A number of reasons why Oil search hasn't recovered, a lot of Santos activities paid off, Gladstone LNG improved for example, Santos removed a lot of staff but kept the core, Santos got rid of other assets around the world to focus on Australia and Asia. Oil Search were saddled with a large PNGLNG loan and previous management's capital management was sub par at best. If the Oil search board didn't approve this merger, very likely at the next AGM they would have been thrown out.
OSH Price at posting:
$3.81 Sentiment: Sell Disclosure: Held
