News: OSH Oil Search says FY net profit $89.8 million

Feb 21 (Reuters) - Oil Search Ltd (OSH) :

• FY net profit $89.8 million versus loss of $39.4 million a year ago
• FY total revenue $1,235.9 million versus $1,585.7 million a year ago
• Total dividend (US cents) 3.5 per share
• "Dividend reinvestment plan remains suspended"
• Dividend policy remains unchanged
• Expect spot LNG prices to soften from current levels through 2017, long term LNG market fundamentals remain strong
• "Estimates if next phase of lng expansion takes place in a coordinated manner, potential downstream capital cost savings are in order of US$2-3 billion"
• "While we expect spot lng prices to soften from current levels through 2017, long term lng market fundamentals remain strong"
• "Oil Search is in a good position to continue to generate strong cash flows from operations"