oil Search directors are likely to meet shortly to discuss the bid, but they are unlikely to grant Woodside’s request for exclusivity in merger talks. Neil Beveridge of Bernstein says ExxonMobil could also be a potential bidder for Oil Search.

CORPORATES
WOODSIDE PETROLEUM LIMITED – ASX WPL, OIL SEARCH LIMITED – ASX OSH, EXXONMOBIL CORPORATION, BERNSTEIN AND ASSOCIATES, PAPUA NEW GUINEA. OFFICE OF THE PRIME MINISTER, MACQUARIE GROUP LIMITED – ASX MQG, DEUTSCHE BANK AG

Woodside’s cheap trick

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Original article by Perry Williams, Sarah Thompson
The Australian Financial Review – Page: 1 & 6 : 9-Sep-15

Shares in Oil Search closed 17.4 per cent higher at $A7.90 on 8 September 2015, in response to an $A11.6bn takeover bid from Woodside Petroleum. The offer comprises one Woodside share for every four shares in Oil Search, which values the bid at $A7.65 per share based on current share prices. However, Credit Suisse believes that Woodside would need to lift its offer to around $A10 per share to gain Oil Search’s support for the bid. Woodside shares were $A0.92 lower at $A29.66.

CORPORATES
OIL SEARCH LIMITED – ASX OSH, WOODSIDE PETROLEUM LIMITED – ASX WPL, CREDIT SUISSE (AUSTRALIA) LIMITED, UBS HOLDINGS PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, PAPUA NEW GUINEA. OFFICE OF THE PRIME MINISTER, SANTOS LIMITED – ASX STO, ORIGIN ENERGY LIMITED – ASX ORG, ROYAL DUTCH SHELL PLC, BG GROUP PLC, MERRILL LYNCH (AUSTRALIA) PTY LTD, GRESHAM PARTNERS LIMITED, HERBERT SMITH FREEHILLS PTY LTD, MORGAN STANLEY AUSTRALIA LIMITED, ALLENS

PNG project pumps up Oil Search

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Original article by Matt Chambers
The Australian – Page: 18 : 23-Jul-14

Peter Botten, MD of Australian-listed Oil Search, on 22 July 2014 issued its output data for the second quarter of calendar 2014. Production was up 120% to 3.69 million barrels of oil equivalent, mainly due to the first shipments by the $US19bn ($A20bn) Papua New Guinea LNG project in which the energy group partners Santos and lead operator ExxonMobil. Oil Search’s revenue also rose some 100% to reach $US339.7m in the three months. On the day its stock closed $A0.04 higher at $A9.54

CORPORATES
OIL SEARCH LIMITED – ASX OSH|SANTOS LIMITED – ASX STO|PAPUA NEW GUINEA LNG PROJECT|EXXONMOBIL CORPORATION|DEUTSCHE BANK AG|INTEROIL CORPORATION|TOTAL SA

Oil Search takes a healthy interest in PNG

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Original article by Rowan Callick
The Australian – Page: 21 : 9-Jul-14

Oil Search is involved in the provision of health services in Papua New Guinea. Under the leadership of MD Peter Botten, the Australian group began providing community health programs for its own staff and contractors. This expanded to meet a range of health needs, leading to the establishment of a health foundation. The entity now manages donor funds and co-ordinates delivery of health services. Botten says the program is supported by shareholders and is vital for the company’s social licence to operate

CORPORATES
OIL SEARCH LIMITED – ASX OSH, WOODSIDE PETROLEUM LIMITED – ASX WPL, BILL AND MELINDA GATES FOUNDATION