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Oil Search Limited
OSH
Trading Status: Trading
Listing Date: 01/12/1980
Market Cap
$5,797m
GICS Sector
Energy
Total Shares Quoted
2,077.9m
GICS Industry Group
Energy
Last Close
$2.79
GICS Industry
Oil, Gas &
Consumable Fuels
Share market data: as at 29/09/2020
Corporate Details Show Data Definitions
Former Names
No Former Names
| Principal Activity |
| Exploration for oil and gas fields and the development and production of such fields. |
| Head and Registered Office | |
| Address: | Level G, Stanley Esp Port Moresby, Papua New Guinea |
| Telephone: | +675 322 5599 |
| Fax: | +675 322 5566 |
| Internet: | www.oilsearch.com |
| Email: | [email protected] |
| ACN: | ARBN 055 079 868 |
| ABN: |
| Head and Registered Office Postal Address | |
| Address: | Port Moresby, Papua New Guinea |
| Australian Office | |
| Address: | 1 Bligh St Sydney, NSW 2000 |
| Telephone: | +61 2 8207 8400 |
| Fax: | +61 2 8207 8500 |
| Australian Office Postal Address | |
| Address: | Sydney, NSW 2001 |
ASX Home Exchange Sydney
Overseas Exchange Port Moresby
Report Currency USD
Number of Employees 1,607 as at 30/12/2019
Auditors Deloitte Touche Tohmatsu
Auditors Sign-Off Partner Matthew Donaldson
Banker n/a
Solicitor n/a
| Dividends | |
| Dividends Rein. Plan: | Active |
| Dividends Rein. Plan Features: | 2% discount |
| Share Registry | |
| Postal Address: | Computershare Investor Services Pty Limited Level 12, 565 Bourke St Melbourne, VIC 3001 |
| PO Box Address: |
| Important Dates | |
| Event | Date |
| AGM: | 01/05/2020 |
| Annual Report: | 24/03/2020 |
| Prelim Report: | 25/02/2020 |
| Interim Report: | 25/08/2020 |
| Account Close: | 31 December |
| Telephone: | +61 3 9415 5000 |
| Fax: | +61 3 9473 2500 |
| Internet: | www.computershare.com.au |
| Email: |
Business Summary
| Last Updated: 09/04/2020 |
| Oil Search Limited (OSH) is engaged in the exploration, development and production of oil and gas in Papua New Guinea (PNG). OSH’s main producing operations are Kutubu, Moran, SE Mananda, Gobe and Hides. Production Operations: OSH’s production includes oil, condensate, and gas. Oil is obtained from Kutubu, Moran, SE Mananda and Gobe operations while condensate and gas are obtained from Hides operation. The Oil Search-operated Central Processing Facility (CPF) resumed operations in late March, with oil production at Kutubu commencing at an initial rate of approximately 4,000 barrels of oil per day PNG LNG Project (29%): OSH is involved in an integrated upstream natural gas and liquefied natural gas (LNG) development, operated by ExxonMobil. The PNG LNG Project is a 6.9 million tonne per annum (MTPA) integrated LNG project. The gas will be sourced from the Hides, Angore and Juha gas fields and from associated gas in the Kutubu, Agogo, Moran and Gobe Main oil fields, all of which are located in the Southern Highlands and Western provinces of PNG. Normal production levels have been maintained during the first quarter of 2020, with production of 7.3 mmboe, comprising 6.3 mmboe for PNG LNG, produced at an annualised rate of 8.7 MTPA, and 1.0 mmboe for Oil Searchoperated assets. Exploration: i) Gas: The Company is presently involved in a range of appraisal and exploration activities targeted at confirming gas resources that can be optimally developed to underwrite the expansion of LNG business in PNG. Current focuses are progressed for P’nyang gas field, Hides gas field and Hides Deep exploration well. (ii) Oil: the Company made two oil discoveries, Mananda 6 and Taza 1, both of which have the potential to add materially to production base. |
Directors & Management Show Data Definitions
Directors & Management
| Current Directors | ||
| Name | Position Name | Date Appointed |
| Sir Kostas G Constantinou | Non-Executive Director | 16/04/2002 |
| Dr Agu Jan Kantsler | Non-Executive Director | 19/07/2010 |
| Mr Richard John Lee | Non-Executive Director,Non Executive Chairman |
09/05/2012 |
| Dr Eileen Joy Doyle | Non-Executive Director | 18/02/2016 |
| Sir Melchior Pesa Togolo | Non-Executive Director | 01/10/2016 |
| Ms Fiona Elizabeth Harris | Non-Executive Director | 01/01/2017 |
| Ms Susan M Cunningham | Non-Executive Director | 26/03/2018 |
| Dr Bakheet S Al Katheeri | Non-Executive Director | 26/03/2018 |
| Dr Keiran J Wulff | Chief Executive Officer,Managing Director |
25/02/2020 |
| Previous Directors | |||
| Name | Position Name | Date Appointed |
Date Resigned |
| Mr John Howard Akehurst | Executive Director | — | 14/08/2002 |
| Mr Trevor John Kennedy | Chairman | — | 17/11/2003 |
| Mr N N Beangke | Deputy Chairman | — | 12/05/2006 |
| Mr Clive P Hildebrand | Non-Executive Director | 01/01/2007 | 04/05/2007 |
| Mr Timothy Norcot Warren | Non-Executive Director | 29/05/2006 | 31/05/2010 |
| Mr Fraser Eric Ainsworth | Director | 10/10/2002 | 20/09/2010 |
| Mr Martin Douglas Eberlein Kriewaldt | Non-Executive Director | 16/04/2002 | 08/05/2012 |
| Mr John Lanktree Stitt | Non-Executive Director | 01/04/1998 | 08/05/2012 |
| Mr Robert Igara | Non-Executive Director | 16/04/2002 | 05/06/2012 |
| Mr Brian Frederick Horwood | Non-Executive Chairman | 28/05/2004 | 28/02/2013 |
| Mr Bart Philemon | Non-Executive Director | 05/11/2012 | 30/09/2016 |
| Dr Zygmunt (Ziggy) Edward Switkowski | Non-Executive Director | 22/11/2010 | 31/12/2016 |
| Mr Keith William Spence | Non-Executive Director | 09/05/2012 | 20/10/2017 |
| Mr Gerea Aopi | Executive Director | 18/05/2006 | 16/03/2018 |
| Mr Peter Robert Botten | Managing Director,Executive Director |
28/10/1994 | 25/08/2020 |
| Notes: |
| This data has been captured ONLY since 2001 |
| Current Management (Source: 30/12/2019 Annual Report) |
|
| Name | Position Name |
| Mr Stephen Gardiner | Chief Financial Officer |
| Michael J Drew | Executive Vice President Corporate & General Counsel,Company Secretary |
| Ms Elizabeth (Beth) White | Executive Vice President Gas Project Delivery |
| Mr Ian Munro | Executive Vice President Portfolio Management, Gas and Marketing |
| Mr Bart Lismont | Executive Vice President Technology & Value Assurance |
Committees
| Remuneration Committee | ||
| Name | Position Name | As at Date |
| Mr Timothy Norcot Warren | Chairman | 30/12/2008 |
| Mr John Lanktree Stitt | Member | 30/12/2008 |
| Mr Robert Igara | Member | 30/12/2008 |
| Sir Kostas G Constantinou | Member | 30/12/2008 |
| Mr Timothy Norcot Warren | Chairman | 30/12/2009 |
| Mr John Lanktree Stitt | Member | 30/12/2009 |
| Mr Robert Igara | Member | 30/12/2009 |
| Sir Kostas G Constantinou | Member | 30/12/2009 |
| Mr Timothy Norcot Warren | Chairman | 30/12/2010 |
| Mr John Lanktree Stitt | Member | 30/12/2010 |
| Mr Robert Igara | Member | 30/12/2010 |
| Sir Kostas G Constantinou | Member | 30/12/2010 |
