POMSoX Update

LOCAL STOCKS
The local share market had a calm day on Wednesday, with most of the stocks seeing less or no trades. BSP maintained its stance at K1.00 with average volume changing hands. IOL closed lower at US$17.34 in the AMEX, while NBO advanced 0.02 percent to end at STG2.20.

OSH this morning opened at A$4.34 while on the local market, the pre-open phase has bids for HIG at K0.14 while the offers are as low as K0.20.

PNG NEWS
LGL: the GM for Corporate affairs Joe Dowling provided an update on the interruption of mine operations in Lihir that LGL and the peak land owners are into talks to resolve the matter.

OSH: Oil Search limited released its 4th Quarter results highlighting that oil and gas production for the quarter was 2 percent up likewise the full year earnings for 2008 closed stronger by 13 percent from 2007 to US$811.6 million, driven by strong oil prices even though a sharp decline in the fourth quarter.

MOVERS
Nil movers on the bourse yesterday.