OSH debt?, page-7

AUD fallen - that is a good thing ultimately.

OSH gets all it's receipts for Oil and Gas in USD. Most contract for equipment and expenses in PNG are in USD. Many staff paid in AUD - not sure if that is still the case. We get dividends in USD converted to AUD so a Aussie dollar lower gives us more. It may look odd on the accounts but the reality is we have a natural hedge.

Forget the aussie dollar until we are spinning off even more cash

Oil up 10% finally last night so that paints a better picture going forward that the squeeze is softening and common sense around the world ( better known as cartel) is getting back to normal.

Was good to see mix of contracted gas and other loads in the recent report so still getting some spot pricing and ready market for extra gas close by.

So low interest rates, good access to debt, more margin on oil and gas ( to pay own debt faster) and low aussie for eventual return in divvies OK IMO . By the time the debt gets paid dowm rates etc will have changed but we have the ability to stay ahead of competition IMO.


OSH out hunting for more oil and gas in the gulf so good to see them trying some greenfields sites and they can wait and see if they can buy up any other cheap projects while also gaining economy of scale and efficiency on existing fields , port and plant.

Always the elephant in the room is PNG stability and politics which has been unusually quiet for a while.