| Mr John Lanktree Stitt | Member | 30/12/2011 |
| Mr Robert Igara | Member | 30/12/2011 |
| Sir Kostas G Constantinou | Member | 30/12/2011 |
| Dr Zygmunt (Ziggy) Edward Switkowski | Chairman | 30/12/2012 |
| Mr Bart Philemon | Member | 30/12/2012 |
| Sir Kostas G Constantinou | Member | 30/12/2012 |
| Dr Zygmunt (Ziggy) Edward Switkowski | Chairman | 30/12/2013 |
| Mr Bart Philemon | Member | 30/12/2013 |
| Mr Keith William Spence | Member | 30/12/2013 |
| Sir Kostas G Constantinou | Member | 30/12/2013 |
| Dr Zygmunt (Ziggy) Edward Switkowski | Chairman | 30/12/2014 |
| Mr Bart Philemon | Member | 30/12/2014 |
| Mr Keith William Spence | Member | 30/12/2014 |
| Sir Kostas G Constantinou | Member | 30/12/2014 |
| Dr Zygmunt (Ziggy) Edward Switkowski | Chairman | 30/12/2015 |
| Mr Bart Philemon | Member | 30/12/2015 |
| Mr Keith William Spence | Member | 30/12/2015 |
| Sir Kostas G Constantinou | Member | 30/12/2015 |
| Mr Keith William Spence | Member | 30/12/2016 |
| Sir Kostas G Constantinou | Member | 30/12/2016 |
| Mr Keith William Spence | Member | 30/12/2017 |
| Sir Kostas G Constantinou | Member | 30/12/2017 |
| Audit Committee | ||
| Name | Position Name | As at Date |
| Mr Martin Douglas Eberlein Kriewaldt | Chairman | 30/12/2008 |
| Mr Fraser Eric Ainsworth | Member | 30/12/2008 |
| Mr John Lanktree Stitt | Member | 30/12/2008 |
| Mr Robert Igara | Member | 30/12/2008 |
| Mr Martin Douglas Eberlein Kriewaldt | Chairman | 30/12/2009 |
| Mr Fraser Eric Ainsworth | Member | 30/12/2009 |
| Mr John Lanktree Stitt | Member | 30/12/2009 |
| Mr Robert Igara | Member | 30/12/2009 |
| Mr Martin Douglas Eberlein Kriewaldt | Chairman | 30/12/2010 |
| Mr Fraser Eric Ainsworth | Member | 30/12/2010 |
| Mr John Lanktree Stitt | Member | 30/12/2010 |
| Mr Robert Igara | Member | 30/12/2010 |
| Mr Martin Douglas Eberlein Kriewaldt | Chairman | 30/12/2011 |
| Mr John Lanktree Stitt | Member | 30/12/2011 |
| Mr Robert Igara | Member | 30/12/2011 |
| Mr Richard John Lee | Chairman | 30/12/2012 |
| Dr Agu Jan Kantsler | Member | 30/12/2012 |
| Mr Bart Philemon | Member | 30/12/2012 |
| Mr Keith William Spence | Member | 30/12/2012 |
| Mr Keith William Spence | Chairman | 30/12/2013 |
| Dr Agu Jan Kantsler | Member | 30/12/2013 |
| Mr Bart Philemon | Member | 30/12/2013 |
| Mr Richard John Lee | Member | 30/12/2013 |
| Ms Fiona Elizabeth Harris | Member | 30/12/2013 |
| Mr Keith William Spence | Chairman | 30/12/2014 |
| Dr Agu Jan Kantsler | Member | 30/12/2014 |
| Mr Bart Philemon | Member | 30/12/2014 |
| Mr Richard John Lee | Member | 30/12/2014 |
| Ms Fiona Elizabeth Harris | Member | 30/12/2014 |
| Mr Keith William Spence | Chairman | 30/12/2015 |
| Dr Agu Jan Kantsler | Member | 30/12/2015 |
| Mr Bart Philemon | Member | 30/12/2015 |
| Mr Richard John Lee | Member | 30/12/2015 |
| Mr Keith William Spence | Chairman | 30/12/2016 |
| Dr Agu Jan Kantsler | Member | 30/12/2016 |
| Mr Richard John Lee | Member | 30/12/2016 |
| Mr Keith William Spence | Chairman | 30/12/2017 |
| Dr Agu Jan Kantsler | Member | 30/12/2017 |
| Mr Richard John Lee | Member | 30/12/2017 |
| Ms Fiona Elizabeth Harris | Chairman | 30/12/2018 |
| Dr Bakheet S Al Katheeri | Member | 30/12/2018 |
| Mr Richard John Lee | Member | 30/12/2018 |
| Sir Kostas G Constantinou | Member | 30/12/2018 |
| Sir Melchior Pesa Togolo | Member | 30/12/2018 |
| Ms Fiona Elizabeth Harris | Chairman | 30/12/2019 |
| Dr Eileen Joy Doyle | Member | 30/12/2019 |
| Mr Richard John Lee | Member | 30/12/2019 |
| Ms Susan M Cunningham | Member | 30/12/2019 |
| Sir Kostas G Constantinou | Member | 30/12/2019 |
| Sir Melchior Pesa Togolo | Member | 30/12/2019 |
| Nominations Committee | ||
| Name | Position Name | As at Date |
| Mr Timothy Norcot Warren | Chairman | 30/12/2008 |
| Mr John Lanktree Stitt | Member | 30/12/2008 |
| Mr Robert Igara | Member | 30/12/2008 |
| Sir Kostas G Constantinou | Member | 30/12/2008 |
| Mr Timothy Norcot Warren | Chairman | 30/12/2009 |
| Mr John Lanktree Stitt | Member | 30/12/2009 |
| Mr Robert Igara | Member | 30/12/2009 |
| Sir Kostas G Constantinou | Member | 30/12/2009 |
| Mr Timothy Norcot Warren | Chairman | 30/12/2010 |
| Mr John Lanktree Stitt | Member | 30/12/2010 |
| Mr Robert Igara | Member | 30/12/2010 |
| Sir Kostas G Constantinou | Member | 30/12/2010 |
| Mr John Lanktree Stitt | Member | 30/12/2011 |
| Mr Robert Igara | Member | 30/12/2011 |
| Sir Kostas G Constantinou | Member | 30/12/2011 |
| Dr Zygmunt (Ziggy) Edward Switkowski | Chairman | 30/12/2012 |
| Mr Bart Philemon | Member | 30/12/2012 |
| Sir Kostas G Constantinou | Member | 30/12/2012 |
| Dr Zygmunt (Ziggy) Edward Switkowski | Chairman | 30/12/2013 |
| Mr Bart Philemon | Member | 30/12/2013 |
| Mr Keith William Spence | Member | 30/12/2013 |
| Sir Kostas G Constantinou | Member | 30/12/2013 |
| Dr Zygmunt (Ziggy) Edward Switkowski | Chairman | 30/12/2014 |
| Mr Bart Philemon | Member | 30/12/2014 |
| Mr Keith William Spence | Member | 30/12/2014 |
| Sir Kostas G Constantinou | Member | 30/12/2014 |
| Dr Zygmunt (Ziggy) Edward Switkowski | Chairman | 30/12/2015 |
| Mr Bart Philemon | Member | 30/12/2015 |
| Mr Keith William Spence | Member | 30/12/2015 |
| Sir Kostas G Constantinou | Member | 30/12/2015 |
| Mr Keith William Spence | Member | 30/12/2016 |
| Sir Kostas G Constantinou | Member | 30/12/2016 |
| Mr Keith William Spence | Member | 30/12/2017 |
| Sir Kostas G Constantinou | Member | 30/12/2017 |
| Dr Agu Jan Kantsler | Chairman | 30/12/2018 |
| Ms Fiona Elizabeth Harris | Member | 30/12/2018 |
| Ms Susan M Cunningham | Member | 30/12/2018 |
| Sir Kostas G Constantinou | Member | 30/12/2018 |
| Sir Melchior Pesa Togolo | Member | 30/12/2018 |
| Dr Agu Jan Kantsler | Chairman | 30/12/2019 |
| Dr Bakheet S Al Katheeri | Member | 30/12/2019 |
| Mr Richard John Lee | Member | 30/12/2019 |
| Ms Fiona Elizabeth Harris | Member | 30/12/2019 |
| Sir Kostas G Constantinou | Member | 30/12/2019 |
| Sir Melchior Pesa Togolo | Member | 30/12/2019 |
Directors’ Trades
| Directors’ Shareholdings as at last notice | |||||||
| Name | Date of Last Trade |
Date of Last Announcement |
Direct | Indirect | Options | Other | Notes |
| Agu Jan Kantsler | 27/08/2020 | 03/09/2020 | 6,767 | 55,937 | — | 3909 | 1 |
| Keith William Spence | 20/10/2017 | 25/10/2017 | 0 | 25,000 | — | 0 | |
| Richard John Lee | 27/08/2020 | 03/09/2020 | 0 | 131,433 | — | 7312 | 3 |
| Fiona Elizabeth Harris | 04/05/2020 | 08/05/2020 | 0 | 35,956 | — | 0 | |
| Zygmunt (Ziggy) Edward Switkowski | 31/12/2016 | 05/01/2017 | — | 201,829 | — | 0 | |
| Martin Douglas Eberlein Kriewaldt | 08/05/2012 | 14/05/2012 | — | 14,590 | — | 0 | |
| Fraser Eric Ainsworth | 20/09/2010 | 24/09/2010 | 0 | — | — | 0 | 7 |
