Oil Search's SPP

Oil Search’s share purchase plan is almost complete with applications due by 5pm on May 9. Shareholders can purchase up to $15,000 worth of shares at $8.20, a 7% discount to the current price.The PNG LNG project will start production later this year and will transform the business; production will increase fivefold and revenues will soar, making today’s valuation appear reasonable. There is enough gas to expand the project to a third processing facility, further lifting production. Oil Search will use the proceeds of the SPP to buy a 23% stake in InterOil’s controversial Elk/Antelope gas fields for US$900m upfront....

Oil Search’s share purchase plan is almost complete with applications due by 5pm on May 9. Shareholders can purchase up to $15,000 worth of shares at $8.20, a 7% discount to the current price.

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