Oil Search: Interim result 2013

PNG LNG is now 90% complete and will soon deliver a fivefold increase in production and an awful lot of cash. Oh, and interim results were out, too.

Half-year results from Oil Search were a humdrum affair. Production fell 2% to 3.2m barrels of oil equivalent (mmboe) and less exploration activity drove a 6% improvement in net profit to US$114m. From earnings per share of US$0.085, a US$0.02 interim dividend was declared, unfranked and unchanged from last year (ex date 6 Sep).


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