| Gerea Aopi | 16/03/2018 | 19/03/2018 | 430,406 | 88,666 | — | 225230 | |
| Brian Frederick Horwood | 28/02/2013 | 01/03/2013 | — | 25,000 | — | 0 | |
| Eileen Joy Doyle | 04/05/2020 | 08/05/2020 | 0 | 41,994 | — | 0 | 10 |
| N N Beangke | 12/05/2006 | — | 0 | — | — | 0 | |
| Peter Robert Botten | 25/02/2020 | 03/03/2020 | — | 1,410,765 | — | 0 | 12 |
| John Lanktree Stitt | 08/05/2012 | 14/05/2012 | 42,190 | 10,000 | — | 0 | 13 |
| Robert Igara | 05/06/2012 | 07/06/2012 | 10,000 | — | — | 0 | |
| Clive P Hildebrand | 04/05/2007 | — | — | 12,000 | — | 0 | |
| Timothy Norcot Warren | 31/05/2010 | 31/05/2010 | 0 | — | — | 0 | |
| Melchior Pesa Togolo | 27/08/2020 | 03/09/2020 | 0 | — | — | 3450 | 17 |
| 11/05/2020 | 11,250 | — | — | 0 |
| Kostas G Constantinou | 11/05/2020 | 18 | |||||
| Keiran J Wulff | 22/05/2020 | 25/05/2020 | 241,984 | 102,122 | — | 460133 | 19 |
| Bart Philemon | 30/09/2016 | 04/10/2016 | 7,241 | — | — | 0 | |
| Susan M Cunningham | 28/08/2020 | 04/09/2020 | 0 | 11,774 | — | 0 | 21 |
| Bakheet S Al Katheeri | 27/08/2020 | 03/09/2020 | 0 | — | — | 19421 | 22 |
| Notes: | |
| 1: | 3,909 – Restricted Shares |
| 3: | 7,312 – Restricted Shares |
| 7: | As per announcement 24/09/2010 |
| 10: | As per announcement on 08/05/2020. |
| 12: | 1,336,126 – Performance Rights & Restricted Shares. |
| 13: | As per announcement on 14/05/2012 |
| 17: | 3,450 – Restricted Shares |
| 18: | Correction of an inadvertent share issue. |
| 19: | 460,133 – Performance Rights & Incentive Performance Rights. Performance Rights Lapsed. |
| 21: | 11,774 consist of 6,000 ADR’s (representing 30,000 shares). |
| 22: | 19,421 – Restricted Shares |
Directors’ Profiles
| Directors’ Profiles as at 30/12/2019 (Source: 2019 Annual Report) |
|||
| Dr Agu Jan Kantsler | |||
| Dr Kantsler worked with Woodside Petroleum, where he was Executive Vice President Exploration and New Ventures from 1995 to 2009 and Executive Vice President Health, Safety and Security from 2009 to 2010. Before joining Woodside Petroleum, he had experience with the Shell Group of Companies working in various exploration roles in Australia and internationally. He has also been a director of Forte Consolidated Limited and Savcor Group Limited. He was a director of the Australian Petroleum Production and Exploration Association for 15 years, where he chaired several committees and was Chairman from 2000 to 2002. He was a member of the Australian Government’s Council for Australian Arab Relations from 2003 to 2009. He is a former President of the Chamber of Commerce and Industry, WA and a former director of the Australian Chamber of Commerce and Industry. He is Managing Director of Transform Exploration Pty Ltd. Currently he is serving as a Chair of People Committee and member of Corporate Actions & Health, Safety and Sustainability Committee and Project and Technology Committee |
|||
|
Mr Richard John Lee
Mr Lee has experience in resource banking and international commercial. His previous senior executive roles include 16 years with CSR
Limited. He was the former Chairman of Ruralco Holdings Limited and Salmat Limited, Deputy Chairman of Ridley Corporation Limited
and a director of Newcrest Mining Limited, CSR Limited and Wesfarmers General Insurance Limited. Currently he serves as Chair of
Corporate Actions Committee. Mr Lee is an ex-officio member of Financial Risk Committee, Health, Safety and Sustainability Committee,
People Committee and Project and Technology Committee.
| Qualifications: B.Eng (Chem) (Hons), MA, FAICD, AM |
| Former Directorships of listed companies: CSR Limited (CSR), Newcrest Mining Limited (NCM), Ridley Corporation Limited (RIC) |
| Former Directorships of delisted companies: Salmat Limited (SLM) |
Ms Fiona Elizabeth Harris
Ms Harris has over twenty years of experience as a non executive director, including on a number of internationally focused listed
energy and natural resources companies, and is a former WA State President. She is currently a non-executive director of listed entity
BWP Trust. In the past three years she was also a non-executive director of Infigen Energy Limited. Prior to commencing her career as a
non-executive director, she was a partner at chartered accountants KPMG, working in Perth, San Francisco and Sydney. Currently she is
serving as a Chair of Financial Risk Committee and a member of Corporate Actions & People Committee.
| Qualifications: BCom, FCA (Aust), FAICD |
| Directorships of listed companies: BWP Trust (BWP) |
| Former Directorships of listed companies: Alexium International Group Limited (AJX), Infigen Energy (IFN), Toro Energy Limited (TOE) |
| Former Directorships of delisted companies: Alinta Limited (AAN), Altona Mining Limited (AOH), Aurora Oil & Gas Limited (AUT2), Portman Limited (PMM), Territory Resources Limited (TTY) |
Dr Eileen Joy Doyle
Dr Doyle career spans the building materials, infrastructure, industrials and logistics sectors, including senior operational roles at BHP
Limited and CSR Limited and culminating in her appointment as CEO of CSR’s Panel’s Division. She is a director of Boral Limited, Hunter
Angels Trust and SWOOP Analytics. She has previously served on a number of other Boards, including as Deputy Chairman CSIRO and
Chairman of Port Waratah Coal Services and director of GPT Group Limited and the Knights Rugby League Pty Ltd. She is serving as a
chair of Health, Safety and Sustainability Committee and a member of Financial Risk & Project and Technology Committee.
| Qualifications: BMath (Hons), MMath, MBA, PhD, FAICD, FAATSE, FAAA |
| Directorships of listed companies: Boral Limited (BLD), NEXTDC Limited (NXT) |
| Former Directorships of listed companies: GPT Group (GPT), Steel & Tube Holdings Ltd (STU-NZ) |
| Former Directorships of delisted companies: A.C.N 004 410 833 Limited (ARI), Bradken Limited (BKN), Ross Human Directions Limited (RHD) |
Sir Melchior Pesa Togolo
Sir Togolo has more than 25 years experience in the mining industry. He is currently the PNG Country Manager for Nautilus Minerals and
prior to that was the head of corporate affairs at Placer Dome Niugini Limited. He serves on Boards both in PNG and overseas, including
the Board of Panamex Singapore Holdings Limited, Heritage Park Hotel and Loloata Island Resort. He has previously served on the
Boards of a number of leading PNG companies, including NASFUND. He was a founding member of the Business Council of Papua New
Guinea and was the President of that Council for more than six years. He was awarded Knight Bachelor in the 2018 Queen’s Birthday
Honours for service to economic development, in particular in the mining and petroleum sectors, and to the community. He is currently
serving as a member of People and Financial Risk Committee .
