POMSoX UPDATE

LOCAL STOCKS

The market was steady again with BSP registering reasonable volumes at K0.65, while CCP advanced 1.31 percent to close at K1.54; NBO finished unchanged at K19.00 whereas in LSE it ended on the upside gaining 0.50 percent to GBP4.92.

This morning has bids for BSP at a high K0.66, while NBO shares available at K19.00. The markets are expected be steady with mixed leads from overseas last night. Kina this morning is buying 0.4478 and selling 0.4011 aussie.

PNG NEWS

MOS: AGL Energy Ltd is seeking to buy out oil and gas explorer Mosaic Oil NL as part of a strategy to gain
control of the target's gas storage plant in central Queensland. The non-binding offer for Mosaic was for 15 cents per Mosaic share or 1.01 AGL shares per 100 Mosaic shares.

NGP: The Board of Directors of diversified PNG agri-business New Guinea Islands Produce Company Ltd (NGIP) announces the resignation Mr. Jack Diuvia and Mr. Garth McIlwain CBE as directors of the company and also accepted the resignation of the company’s Chief Executive Officer Geoff. Whebell, Chairman Don Manoa.

MOVERS
Wednesday’s movers on the local stock market 02/07/10;
CCP: 1.31%