LOCAL STOCKS
Yesterday saw the PNGKSi finished 3.62 percent weaker to 5026.72 points; with BSP and LGL closing down at K0.80 and K6.00 respectively. IOC in NYSE gained 6 percent to end at US$28.06 reaching a high of US$28.12 while NBPO in LSE finished weaker at GBP2.86 with reasonable volume changing hands.
The pre-open phase of the market today has offers for CCP at a low of K2.29 while bidding for OSH are as high as K9.35.
PNG NEWS
In the corporate front (HIG) Highlands pacific posted a full year profit for 2008 of US$12.3 million ($A17.5 million), despite having no operating mines; the result was due to the impairment on the Frieda River Project.
MOVERS
Yesterday’s movers on the local bourse 31/03/09:
BSP: -3.61%
LGL: -14.28%
Tuesday, March 31, 2009
Monday, March 30, 2009
POMSoX UPDATE
LOCAL STOCKS
The local market on Friday closed relatively active with the KSi closing the week 780 points higher to 5313.20, with a reasonable volume traded at K0.83 for BSP. LGL leaped 31 percent to close at K7.00 and OSH closed at K11.55, as others remained unchanged. IOC in US ended weaker at US$26.32 while NBPO finished at GBP2.92.
The market today may open lower with Bids for BSP at K0.80 and LGL buyers lined up at K5.67.
PNG NEWS
CCP: Credit Corporation reported a drop in the net earnings to K144 million, signifying a 23 percent decline.
MOVERS
Friday’s movers on the local bourse 27/03/09:
LGL: 30.59%
OSH: 25.54%
The local market on Friday closed relatively active with the KSi closing the week 780 points higher to 5313.20, with a reasonable volume traded at K0.83 for BSP. LGL leaped 31 percent to close at K7.00 and OSH closed at K11.55, as others remained unchanged. IOC in US ended weaker at US$26.32 while NBPO finished at GBP2.92.
The market today may open lower with Bids for BSP at K0.80 and LGL buyers lined up at K5.67.
PNG NEWS
CCP: Credit Corporation reported a drop in the net earnings to K144 million, signifying a 23 percent decline.
MOVERS
Friday’s movers on the local bourse 27/03/09:
LGL: 30.59%
OSH: 25.54%
Friday, March 27, 2009
POMSoX UPDATE
LOCAL STOCKS
Nothing much happened on the markets yesterday with KSi finishing unchanged at 4532.93; BSP saw light volumes changing hands at K0.83 while the offers for LGL and OSH were at a low K6.75 and K11.55 respectively. IOC continued its climb gaining another percent to end at US$26.98 as NBPO on the LSE edged over the GBP2.90 mark.
Today should see the market open lower with bids for BSP at K0.80 and NBO buyers lined up at K10.01.
PNG NEWS
Most of the major indices on the global front ended in the positive territory, based on more positive news i.e. better than expected results.
MOVERS
There were no movers on the local bourse yesterday 26/03/09:
Nothing much happened on the markets yesterday with KSi finishing unchanged at 4532.93; BSP saw light volumes changing hands at K0.83 while the offers for LGL and OSH were at a low K6.75 and K11.55 respectively. IOC continued its climb gaining another percent to end at US$26.98 as NBPO on the LSE edged over the GBP2.90 mark.
Today should see the market open lower with bids for BSP at K0.80 and NBO buyers lined up at K10.01.
PNG NEWS
Most of the major indices on the global front ended in the positive territory, based on more positive news i.e. better than expected results.
MOVERS
There were no movers on the local bourse yesterday 26/03/09:
Thursday, March 26, 2009
POMSoX UPDATE
LOCAL STOCKS
On Wednesday, saw the market finish relatively active with modest volumes changing hands. BSP closed stronger at K0.80 after opening at K0.80; CCP lost 4 percent to end at K2.34 while CPL and HIG concluded the day steady at K2.50 and K0.14 respectively. In London, NBPO had trades at GBP2.75 while IOC advanced by 3.04 percent to close at US$26.80 reaching a high of US$27.35.
The pre open phase of the market today has bids for BSP at K0.80 and CCP as low as K2.34.
PNG NEWS
COY: CopperMoly Limited yesterday released a presentation by the Company’s Managing Director to investors.
HIG: Highlands pacific Limited announced its Annual meeting which be held on the 21st May 2009 at the Crowne Plaza hotel in Port Moresby.