| Qualifications: CBE, BEcon (Hons), Masters(Eco&Geography), MA (Eco |
| Directorships of listed companies: Bougainville Copper Limited (BOC) |
Sir Kostas G Constantinou
Sir Constantinou is a business figure in Papua New Guinea, holding a number of public sector and private sector appointments. He is
Chairman of various companies, including Bank of South Pacific Limited, Air Niugini, Airways Hotel and Apartments Limited, Lamana
Hotel Limited and Lamana Development Limited. He is a director of Alotau International Hotel, Heritage Park Hotel in Honiara, Gazelle
International Hotel in Kokopo, Taumeasina Island Resort in Samoa, Good Taste Company in New Zealand and Loloata Island Resort
Limited in Papua New Guinea. He is also Vice Chairman of the Employers Federation of Papua New Guinea, Honorary Consul for Greece
and Cyprus in Papua New Guinea, and Trade Commissioner for Solomon Islands to Papua New Guinea. He is serving as a member of
Financial Risk & People Committee.
| Qualifications: OBE |
Dr Keiran J Wulff
Dr Wulff has more than 30 years of experience in the international oil and gas industry, in Papua New Guinea, Australia, SE Asia, the
Middle East, North and Central Africa and North America. He worked at OilSearch from1993 to 2008, holding a range of senior technical,
operational and executive roles, including as Chief Operating Officer. He was subsequently appointed President Oil Search Middle East,
based in the UAE. In 2008, Dr Wulff left Oil Search and held various international directorship roles, including Managing Director of
Aligned Energy and Managing Director of Buru Energy. Dr Wulff returned to Oil Search in 2015, where he was initially responsible for the
business optimisation programme, focused on driving cost and efficiencies across the business following the steep decline in oil prices,
before taking over responsibility for Strategy and Commercial. He was also responsible for the rationalisation of the Company’s position
in the Middle East.
| Qualifications: PhD |
| Former Directorships of listed companies: Buru Energy Limited (BRU), ScandiVanadium Ltd (SVD) |
Ms Susan M Cunningham
Ms Cunningham has more than 35 years of oil and gas industry experience including senior executive roles at Amoco, Statoil, Texaco,
and Noble Energy, where her last role was Executive Vice President responsible for EHSR (Environment, Health, Safety and Regulatory),
global exploration and business innovation. She is also a director of Enbridge Inc. Recently she was an advisor for Darcy Partners, a
research company connecting oil and gas companies with emerging technologies. She served on the Board of the Offshore Technology
Conference (OTC) from 2003 to 2008 and was Chair of the OTC from 2009 to 2011. She was also a director of Cliffs Natural Resources
Inc from 2005 to 2014. She is serving as a member of Financial Risk Committee. She is also a member of Health, Safety and
Sustainability Committee.
| Qualifications: BA Geol & Geog |
Dr Bakheet S Al Katheeri
Dr Al Katheeri has been the Chief Executive Officer of Mubadala Petroleum since March 2017. Prior to his appointment as CEO, he held
the positions of Chief Growth Officer, responsible for all Mubadala Petroleum’s new business development and mergers and acquisitions
activity and Chief Operating Officer, overseeing both operated and non-operated assets, and United Arab Emirates (UAE) gas supply.
Before joining Mubadala Petroleum, she had a long career with Abu Dhabi National Oil Company. She is a member of a number of
industry Boards and committees in the UAE. She is serving as Chair of Project and Technology Committee, member of People Committee
and member of Health, Safety and Sustainability Committee.
| Qualifications: PhD(Bus Admin),Masters (Env Sci & Bus), UndergradD |
Directors’ Remuneration
| The Company was formed to undertake oil and gas exploration and development in Papua New Guinea. The Company was incorporated in Papua New Guinea on 17/01/1929. The Company registered in Sydney in 1934. The Company listed on Sydney Stock Exchange on 12/10/1954. The Company transferred to ASX Main Board on 01/12/1980. The Company listed on the Port Moresby Stock Exchange as an exempt foreign entity on 23/06/1999. In April 2002, OSH merged with Orogen Minerals Limited. |
| Company History |
| Directors Remuneration | |||||||||||
| Short-Term Benefits | Post-Employment Benefits |
Long-Term Benefits | Share Based Payments | ||||||||
| Directors | Salary & Fees $ |
Cash Bonus $ |
Non monetary benefits $ |
Others $ | Super $ | Termination Benefits $ |
Long Service leave $ |
Others $ | Shares $ | Options $ | Total $ |
| 2019 | |||||||||||
| Bart Lismont | 242,323 | — | — | 67,248 | — | — | — | — | — | 3,978 | 313,549 |
| Dr Agu Jan Kantsler | 210,894 | — | — | — | — | — | — | — | — | — | 210,894 |
| Dr Bakheet S Al Katheeri |
201,788 | — | — | — | — | — | — | — | — | — | 201,788 |
| Dr Eileen Joy Doyle | 210,894 | — | — | — | — | — | — | — | — | — | 210,894 |
| Elizabeth White | 515,572 | — | — | 167,332 | 14,547 | — | 15,257 | 176,394 | — | 193,956 | 1,083,058 |
| Ian Munro | 534,029 | — | — | 137,024 | 15,019 | — | 10,553 | 244,878 | — | 249,887 | 1,191,390 |
| Keiran Wulff | 898,881 | — | 171,032 | 215,880 | 14,520 | — | — | 392,403 | — | 267,772 | 1,960,488 |
| Michael Herrett | 243,923 | — | 7,982 | — | 11,920 | 599,041 | 5,377 | 336,066 | — | 101,277 | 1,305,586 |
| Mr Michael J Drew | 515,136 | — | 6,545 | 165,055 | 15,953 | — | 46,562 | 239,401 | — | 214,166 | 1,202,818 |
| Mr Peter Robert Botten |
1,860,532 | — | 330,406 | 898,297 | 14,547 | — | 75,463 | 1,401,894 | — | 1,275,840 | 5,856,979 |
| Mr Richard John Lee | 409,793 | — | — | — | — | — | — | — | — | — | 409,793 |
| Mr Stephen W Gardiner |
622,789 | — | 1,393 | 177,577 | 14,547 | — | 12,722 | 289,037 | — | 269,046 | 1,387,111 |
| Ms Fiona Elizabeth Harris |
210,150 | — | — | — | — | — | — | — | — | — | 210,150 |
| Ms Susan M Cunningham |
201,087 | — | — | — | — | — | — | — | — | — | 201,087 |
| Paul Cholakos | 268,994 | — | 73,926 | — | 10,869 | 787,390 | 5,066 | 355,696 | — | 119,043 | 1,620,984 |
| Sir Kostas G Constantinou |
193,338 | — | — | — | — | — | — | — | — | — | 193,338 |
| Sir Melchior Pesa Togolo |
193,338 | — | — | — | — | — | — | — | — | — | 193,338 |
| Total | 17,753,245 |
Company History & Listing Details Show Data Definitions
| Incorporated Details |
| — |
| Listing Details |
| For Companies listed after 1 September 1998, please refer to ASX Announcements (PDF) for each company. The Disclosure Document is usually the first document lodged. |
| ASX Listing Date: | 01/12/1980 |
No listing details available
Operational History
| Date | Article Title |
| 28/09/2020 | Oil Search Limited 2020 Interim Result & Appendix 4D Oil Search reported net loss of $266.18m for the half-year ended 30 June 2020. Revenue from ordinary activities were $625.6m, down 19% from last year. Diluted EPS was (14.97) cents compared to 10.63 cents last year. Net operating cash flow was $318.96m compared to $418.49m last year. No dividend was declared. |
| 25/08/2020 | Oil Search Limited FY20 Interim Results Presentation Oil Search provided FY20 Interim Results Presentation. It reported Production of 14.7 mmboe; Core profit after |
