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%