MOVERS
Yesterday’s movers on the market 25/03/09;
BSP: 3.75%
CCP: -1.68%
OSH: -4.16%
On Wednesday, saw the market finish relatively active with modest volumes changing hands. BSP closed stronger at K0.80 after opening at K0.80; CCP lost 4 percent to end at K2.34 while CPL and HIG concluded the day steady at K2.50 and K0.14 respectively. In London, NBPO had trades at GBP2.75 while IOC advanced by 3.04 percent to close at US$26.80 reaching a high of US$27.35.
The pre open phase of the market today has bids for BSP at K0.80 and CCP as low as K2.34.
PNG NEWS
COY: CopperMoly Limited yesterday released a presentation by the Company’s Managing Director to investors.
HIG: Highlands pacific Limited announced its Annual meeting which be held on the 21st May 2009 at the Crowne Plaza hotel in Port Moresby.
MOVERS
Yesterday’s movers on the market 25/03/09;
BSP: 3.75%
CCP: -1.68%
OSH: -4.16%
Tuesday, March 24, 2009
IOC News Release
InterOil Corporation today announced that it has received approval to list its common shares on the New York Stock Exchange (NYSE). The common shares will begin trading on the NYSE effective at the beginning of trading on March 31, 2009. The Company's common shares will continue to trade under the current ticker symbol, "IOC".
POMSoX UPDATE
LOCAL STOCKS
Yesterday on the local bourse saw CGA fell 3 percent to K0.84 while NBO gained nearly 1 percent to end at K10.01. BSP witnessed a reasonable volume changing hands likewise did OSH ending the day at K9.00. In overseas, IOC soared 5 percent to finish at US$25.34 and NBPO also closed stronger at GBP2.77.
Today the market is expected to open stronger with more positive news being released from the trading companies. OSH has offers as low as K9.50 and LGL opening the day with buyers lined up at K5.51
PNG NEWS
CGA: Airlines of PNG reported yesterday that it registered a 13 percent increase in its operating revenue of K143.94 million.
MOVERS
Tuesday’s movers on the local market 23/03/09:
BSP: -2.43%
CGA: -3.44%
CPL: 0.40%
NBO: 0.90%
Yesterday on the local bourse saw CGA fell 3 percent to K0.84 while NBO gained nearly 1 percent to end at K10.01. BSP witnessed a reasonable volume changing hands likewise did OSH ending the day at K9.00. In overseas, IOC soared 5 percent to finish at US$25.34 and NBPO also closed stronger at GBP2.77.
Today the market is expected to open stronger with more positive news being released from the trading companies. OSH has offers as low as K9.50 and LGL opening the day with buyers lined up at K5.51
PNG NEWS
CGA: Airlines of PNG reported yesterday that it registered a 13 percent increase in its operating revenue of K143.94 million.
MOVERS
Tuesday’s movers on the local market 23/03/09:
BSP: -2.43%
CGA: -3.44%
CPL: 0.40%
NBO: 0.90%
Monday, March 23, 2009
Commodities
Resources companies like BHP (+2.9%) and RIO (+2.5%) had a strong day with reasonable gains last Friday. Gold and copper closed weaker 0.80 and 1.11 percent respectively. Gold fell on the back of USD rebounding against Euro, while Copper slid from a four month high on renewed concerns that the recession will limit the demand for the metal used in wires and pipes. While on the upside was Oil edging over the US$50 mark ending at USD52.07.
Tuesday, March 17, 2009
IOC Retains its Financial advisors
Inter Oil announced that it has retained BNP Paribas Capital (Singapore) Ltd (BNP) and ABN AMRO Corporate Finance Australia Ltd (ABN AMRO) as joint financial advisors for the sale of interests in the Elk/Antelope field, the Liquid Niugini Gas Ltd LNG Project and associated liquid natural gas off-take agreements with potential strategic partners.
After preliminary discussions with major oil companies, national oil companies and
international natural gas utilities, InterOil and its advisors will determine the most suitable industry farm-in partner to acquire up to a 25% interest in its LNG assets. No assurances can be provided that this process will result in any sale of interests in the Elk/Antelope field or the associated proposed LNG project.
After preliminary discussions with major oil companies, national oil companies and
international natural gas utilities, InterOil and its advisors will determine the most suitable industry farm-in partner to acquire up to a 25% interest in its LNG assets. No assurances can be provided that this process will result in any sale of interests in the Elk/Antelope field or the associated proposed LNG project.
