RE:RE:RE:RE:RE:Oil Search has solid quarter
AVALONSHARK wrote: It doesnt need to wait till Q4 2021 for their operations to restart. That announcement can come anyday now. Total's Papua LNG is also supposed to be announced in the coming months.
While we might argue about how soon or late can there be updates, one thing we should agree is that the valuation is insanely cheap.
Market Cap of $ 51 mil with $33 mil in cash, 14 mil in receivables, 160 mil in fixed assets, 10 mil of debt !!.
Even if it takes a few months for things to restart, announcements to happen, current LNG and Crude prices would make sure more drills get drilled, equipment and services being used in 2021 than 2020.
I have a large position and will keep buying. GLTA
You're just wrong about the drilling man. Oil search literally just said in their 2021 guidance that they're not drilling any wells in PNG in 2021. If you take a look at High arctics november presentation, this is their main customer for drilling.