| tax of US$25m; and Net loss after tax of US$266m. The Revenue is down US$151m, reflecting 45% fall in average realised oil price, 15% fall in realised gas and LNG prices, offset by 2% increase in sales. Unit operated oil and gas production costs is reduced by 36% compared to 1H 2019. |
|
| 21/07/2020 | Quarterly Report to 30 June 2020 Oil Search provided quarterly report. Total production for the second quarter of 2020 was 7.29 million barrels of oil equivalent (mmboe). This included 6.40 mmboe from the PNG LNG Project, which produced at an annualised rate of 8.8 MTPA during the period, and 0.89 mmboe from its operated assets. It had liquidity of US$1.67bn comprising US$831.4m in cash and US$835.6m in undrawn credit facilities. During the quarter, the Company extended the expiry date of its US$300m of short-term bilateral facilities to 30 June 2021. |
| 13/07/2020 | Expected non-cash impairment Oil Search announced regarding expected non cash impairment. It expects to recognise a non-cash, pre-tax impairment charge of US$360 – 400m (US$250 – 300m on a post-tax basis) in its 2020 interim results, which are scheduled to be released on 25 August 2020. It has assessed the carrying value of the Company’s assets for impairment as at 30 June 2020, in accordance with the relevant accounting standards and after taking into account the potential longer-term impact of prevailing economic conditions, the outlook for oil and gas prices and the current status of other factors that could impact on value realisation. |
| 01/07/2020 | Structural Changes Implemented Oil Search completed review of its organisation and cost structure. Structural changes have been implemented to make the business leaner, provide for streamlined decision-making and establish a more integrated structure that clarifies accountabilities and drives performance. The revised organization and cost structure deliver sustainable and material reductions in operating and corporate overhead costs without compromising the health and safety of staff, contractors and communities, which remain Company’s highest priority. |
| 23/04/2020 | Retail Offer Progress Oil Search advised that as at 22 April 2020, acceptances for a total of 9,612,322 entitlements had been received from shareholders eligible to participate in the retail component of its accelerated non-renounceable pro-rata entitlement offer of fully paid ordinary shares in Oil Search (Retail Entitlement Offer). Acceptances received to date represent 25% of the available entitlements under the Retail Entitlement Offer. Details of the Retail Entitlement Offer were announced to the ASX on 7 April 2020 and the Retail Offer Booklet and personalised Entitlement and Acceptance Forms were dispatched to eligible retail shareholders on 16 April 2020. The Retail Entitlement Offer closes on 27 April 2020 at 5:00pm Sydney time and will not be extended. |
| 21/04/2020 | Quarterly Report to 31 March 2020 Oil Search provided its Quarterly Activities Report for the period ending 31 March 2020. It reported production increased 5%, supported by a continued positive performance from PNG, which produced at an annualised rate of 8.7 MTPA, and a 43% increase in operated production. Total revenue impacted by a 13% fall in sales, due to timing of shipments, and 20% lower oil prices. 2020 full year investment expenditure is reduced by 40% and US$700m equity raise announced in early April 2020, materially strengthening the balance sheet. |
| 08/04/2020 | Completion of Placement and Institutional Entitlement Issue Oil Search announced the successful completion of its placement to institutional investors (Placement) and the institutional component of its 1 for 8 accelerated pro-rata non-renounceable entitlement offer (Institutional Entitlement Offer) of new ordinary shares in Company (New Shares). The Placement and Institutional Entitlement Offer raised A$1,080m (US$650m), excluding estimated transaction costs at an offer price of A$2.10 per share (Offer Price). |
| 07/04/2020 | Oil Search 2019 Full Year Results Oil Search reported NPAT down 8.44% to $312.42m for the year ended 31 December 2019. Revenue from ordinary activities were $1,584.80m, up 3.2% from last year. Diluted EPS was 20.41 cents compared to 22.32 cents last year. Net operating cash flow was $752.35m compared to $854.63m last year. The final dividend declared was 4.5 cents, taking the full year dividend to 9.5 cents compared with 10.5 cents last year. |
| 07/04/2020 | Presentation on Business Update and Equity Raising Oil Search provided presentation on business update and equity raising. It reported about US$700m accelerated pro-rata non-renounceable entitlement offer and institutional placement at an offer price of A$2.10 per share. The proceeds will be used to strengthen the balance sheet and provide additional liquidity, given the material decline in oil prices. The Company advised of no change to 2020 production guidance of 27.5-29.5 mmboe, with 2020 first quarter production of 7.3 mmboe. |
| 07/04/2020 | Business Update and Equity Raising Oil Search announced an accelerated pro-rata non-renounceable entitlement offer, an institutional placement and an offer to eligible PNG shareholders, to raise a total of up to US$700m. The proceeds of the raise (the Equity Raising) will be used to strengthen Company’s balance sheet and increase liquidity, so that it can withstand a prolonged period of low oil prices. The Equity Raising will be conducted at an offer price of A$2.10 per share which represents a 23.1% discount to Company’s last closing price and an 18.0% discount to the Theoretical Ex Rights Price. The Company is implementing business continuity plans and amending work practices in response to COVID-19, to reduce risk to employees, contractors and local communities while also ensuring safe and reliable operations. |
| 06/04/2020 | Trading Halt The securities of Oil Search will be placed in trading halt session state at the request of the Company, until the earlier of the commencement of normal trading on 14 April 2020 or when the announcement is released to the market. |
| 02/04/2020 | March 2020 Drilling Report Oil Search provided drilling update for the month of March 2020. The Company noted that Mitquq ST1 |
| exploration well was drilled to a total depth of 1,583 metres (5,195 feet). The well intersected the Nanushuk reservoir at 1,322 metres (4,336 feet) and encountered 52.5 metres (172 feet) of net hydrocarbon pay, including a nine metre (29 feet) gas cap. The well flowed at a stabilised rate of 1,730bopd, with a gas:oil ratio of 310 standard cubic feet per stock tank barrel with less than 2% water cut on a 128/64″ choke. This test was obtained over a onehour period. During the month, coring was completed at the Stirrup 1 exploration well. The well intersected the targeted Nanushuk reservoir at 1,322 metres (4,314 feet), encountering 23 metres (75 feet) of net oil pay. |
|