Monday, March 16, 2009
POMSoX UPDATE
LOCAL STOCKS
On Friday, the local bourse closed quiet with small volumes changing hands. BSP closed down 1 percent to K0.83, with CGA ending at K0.87. While IOC finished stronger at US$21.01 with a high of US$21.20 in US; and in LSE NBPO concluded the week at GBP2.75.
The market is expected to continue in its current trend with BSP offers at a low K0.83 while the bids for NBO at K9.93.
PNG NEWS
BSP: Bank South pacific last Friday released to the market reporting its operating profit of K328mn with a 16 percent increase in its net earnings.
MOVERS
Movers on the local bourse last Friday 13/03/09:
BSP: -1.19%
CGA: -4.39%
On Friday, the local bourse closed quiet with small volumes changing hands. BSP closed down 1 percent to K0.83, with CGA ending at K0.87. While IOC finished stronger at US$21.01 with a high of US$21.20 in US; and in LSE NBPO concluded the week at GBP2.75.
The market is expected to continue in its current trend with BSP offers at a low K0.83 while the bids for NBO at K9.93.
PNG NEWS
BSP: Bank South pacific last Friday released to the market reporting its operating profit of K328mn with a 16 percent increase in its net earnings.
MOVERS
Movers on the local bourse last Friday 13/03/09:
BSP: -1.19%
CGA: -4.39%
Friday, March 13, 2009
BSP Full Year Results ending 31st Dec 2008
Bank South pacific limited today released its full year results highlighting a consolidated operating profit before tax of K328.80 million has been achieved for the year 2008. This is a 16 percent increase on the consolidated operating profit before tax of K283.57 million achieved for last year. After tax Profit is K228 million compared to K191.07 million. Total assets also grew 17 percent from K5.82 billion to K6.81 billion.
If you wish to get a copy of the announcement, please send your request to gminia.bspcapital@bsp.com.pg
If you wish to get a copy of the announcement, please send your request to gminia.bspcapital@bsp.com.pg
Thursday, March 12, 2009
POMSoX UPDATE
LOCAL STOCKS
The bourse closed unchanged with modest volumes changing hands. BSP lost another percent during the day ending at K0.87, while KAM and NBO concluded the day at K1.15 and K9.92 respectively. Overseas, last night saw IOC climbed 2 percent to US$20.20 as LGL on the ASX fell 19 cents yesterday.
The pre open phase of the market today has bids for BSP at K0.85 while offers for CCP are at K2.37.
PNG NEWS
Most of the commodities fell last night while Gold came out shinning rebounding from its lowest in a month finishing US$907.25, due to the falling dollar.
MOVERS
Wednesdays’ movers on the local bourse 11/03/09:
BSP: -1.13%
NBO: -0.10%
OSH: 0.48%
The bourse closed unchanged with modest volumes changing hands. BSP lost another percent during the day ending at K0.87, while KAM and NBO concluded the day at K1.15 and K9.92 respectively. Overseas, last night saw IOC climbed 2 percent to US$20.20 as LGL on the ASX fell 19 cents yesterday.
The pre open phase of the market today has bids for BSP at K0.85 while offers for CCP are at K2.37.
PNG NEWS
Most of the commodities fell last night while Gold came out shinning rebounding from its lowest in a month finishing US$907.25, due to the falling dollar.
MOVERS
Wednesdays’ movers on the local bourse 11/03/09:
BSP: -1.13%
NBO: -0.10%
OSH: 0.48%
Wednesday, March 11, 2009
POMSoX UPDATE
LOCAL STOCKS
Yesterday saw the local market finished quiet with light volumes crossing. BSP fell 2 percent to K0.88 and on the upside, NBO gained 23 toeas to close at K9.93. While the offers for OSH ended at K10.00. Last night in London had NBPO climbing 6pence to finish at GBP2.55. In markets overseas, most of global stock indices finished up, with the DJIA advancing 6 percent.
This morning on the local market has offers for CPL as low as K2.49 likewise CCP shares are at a low K2.33;
PNG NEWS
CPL: City pharmacy Limited and Subsidiary Group reported its end of year results highlighting a 32 percent increase in their net earnings of K6.2million.
NBO: New Britain Palm Oil also reported a final dividend of 14 US cents which will be paid on the 29th of May 2009; the ex-div date is at 13th May and the record date is 15th May 2009.
