PNG elections in June 2017, the federal govt is essentially broke and being propped up by the PNG LNG project. This tells me that players like Exxon and Oil Search are in a good position to call the shots when it comes to agreements for the new mine being started soon. Oil prices seem somewhat stable and moving upwards. Australia wants more gas and PNG is just next door.
I'm predicting a wild move by the existing PM to promise more revenue from LNG, not by strong-arming them but by allowing irresponsible expansion. He is currently borrowing hundreds of millions from whoever will lend it to him simply to pay public servant wages.
I'm starting to watch this one.
OSH Price at posting:
$7.47 Sentiment: Buy Disclosure: Not Held