| 31/03/2020 | Successful well tests completed in Alaska Oil Search advised that testing of the Nanushuk reservoirs encountered in the Mitquq 1 ST1 and the Stirrup 1 wells has been completed. Both wells were drilled, logged, cored and flow tested. The flow tests included a clean-up, flow period and a pressure build-up prior to the final flow test to assess well deliverability. Mitquq 1 ST1, a sidetrack from the Mitquq 1 oil discovery, located 9km east of the proposed central processing facility of the Pikka Unit Development, encountered a net pay zone of 52.5 metres (172 feet) with a gas cap of 9 metres (29 feet). On test, the well flowed at a stabilised rate of 1,730 bopd from a single stimulated zone. On test, the well flowed at a stabilised rate of 3,520 bopd from a single stimulated zone. |
| 18/03/2020 | Capex and balance sheet update Oil Search announced that it has undertaken a comprehensive review of its planned activities in 2020. The objective of the review has been to minimise forward expenditure and maximise liquidity, while protecting the Company’s base value and preserving the option to deliver its class growth projects when market conditions improve. It has prepared comprehensive business continuity plans and is well advanced in its preparations to adjust its work practices and exposures, to reduce the risk of disruption to reliable and safe operations from COVID-19. It has also commenced a systematic review of all operating and corporate overhead costs, aimed at delivering a sustainable, material reduction in these costs without compromising the ongoing and safe production of oil, condensate in PNG. |
| Takeovers Note: Please go to Advanced Search to search for more specific criteria relating to takeovers. |
Show Data Definitions |
There have been no takeover offers for this company since 1 July 1995. To view a list of takeovers by target company….click here
Issued Capital Show Data Definitions
Capital Table
| ASX Code |
Class | Number | Expiry Date |
Exercise Price $ |
Date of Change |
| OSH | EQY | 2,077,850,664 | — | 10/09/2020 | |
| OSHAJ | RGT | 4,796,488 | — | 10/09/2020 | |
| OSHAK | RGT | 4,485,433 | — | 10/09/2020 |
| Notes: |
| Unquoted Securities: OSHAJ – performance rights OSHAK – share rights |
Capital History
| Date | Capital Issue | Change | Total |
| 29/05/2020 | Ordinary shares issued at PGK$4.36 per share fully paid being a placement to raise additional working capital. |
753,915 | 2,077,850,664 |
| 05/05/2020 | Ordinary shares issued at $2.10 per share fully paid being retail allocations pursuant to the company’s JUMBO issue. |
38,116,794 | 2,077,096,749 |
| 20/04/2020 | Ordinary shares issued at $2.10 per share fully paid being an institutional placement pursuant to the company’s JUMBO issue. |
361,740,236 | 1,886,487,221 |
| 20/04/2020 | Ordinary shares issued at $2.10 per share fully paid being institutional allocations pursuant to the company’s JUMBO issue. |
152,492,734 | 2,038,979,955 |
| 20/05/2019 | Ordinary shares issued at $7.60 per share fully paid pursuant to the company’s Executive and Employee Equity Plans. |
1,115,793 | 1,524,746,985 |
| 24/05/2017 | Ordinary shares issued at $7.30 per share fully paid to satisfy vesting of share rights and allocation of restricted shares. |
938,605 | 1,523,631,192 |
| 09/10/2014 | Ordinary shares issued at $9.12 per share fully paid pursuant to the company’s Dividend Reinvestment Plan. |
2,309,820 | 1,521,332,045 |
| 09/10/2014 | Ordinary shares issued at $8.94 per share fully paid pursuant to the company’s Dividend Reinvestment Plan |
1,360,542 | 1,522,692,587 |
| 27/05/2014 | ordinary shares issued at $8.20 per share fully paid pursuant to the company’s Share Purchase Plan. |
22,329,772 | 1,519,022,225 |
| 10/04/2014 | ordinary shares issued at $8.34 per share fully paid pursuant to the company’s Dividend Reinvestment Plan. |
1,744,275 | 1,494,495,669 |
| 10/04/2014 | ordinary shares issued at $8.51 per share fully paid pursuant to the company’s Dividend Reinvestment Plan. |
2,196,784 | 1,496,692,453 |
| 17/03/2014 | ordinary shares issued at $8.20 per share fully paid being a placement to raise additional working capital. |
149,390,244 | 1,492,751,394 |
| 10/10/2013 | ordinary shares issued at $8.50 per share fully paid pursuant to the company’s Dividend Reinvestment Plan. |
1,283,914 | 1,341,302,444 |
| 10/10/2013 | ordinary shares issued at $8.67 per share fully paid pursuant to the company’s Dividend Reinvestment Plan. |
2,058,706 | 1,343,361,150 |
| 22/05/2013 | ordinary shares issued fully paid being payment to satisfy the vesting and exercise of employee share appreciation rights and performance rights. |
1,775,000 | 1,340,018,530 |
| 11/04/2013 | ordinary shares issued at $7.51 per share fully paid pursuant to the company’s Dividend Reinvestment Plan. |
1,900,006 | 1,336,656,748 |
| 11/04/2013 | ordinary shares issued at $7.37 per share fully paid pursuant to the company’s Dividend Reinvestment Plan. |
1,586,782 | 1,338,243,530 |
| 10/10/2012 | ordinary shares issued at $7.40 per share fully paid pursuant to the company’s Dividend Reinvestment Plan. |
1,242,799 | 1,332,598,846 |
| 10/10/2012 | ordinary shares issued at $7.55 per share fully paid pursuant to the company’s Dividend Reinvestment Plan. |
2,157,896 | 1,334,756,742 |
| 11/05/2012 | ordinary shares issued fully paid pursuant to the exercise of unquoted employee options. |
2,510,333 | 1,331,356,047 |
| 12/04/2012 | ordinary shares issued at $6.95 per share fully paid pursuant to the company’s Dividend Reinvestment Plan. |
2,017,775 | 1,328,845,714 |
| 12/04/2012 | ordinary shares issued at $6.81 per share fully paid being payment for underwriting services provided to the company. |
1,672,768 | 1,326,827,939 |
| 12/10/2011 | ordinary shares issued at $5.75 per share fully paid being payment for Dividend Reinvestment Plan underwriting services provided to the company. |
3,017,882 | 1,325,155,171 |
| 12/10/2011 | ordinary shares issued at $5.64 per share fully paid pursuant to the company’s Dividend Reinvestment Plan. |
1,488,911 | 1,322,137,289 |
| 06/05/2011 | ordinary shares issued fully paid pursuant to the company’s Restricted Shares Plan. | 3,975,651 | 1,320,648,378 |
| 12/04/2011 | ordinary shares issued at $7.06 per share fully paid pursuant to the company’s Dividend Reinvestment Plan. |
2,715,366 | 1,316,672,727 |
| 12/04/2011 | ordinary shares issued at $6.92 per share fully paid pursuant to the company’s Dividend Reinvestment Plan Underwriting Commitment. |
1,069,058 | 1,313,957,361 |
| 13/10/2010 | ordinary shares issued at $6.12 per share fully paid to the company’s Dividend Reinvestment Plan underwriter pursuant to the underwriting agreement. |
2,956,028 | 1,312,888,303 |
| 13/10/2010 | ordinary shares issued at $6.00 per share fully paid pursuant to the company’s Dividend Reinvestment Plan. |
1,653,053 | 1,309,932,275 |
| 13/05/2010 | ordinary shares issued fully paid pursuant to the Restricted Shares Plan | 3,900,448 | 1,308,279,222 |
| 13/04/2010 | ordinary shares issued at $5.80 per share fully paid pursuant to the company’s Dividend Reinvestment Plan. |
1,691,539 | 1,304,378,774 |
| 13/04/2010 | ordinary shares issued at $5.92 per share fully paid pursuant to the company’s Dividend Reinvestment Plan. |
3,125,015 | 1,302,687,235 |