MOVERS
Tuesday’s movers on the bourse 10/03/09:
BSP: -2.22%
NBO: 2.37%
Yesterday saw the local market finished quiet with light volumes crossing. BSP fell 2 percent to K0.88 and on the upside, NBO gained 23 toeas to close at K9.93. While the offers for OSH ended at K10.00. Last night in London had NBPO climbing 6pence to finish at GBP2.55. In markets overseas, most of global stock indices finished up, with the DJIA advancing 6 percent.
This morning on the local market has offers for CPL as low as K2.49 likewise CCP shares are at a low K2.33;
PNG NEWS
CPL: City pharmacy Limited and Subsidiary Group reported its end of year results highlighting a 32 percent increase in their net earnings of K6.2million.
NBO: New Britain Palm Oil also reported a final dividend of 14 US cents which will be paid on the 29th of May 2009; the ex-div date is at 13th May and the record date is 15th May 2009.
MOVERS
Tuesday’s movers on the bourse 10/03/09:
BSP: -2.22%
NBO: 2.37%
Tuesday, March 10, 2009
CPL preliminary final report for the period ending 31st December 2008.
City Pharmacy Limited and Subsidiary Companies released their preliminary final report yesterday highlighting a consolidated net profit after tax of K6, 731, 292 this includes the proceeds from the sale of Kiunga business, that’s an increase of 32.31 percent from previous year. Their revenue also increased nearly 11 percent from 2007.
Send your request for a PDF copy of the announcement to clee@bsp.com.pg
Send your request for a PDF copy of the announcement to clee@bsp.com.pg
IOC to present at the Raymond James 30th Institutional Investor Conference.
Inter Oil’s CEO Phil Mulacek, will give a presentation at Raymond James 30th Institutional Investor Conference summarizing its operations in PNG and the Pacific region, and the projects its currently undertaking in PNG.
Send your request for a PDF copy of the announcement to clee@bsp.com.pg
Send your request for a PDF copy of the announcement to clee@bsp.com.pg
POMSoX UPDATE
LOCAL STOCKS
The local bourse on Monday closed on a relatively calm note, with a few trades going through for BSP closing at K0.90; NBO also lost 2 percent at K9.70 reaching a high of K9.92 during intraday. LGL ended with bids as high as K5.20. And IOC last night finished flat at US$19.80 with reasonable volumes changing hands.
The opening bids for BSP today are at K0.85 while KAM shares are selling at K1.16.
MOVERS
Movers on the local bourse yesterday 9/03/09:
BSP: -1.09%
NBO: -2.02%
NGE: -64.70%
OSH: 0.60%
The local bourse on Monday closed on a relatively calm note, with a few trades going through for BSP closing at K0.90; NBO also lost 2 percent at K9.70 reaching a high of K9.92 during intraday. LGL ended with bids as high as K5.20. And IOC last night finished flat at US$19.80 with reasonable volumes changing hands.
The opening bids for BSP today are at K0.85 while KAM shares are selling at K1.16.
MOVERS
Movers on the local bourse yesterday 9/03/09:
BSP: -1.09%
NBO: -2.02%
NGE: -64.70%
OSH: 0.60%
Thursday, March 5, 2009
Lihir completes US$325m Institutoinal Placement
Lihir Gold (LGL) has successfully completed an institutional placement of new fully paid ordinary shares to raise approximately US$325million. The placement attracted strong interest from both domestic and international institutions and the deal was priced at a 9.4 percent discount to LGL’s closing price of A$3.31. The settlement is expected to occur on 11th March 2009 with the placement shares be allotted and quoted on the ASX on 12 March 2009.
Source: Lihir Website
Source: Lihir Website
POMSoX UPDATE
LOCAL STOCKS
Yesterday, saw the market close quiet with light volumes being traded. BSP continued its downward trend to close at K0.93; NBPO in London ended higher at GBP2.51 while IOC in AMEX finished at US$23.98 with reasonable volumes.
Today will see the market open slightly lower, with uncertainty still prevalent on the markets. NBO bids are lined up at K9.90 and OSH selling at a low K10.00.
PNG NEWS
LGL: Lihir Gold limited intends to raise US$325m through a share placement to fund expansion of its Lihir Mines and also fund growth opportunities in Western Africa.
MOVERS
Wednesday’s movers on the local bourse 04/03/09:
BSP: -1.06%
NBO: 0.71%
Yesterday, saw the market close quiet with light volumes being traded. BSP continued its downward trend to close at K0.93; NBPO in London ended higher at GBP2.51 while IOC in AMEX finished at US$23.98 with reasonable volumes.
