POMSoX UPDATE

LOCAL STOCKS

Friday saw the market close higher rebounding from a weaker finish on Thursday gaining 3.64 percent to 5,347.50; BSP still maintained its level at K0.80 on light volumes. While LGL and OSH closed 5.93 and 12.00 percent respectively.

The market this morning should open stronger after the KSi ended in positive territory last Friday; the pre-open phase of the market has offers for CCP at K1.88 and on the currency front kina is buying 0.4534 and selling at 0.4104 Aussie.

PNG NEWS
CUE: Cue Energy Resources released to the market an announcement that Mr E.G. Albers has elected to resign as a director of Cue effective 5pm 4 September 2009. Geoff Albers founded Cue Energy Resources in 1981 and except for one year, has been a director of the company ever since, including being Chairman of the company for 19 years.

CUE: Weekly Drilling Report on Manaia-1 Appraisal Well was also released by Cue Energy Resources Limited.

MOVERS
Last Friday’s movers on the local bourse 28/08/09;
BSP: 1.25%
CGA: 4.61%
LGL: 5.93%
NAG: -5.12%
NBO: 2.34%
OSH: 12.00%