| 18/12/2009 | ordinary shares issued at $5.79 per share fully paid pursuant to the company’s Share Purchase Plan. |
6,874,669 | 1,299,562,220 |
| 26/10/2009 | ordinary shares issued at $5.90 per share fully paid being an institutional placement to raise additional working capital. |
151,686,182 | 1,292,687,551 |
| 13/10/2009 | ordinary shares issued at $6.26 per share fully paid pursuant to the company’s Dividend Reinvestment Plan. |
1,289,341 | 1,141,001,369 |
| 13/10/2009 | ordinary shares issued at $6.39 per share fully paid pursuant to the underwriting commitment for the company’s Dividend Reinvestment Plan. |
2,828,355 | 1,139,712,028 |
| 30/07/2009 | ordinary shares issued fully paid pursuant to the company’s Employee Share Option | 4,611,679 | 1,136,883,673 |
| and Performance Rights Plan. | |||
| 12/05/2009 | ordinary shares issued at $4.93 per share fully paid pursuant to the company’s Dividend Reinvestment Plan. |
2,945,598 | 1,132,271,994 |
| 12/05/2009 | ordinary shares issued at $5.03 per share fully paid to the company’s Dividend Reinvestment Plan underwriter. |
9,485,203 | 1,129,326,396 |
| 12/12/2006 | ordinary shares issued fully paid pursuant to the company’s Employee Performance Rights Plan. |
345,865 | 1,119,841,193 |
| 27/03/2006 | ordinary shares issued at $1.466 per share fully paid pursuant to the exercise of unquoted employee options that expired 19 March 2006. |
435,000 | 1,119,495,328 |
| 15/03/2006 | ordinary shares issued at $1.466 per share fully paid pursuant to the exercise of unquoted options expiring 19 March 2006. |
100,000 | 1,119,060,328 |
| 03/03/2006 | ordinary shares issued at $1.466 per share fully paid pursuant to the exercise of unquoted options expiring 19 March 2006 |
30,000 | 1,118,960,328 |
| 07/02/2006 | ordinary shares issued at $1.466 per share fully paid pursuant to the exercise of unquoted employee options. |
35,000 | 1,118,930,328 |
| 15/12/2005 | ordinary shares issued at $1.466 per share fully paid pursuant to the exercise of unquoted options expiring 19 March 2006. |
50,000 | 1,118,895,328 |
| 07/12/2005 | ordinary shares issued at $1.466 per share fully paid pursuant to the exercise of unquoted options. |
72,000 | 1,118,845,328 |
| 31/10/2005 | ordinary shares issued at $1.466 per share fully paid pursuant to the exercise of unquoted options expiring 19 March 2006. |
86,334 | 1,118,773,328 |
| 03/10/2005 | ordinary shares issued at $1.466 per share fully paid pursuant to the exercise of unquoted options expiring 19 March 2006. |
50,000 | 1,118,686,994 |
| 23/09/2005 | ordinary shares issued at $1.466 per share fully paid pursuant to the exercise of unquoted options expiring 19 March 2006. |
265,000 | 1,118,636,994 |
| 10/08/2005 | ordinary shares issued at $1.466 per share fully paid pursuant to the exercise of unquoted options. |
95,000 | 1,118,371,994 |
Corporate Actions Show Data Definitions
Bonus Issues
| Security Code |
Issue Term |
Share Issued |
Ex Date |
Book Close Date |
Source of Issues |
Dividend Rank Date |
Pari Passu |
| There have been no Bonus Issues offers for this company since 1 July 1999. To view a list of corporate actions by data set….click here |
Calls Payable
| Security Code |
Par Value |
Shares Issued |
Paid Up Capital-Old |
Paid Up Capital-New |
Call Money Capital |
Call Money Premium |
Due Date |
| There have been no Calls Payable offers for this company since 1 July 1999. To view a list of corporate actions by data set….click here |
Cash Issues
| Security Code |
Issue Type |
Share Issued |
Issue Terms |
Fractions | App. Money |
Ex Date |
Books Close | Applications Close |
Renounce Close |
Right Trading Ceases |
| OSHAI | ENT | 190,593,374 | 1-FOR-8 | A | 210.0 | 08/04/2020 | 09/04/2020 | 27/04/2020 | — | — |
| OSHAI |
| Comments: |
| ACCELERATED NON-RENOUNCEABLE ISSUE OF ORDINARY SHARES AT A PRICE OF 210C PER SHARE. UNDERWRITERS: GOLDMAN SACHS AUSTRALIA PTY LTD AND MACQUARIE CAPITAL (AUSTRALIA) LIMITED. ACCELERATED NON-RENOUNCEABLE ENTITLEMENT OFFER (JUMBO) OF ORDINARY SHARES TO RETAIL SHAREHOLDERS AT A PRICE OF $2.10 PER SHARE. |
Company Reconstructions
| EARNINGS SURPRISE | Last Analyst Update |
| Does the company have a history of surprising the market? | 28-09-2020 |
| FORECAST EARNINGS TREND | |
| Have the analysts been upgrading or downgrading their forecasts over the last 3 months? |
Analyst Forecasts
| Reconstruction | Details | Meeting Date |
Effective Date |
| There have been no company reconstructions offers for this company since 1 July 1999. To view a list of corporate actions by data set….click here |
Key Data
| Previous Close | $2.79 |
| Previous Close Date | 29/09/2020 |
| Dividend Yield | 4.93% |
| PE | 10.11 |
| Market Cap. ($m) | 5,797.20 |
| Mkt Cap/Rep. NPAT | 13.0 |
| Mkt Cap/Revenue | 2.61 |
| Price/Book Value | 0.77 |
| Beta | |
| Company | Industry |
| 1.21 | 1.32 |
| Total Shareholder Return (avg annual rate) |
|||
| 1yr | 3yr | 5yr | 10yr |
| -59.77% | -24.10% | -15.33% | -5.90% |
| Earnings and Dividends Forecast (cents per share) |
||||
| Current | 30/12/2020 | 30/12/2021 | 30/12/2022 | |
| EPS | 27.6 | 2.6 | 11.2 | 16.9 |
| DPS | 13.2 | 0.4 | 3.4 | 7.0 |
| FORECAST EARNINGS TREND DETAILS |
| 30-12-20 30-12-21 EPS(c) PE Growth EPS(c) PE Growth Median 2.6 105.7 -90.4% 11.2 25.0 322.7% High 6.1 46.0 -78.0% 22.1 12.7 263.3% Low -0.4 — — 2.8 98.6 — 7 Days Ago 2.6 11.1 30 Days Ago 3.5 11.4 60 Days Ago 5.4 10.9 90 Days Ago 4.4 7.5 Number of est. 4 4 |
| CURRENT ANALYST RECOMMENDATIONS |
| What are the analysts recommending? |
| AVERAGE ANALYST RECOMMENDATION HISTORY |
| Company Market Sector Current 1.8 2.2 2.0 Strong Buy = 1 7 Days Ago 1.8 Mod. Buy = 2 30 Days Ago 1.8 Hold = 3 60 Days Ago 1.8 Mod. Sell = 4 90 Days Ago 1.8 Strong Sell = 5 |
| CONTRIBUTING ANALYSTS |
| Ord Minnett|Name Withheld|Morningstar Australasia|Credit Suisse (US) |
Dividend History (Ordinary Dividends)
| Balance Date |
Dividend Type |
Cent Per Share |
Currency | Franked % |
Dividend Ex Date |
Books Close Date |
Pay Date |
Note |
| 30/12/2019 | Final | 6.80 | AUD | 0 | 03/03/2020 | 04/03/2020 | 24/03/2020 | 1 |
| 30/12/2019 | Interim | 7.33 | AUD | 0 | 03/09/2019 | 04/09/2019 | 24/09/2019 | 2 |
| 30/12/2018 | Final | 12.10 | AUD | 0 | 05/03/2019 | 06/03/2019 | 28/03/2019 | 3 |
| 30/12/2018 | Interim | 2.78 | AUD | 0 | 04/09/2018 | 05/09/2018 | 25/09/2018 | 4 |
| 30/12/2017 | Final | 7.06 | AUD | 0 | 06/03/2018 | 07/03/2018 | 29/03/2018 | 5 |
| 30/12/2017 | Interim | 4.96 | AUD | 0 | 05/09/2017 | 06/09/2017 | 26/09/2017 | 6 |
| 30/12/2016 | Final | 3.32 | AUD | 0 | 07/03/2017 | 08/03/2017 | 30/03/2017 | 7 |
| 30/12/2016 | Interim | 1.30 | AUD | 0 | 06/09/2016 | 07/09/2016 | 27/09/2016 | 8 |
| 30/12/2015 | Final | 5.39 | AUD | 0 | 08/03/2016 | 09/03/2016 | 31/03/2016 | 9 |
| 30/12/2015 | Interim | 8.63 | AUD | 0 | 04/09/2015 | 08/09/2015 | 29/09/2015 | |
| 30/12/2014 | Final | 8.00 | USD | 0 | 06/03/2015 | 11/03/2015 | 08/04/2015 | |
| 30/12/2014 | Special Cash | 4.00 | USD | 0 | 06/03/2015 | 11/03/2015 | 08/04/2015 | |
| 30/12/2014 | Interim | 2.00 | USD | 0 | 09/09/2014 | 11/09/2014 | 07/10/2014 | |
| 30/12/2013 | Final | 2.00 | USD | 0 | 06/03/2014 | 13/03/2014 | 08/04/2014 | |