Today will see the market open slightly lower, with uncertainty still prevalent on the markets. NBO bids are lined up at K9.90 and OSH selling at a low K10.00.
PNG NEWS
LGL: Lihir Gold limited intends to raise US$325m through a share placement to fund expansion of its Lihir Mines and also fund growth opportunities in Western Africa.
MOVERS
Wednesday’s movers on the local bourse 04/03/09:
BSP: -1.06%
NBO: 0.71%
POMSoX UPDATE
LOCAL STOCKS
Yesterday, saw the market close quiet with light volumes being traded. BSP continued its downward trend to close at K0.93; NBPO in London ended higher at GBP2.51 while IOC in AMEX finished at US$23.98 with reasonable volumes.
Today will see the market open slightly lower, with uncertainty still prevalent on the markets. NBO bids are lined up at K9.90 and OSH selling at a low K10.00.
PNG NEWS
LGL: Lihir Gold limited intends to raise US$325m through a share placement to fund expansion of its Lihir Mines and also fund growth opportunities in Western Africa.
MOVERS
Wednesday’s movers on the local bourse 04/03/09:
BSP: -1.06%
NBO: 0.71%
Yesterday, saw the market close quiet with light volumes being traded. BSP continued its downward trend to close at K0.93; NBPO in London ended higher at GBP2.51 while IOC in AMEX finished at US$23.98 with reasonable volumes.
Today will see the market open slightly lower, with uncertainty still prevalent on the markets. NBO bids are lined up at K9.90 and OSH selling at a low K10.00.
PNG NEWS
LGL: Lihir Gold limited intends to raise US$325m through a share placement to fund expansion of its Lihir Mines and also fund growth opportunities in Western Africa.
MOVERS
Wednesday’s movers on the local bourse 04/03/09:
BSP: -1.06%
NBO: 0.71%
Wednesday, March 4, 2009
InterOil News Release
Source: Interoil website
INTEROIL ANTELOPE-1 WELL FLOWS AT RECORD GAS RATE OF 382 MMCFD WITH 5,000 BBLS PER DAY OF CONDENSATE
March 2, 2009 -- InterOil Corporation (IOC:NYSE Alternext US) (IOC:POMSoX) today announced that its Antelope-1 well flowed at 382 million cubic feet of natural gas per day (MMcfd) with 5,000 barrels of condensate per day (BCPD) for a total 68,700 barrels of oil equivalent per day (BOEPD), setting a new record rate for the country of Papua New Guinea. The flow test recorded a maximum calculated rate at 545 MMcfd for a dry gas reading through a 6 inch capacity choke that was only opened to 3 ½ inches or about 30% of capacity. Conservatively adjusting the dry gas flow rate of 545 MMcfd to compensate for 13 Bbls of condensate per MMcf results in the 382 MMcf
effective gas flow rate reported above.
As far as we are aware, the world record breaking gas flow rate from a vertical well confirms other records recently established by the well, such as the largest vertical hydrocarbon column height in a single onshore carbonate reef structure and the largest calculated absolute open flow (CAOF) at 17.7 Billion cubic feet of atural gas per day. The well results establish the country of Papua New Guinea as a world class gas resource base in close proximity to the largest and most well developed LNG market in the world.
InterOil believes the Antelope-1 well clearly confirms the gas resource potential sufficient to proceed with plans to build a liquefied natural gas (LNG) plant on company land next to the InterOil refinery. Antelope-1 and previous wells, have onfirmed over 120% of full capacity, estimated at 500 MMcfd, for the first proposed LNG train. Third party resource estimates are underway and will be released when completed in the next few weeks. Recent settlement agreement with Merrill Lynch niquely positions InterOil to enter direct negotiations with industry partners on an ownership stake in the Elk/Antelope structure, an ownership stake in the proposed LNG plant and long-term LNG offtake contracts.
INTEROIL ANTELOPE-1 WELL FLOWS AT RECORD GAS RATE OF 382 MMCFD WITH 5,000 BBLS PER DAY OF CONDENSATE
March 2, 2009 -- InterOil Corporation (IOC:NYSE Alternext US) (IOC:POMSoX) today announced that its Antelope-1 well flowed at 382 million cubic feet of natural gas per day (MMcfd) with 5,000 barrels of condensate per day (BCPD) for a total 68,700 barrels of oil equivalent per day (BOEPD), setting a new record rate for the country of Papua New Guinea. The flow test recorded a maximum calculated rate at 545 MMcfd for a dry gas reading through a 6 inch capacity choke that was only opened to 3 ½ inches or about 30% of capacity. Conservatively adjusting the dry gas flow rate of 545 MMcfd to compensate for 13 Bbls of condensate per MMcf results in the 382 MMcf
effective gas flow rate reported above.
