Oil Search Ltd (OSH) will go ex dividend on 11/3/2010. The current dividend payment is 2 cents and it is 0% franked. The record date is 17/3/2010 and the dividend will be paid on 9/4/2010. Based on the full year payment the dividend yield is 0.8%.
*Current Yield: 0.4% Franking: 0% DRP Discount: 2%
*Yield has been calculated on the closing price on the 26/2/2010. Current yield is based on the current dividend payment only.
Oil Search Ltd (OSH) will go ex dividend on 14/9/2009. The current dividend payment is 2.0 cents and it is 0% franked. The record date is 18/9/2009 and the dividend will be paid on 9/10/2009. Based on the full year payment the dividend yield is 1.3%.
Current Yield 0.3% Franking: 0% DRP Discount: 2%
*Yield has been calculated on the closing price on the 26/8/2009. Current yield is based on the current dividend payment only.
Oil Search Limited (OSH) is pleased to announce that it has been awarded seven mineral exploration licences, covering approximately 17,500 square kilometres in the Strickland Basin, PNG Foreland, by the PNG Government. The purpose of these licences is to investigate the potential for Coal Seam Gas (CSG) production from coaliferous lithologies present within the Pliocene/Pleistocene Era Formation. Under the terms of the award, Oil Search has committed to spend approximately US$5 million over two years on the evaluation of existing data within the seven licences and the drilling and sampling of three shallow wells. The Company then has the option to extend the licences for an additional two years, subject to relinquishments and an additional committed work programme. Oil Search holds 100% equity in all seven licences. The licences are located in the PNG Foreland. The rank, gas content and producibility of the coals will be constrained by the proposed drilling programme. The wells required to drill these sequences are relatively shallow, with a total depth of less than 900 metres. Drilling activities will utilise mobile mineral-type drilling rigs and are therefore significantly cheaper than those targeting deeper petroleum systems. Exploration and production of CSG in Papua New Guinea is governed by the PNG Mining Act hence the licences are administered by the Mineral Resources Authority.
Oil Search’s Managing Director, Peter Botten, commented: ” Based on our extensive in-country operational experience, augmented by specialist CSG expertise, Oil Search is in an excellent position to undertake this work. While at a very early grass-roots stage, we believe there is good potential for the presence of CSG in PNG which, over time, could represent another significant source of gas. Any successful discovery of CSG resources in PNG could be integrated with supply from nearby conventional gas fields, thereby reducing the risks for any development.
