OIL Search managing director Peter Botten says Papua New Guinea offers the oil and gas company opportunities for acquisitions.
Speaking during the company’s 2015 half year presentation on Tuesday, Botten said the company had the ability to acquire assets with more focus in the country, however it would only be dependent on the pricing.
“We certainly in this market are very disciplined about where we spend our money,” Botten said.
“We do have an ability to look at acquisitions and if those acquisitions would fit our core strategic goals.
“We remain interested but our interest is on the right pricing.
“Clearly our assets in PNG are where we would like to look at optimizing.
“We have applied for a number of exploration licences for the last 12 to 18 months and we think there is a lot of running room, especially in oil and gas in PNG.
“Our future lies there and that’s where we will be looking.”
Total is sending I think it is 70 families to the PNG. FAMILIES. That is a mammoth undertaking and a huge commitment. It may mean nothing. When you are looking for eventual outcomes you need to look at actions that perhaps can predict those outcomes. This move plus other more obvious ones, tells me that Total is all in.
There are many reasons to sell but only one reason to buy. I have had this stock for 18+ years and seen this cycle so many times. My challenge is when the stock trades like this, do I sell a few thousand shares or buy a few thousand shares. The position of the company is as good as it has ever been, This is a traders stock or you hold on for the long haul which has a very bright future.