As far as we are aware, the world record breaking gas flow rate from a vertical well confirms other records recently established by the well, such as the largest vertical hydrocarbon column height in a single onshore carbonate reef structure and the largest calculated absolute open flow (CAOF) at 17.7 Billion cubic feet of atural gas per day. The well results establish the country of Papua New Guinea as a world class gas resource base in close proximity to the largest and most well developed LNG market in the world.
InterOil believes the Antelope-1 well clearly confirms the gas resource potential sufficient to proceed with plans to build a liquefied natural gas (LNG) plant on company land next to the InterOil refinery. Antelope-1 and previous wells, have onfirmed over 120% of full capacity, estimated at 500 MMcfd, for the first proposed LNG train. Third party resource estimates are underway and will be released when completed in the next few weeks. Recent settlement agreement with Merrill Lynch niquely positions InterOil to enter direct negotiations with industry partners on an ownership stake in the Elk/Antelope structure, an ownership stake in the proposed LNG plant and long-term LNG offtake contracts.
Tuesday, March 3, 2009
POMSoX UPDATE
LOCAL STOCKS
The local market closed on a calm note yesterday, with CCP seeing reasonable volumes being traded at K2.35, as MSC finished 6 toeas. Last night on the AMEX saw IOC climbed 13 percent to conclude the day at US$22.50 while NBPO in London registered trades at GBP2.43.
In the pre-open phase of the market today has offers for BSP as low as K0.96 and bids for NBO are as high as K9.83, trading activity should slowly pick up as the day develops.
PNG NEWS
IOC: InterOil Corporation today reported on their gas discovery in the Antelope structure that the gas flow in PNG is a “world record natural gas discovery” and should place PNG as a co-leader with Australia in supplying Asian markets.
MOVERS
Yesterday’s movers on the local bourse 02/03/09:
BSP: 1.05%
The local market closed on a calm note yesterday, with CCP seeing reasonable volumes being traded at K2.35, as MSC finished 6 toeas. Last night on the AMEX saw IOC climbed 13 percent to conclude the day at US$22.50 while NBPO in London registered trades at GBP2.43.
In the pre-open phase of the market today has offers for BSP as low as K0.96 and bids for NBO are as high as K9.83, trading activity should slowly pick up as the day develops.
PNG NEWS
IOC: InterOil Corporation today reported on their gas discovery in the Antelope structure that the gas flow in PNG is a “world record natural gas discovery” and should place PNG as a co-leader with Australia in supplying Asian markets.
MOVERS
Yesterday’s movers on the local bourse 02/03/09:
BSP: 1.05%
Monday, March 2, 2009
POMSoX UPDATE
LOCAL STOCKS
Last week Friday, saw the market closed relatively calm with only light volumes changing hands for the trading companies. CGA ended with a reasonable selling pressure resulting in CGA loosing 7 percent. NBPO in London finished at GBP2.49 while IOC advanced 6 percent on the back of positive results released from the company.
The local bourse is expected to open lower today with bids for BSP lined up at K0.95 and offers for OSH as low as K10.00.
PNG NEWS
IOC: InterOil Corporation a Canadian company with PNG interest in the Elk structure will flow its Antelope 1 well in Gulf Province in front of a senior PNG Government delegation including Prime Minister Grand Chief Sir Michael Somare today.
MOVERS
Friday’s movers on the local bourse 27/02/09;
BSP: -1.02%
CGA: -7.14%
OSH: 5.45%
Last week Friday, saw the market closed relatively calm with only light volumes changing hands for the trading companies. CGA ended with a reasonable selling pressure resulting in CGA loosing 7 percent. NBPO in London finished at GBP2.49 while IOC advanced 6 percent on the back of positive results released from the company.
The local bourse is expected to open lower today with bids for BSP lined up at K0.95 and offers for OSH as low as K10.00.
PNG NEWS
IOC: InterOil Corporation a Canadian company with PNG interest in the Elk structure will flow its Antelope 1 well in Gulf Province in front of a senior PNG Government delegation including Prime Minister Grand Chief Sir Michael Somare today.
MOVERS
Friday’s movers on the local bourse 27/02/09;
BSP: -1.02%
CGA: -7.14%
OSH: 5.45%
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