| 30/12/2013 | Interim | 2.00 | USD | 0 | 06/09/2013 | 12/09/2013 | 08/10/2013 | |
| 30/12/2012 | Final | 2.00 | USD | 0 | 07/03/2013 | 14/03/2013 | 09/04/2013 | |
| 30/12/2012 | Interim | 2.00 | USD | 0 | 07/09/2012 | 13/09/2012 | 08/10/2012 | |
| 30/12/2011 | Final | 2.00 | USD | 0 | 08/03/2012 | 15/03/2012 | 10/04/2012 | |
| 30/12/2011 | Interim | 2.00 | USD | 0 | 09/09/2011 | 15/09/2011 | 10/10/2011 | |
| 30/12/2010 | Final | 2.00 | USD | 0 | 09/03/2011 | 16/03/2011 | 08/04/2011 | |
| 30/12/2010 | Interim | 2.00 | USD | 0 | 13/09/2010 | 17/09/2010 | 11/10/2010 | |
| 30/12/2009 | Final | 2.00 | USD | 0 | 11/03/2010 | 17/03/2010 | 09/04/2010 | |
| 30/12/2009 | Interim | 2.00 | USD | 0 | 14/09/2009 | 18/09/2009 | 09/10/2009 | |
| 30/12/2008 | Final | 4.00 | USD | 0 | 09/04/2009 | 17/04/2009 | 07/05/2009 | |
| 30/12/2008 | Interim | 4.00 | USD | 0 | 22/09/2008 | 26/09/2008 | 10/10/2008 | |
| 30/12/2007 | Final | 4.00 | USD | 0 | 03/03/2008 | 07/03/2008 | 20/03/2008 | |
| 30/12/2007 | Interim | 4.00 | USD | 0 | 24/09/2007 | 28/09/2007 | 12/10/2007 | |
| 30/12/2006 | Final | 4.00 | USD | 0 | 05/03/2007 | 09/03/2007 | 22/03/2007 | |
| 30/12/2006 | Interim | 4.00 | USD | 0 | 25/09/2006 | 29/09/2006 | 13/10/2006 | |
| 30/12/2005 | Final | 3.00 | USD | 0 | 06/03/2006 | 10/03/2006 | 23/03/2006 | |
| 30/12/2005 | Special Cash | 2.00 | USD | 0 | 06/03/2006 | 10/03/2006 | 23/03/2006 | |
| 30/12/2005 | Interim | 2.00 | USD | 0 | 12/09/2005 | 16/09/2005 | 30/09/2005 | |
| 30/12/2004 | Final | 3.00 | USD | 0 | 07/03/2005 | 11/03/2005 | 24/03/2005 | |
| 30/12/2004 | Interim | 1.00 | USD | 0 | 27/09/2004 | 01/10/2004 | 08/10/2004 | |
| 30/12/2003 | Final | 1.00 | USD | 0 | 20/04/2004 | 27/04/2004 | 11/05/2004 | |
| 30/12/2003 | Special Cash | 1.00 | USD | 0 | 20/04/2004 | 27/04/2004 | 11/05/2004 | |
| 30/12/2002 | Final | 1.00 | USD | 0 | 05/05/2003 | 09/05/2003 | 13/05/2003 | |
| 30/12/1997 | Final | 0.87 | AUD | — | 31/03/1998 | 08/04/1998 | 22/04/1998 | |
| 30/12/1996 | Final | 0.92 | AUD | — | 01/04/1997 | 09/04/1997 | 23/04/1997 | |
| 30/12/1995 | Final | 0.99 | AUD | — | 01/07/1996 | 09/07/1996 | 26/07/1996 | |
| 30/12/1994 | Final | 1.08 | — | — | 29/06/1995 | 07/07/1995 | 24/07/1995 | |
| 30/12/1993 | Final | 2.97 | — | — | 30/06/1994 | 08/07/1994 | 25/07/1994 | |
| 30/12/1992 | Final | 2.49 | — | — | 20/05/1993 | 28/05/1993 | 02/07/1993 |
| Notes: | |
| 1: | 1 AUD$ = 0.66211000 USD$ |
| 2: | 1 AUD$ = 0.68187000 USD$ |
| 3: | 1 AUD$ = 0.70225 USD$ |
| 4: | 1 AUD$ = 0.71910000 USD$ |
| 5: | 1 AUD$ = 0.7794 USD$ |
| 6: | 1 AUD$ = 0.80620000 USD$ |
| 7: | 1 AUD$ = 0.75330000 USD$ |
| 8: | 1 AUD$ = 0.76826000 USD$ |
| 9: | 1 AUD$ = 0.7426 USD$ |
Shareholder Information Show Data Definitions
Substantial Shareholders
| Substantial Shareholdings as at Last notice | ||||||
| Name | Date of Trade |
Date of Announcement |
Shareholding | Share Held |
Previous Shareholding |
Previous Share |
| % | Held % | |||||
| International Petroleum Investment Company |
12/03/2014 | 18/03/2014 | 196,604,177 | 13.17 | 196,604,177 | 14.60 |
| NPCP Investments Limited | 23/12/2014 | 23/12/2014 | 149,390,244 | 9.81 | — | — |
| Notes: | |
| 1: | Summary information only is displayed. For full details of relevant interests disclosed, refer to PDF announcement lodged. |
| 2: | Latest Annual Report data below supersedes prior substantial shareholder notices. |
Top 20 Shareholders
Top 20 Shareholder List as at 12/02/2020
(Source: 2019 Annual Report)
| Name of Shareholder | Share Holding | % Share Held |
| Argo Investments Limited | 4,857,300 | 0.32 |
| Aust Executor Trustees Ltd <Ipic> | 196,604,177 | 12.89 |
| Australian Foundation Investment Company Limited | 16,482,507 | 1.08 |
| Australian Foundation Investment Company Limited I | 2,702,655 | 0.18 |
| BNP Paribas Nominees Pty Ltd <Agency Lending DRP A/C> | 40,743,827 | 2.67 |
| BNP Paribas Noms Pty Ltd <DRP> | 25,906,777 | 1.70 |
| Citicorp Nominees Pty Limited | 126,355,686 | 8.29 |
| Citicorp Nominees Pty Limited <Colonial First State Inv A/C> | 5,120,299 | 0.34 |
| Djerriwarrh Investments Limited | 2,441,000 | 0.16 |
| HSBC Custody Nominees (Australia) Limited | 492,433,986 | 32.30 |
| HSBC Custody Nominees (Australia) Limited <NT Comnwlth Super Corp A/C> |
7,610,094 | 0.50 |
| Hsbc Custody Nominees (Australia) Limited–Gsco Eca | 4,302,436 | 0.28 |
| J P Morgan Nominees Australia Pty Limited | 352,532,495 | 23.12 |
| Mr David Fox <Thomas John Beresford Wi A/> | 2,272,000 | 0.15 |
| Mr Kwok Ching Chow And Ms Pik Yun Peggy Chan | 2,475,916 | 0.16 |
| National Nominees Limited | 48,340,735 | 3.17 |
| National Superannuation Fund Limited | 6,171,998 | 0.40 |
| Netwealth Investments Limited <Wrap Services A/C> | 1,576,636 | 0.10 |
| Rice Atlantic Company Limited <Worldwide Assets Holding A/C> | 1,865,394 | 0.12 |
| UBS Nominees Pty Ltd | 7,233,973 | 0.47 |
| Total | 1,348,029,891 | 88.40 |
Distribution of Shareholders
| Distribution of Shareholders as at 12/02/2020 (Source: Annual Report) |
|||
| Ordinary Shares | Number of Shareholders |
Number of Shares |
Percent Shares % |
| 1 – 1,000 | 19,213 | 9,194,794 | |
| 1,001 – 5,000 | 17,388 | 42,360,943 | |
| 5,001 – 10,000 | 3,932 | 28,246,433 | |
| 10,001 – 100,000 | 2,473 | 52,902,188 | |
| 100,001 and over | 157 | 1,392,042,627 | |
| Total | 43,163 | 1,524,746,985 | 0.00 |
Controlled Entities
| Controlled Entities as at 30/12/2019 (Source: 2019 Annual Report) |
||||||||||||||||
|
|
Segment Performance
Segments are provided in the currency as per the Annual Report.
| Segment Performance as at 30/12/2019 (Source: 2019 Annual Report) |
|||||||||||||
| Results By Industry/Geography | Revenue $(000) |
Profit $(000) |
Assets $(000) |
Revenue B/Down (%) |
ROS (%) |
ROA (%) |
Notes | ||||||
| Industry | |||||||||||||
| Alaska Business Unit (Alaska BU) | 4,018 | -35,939 | — | 0.2% | -894.5% | — | I1 | ||||||
| PNG Business Unit (PNG BU) | 2,315,298 | 1,044,856 | — | 99.8% | 45.1% | — | I2 | ||||||
| Geography | |||||||||||||
| Australia | 602 | — | 163,999 | 0.0% | 0.0% | 0.0% | G1 | ||||||
| Other | — | — | 204,963 | 0.0% | — | 0.0% | G2 | ||||||
| Papua New Guinea | 2,261,470 | — | 12,213,396 | 100.0% | 0.0% | 0.0% | G3 | ||||||
| United States of America | — | — | 1,426,365 | 0.0% | — | 0.0% | G4 | ||||||
|
Segments are provided in the currency as per the Interim Report.
| Segment Performance as at 30/06/2020 (Source: 2020 Interim Report) |
|||||||
| Results By Industry/Geography | Revenue $(000) |
Profit $(000) |
Assets $(000) |
Revenue B/Down (%) |
ROS (%) |
ROA (%) |
Notes |
| Industry | |||||||
| Exploration | 4,584 | -64,275 | — | 0.5% | -1,402.2% | — | I1 |
| Other | 12,052 | -29,471 | — | 1.3% | -244.5% | — | I2 |
| PNG Business Unit | 931,517 | -239,991 | — | 98.2% | -25.8% | — | I3 |
| Geography | |||||||||||||||
| Australia | 267 | — | 174,131 | 0.0% | 0.0% | 0.0% | G1 | ||||||||
| Other | — | — | 216,231 | 0.0% | — | 0.0% | G2 | ||||||||
| Papua New Guinea | 911,272 | — | 11,968,251 | 100.0% | 0.0% | 0.0% | G3 | ||||||||
| United States of America | — | — | 1,723,809 | 0.0% | — | 0.0% | G4 | ||||||||
|
Loading Financial Data…
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