STO were opportunists and silly to offer stock to try and stick knife in. The offer was so child liek and to consider it had been 6 months in development defies belief with so little detail and updated data. With OSH internal ructions happening, PNG politics, world oil politics, Alaska oil politics and green politics - all affecting OSH pricing - nice try by STO and known to be smart wiley corporate operator. Most dissappointing poart is that 6 montsh ago OSH didin't formally tell them to piss off but maybe Keiran was smart by string them along as that way they didn't formally go public.
Better news is that change / trunaround in OSH is not a defence strategy but just ongoing business with partners and they are all long term strategy to get most out of oil / gas assetts . I suspect more effeciencies to come not yest announces and OSH alwasy conservative with numbers.
Downside - don't know new CEO - or the to new to be appoointed one but hopefully follows same understated methods .
Frankly with Major operators / partners of OSH assetts probably having last right of refusal triggered upon any change of control offer and the fact that none partnered with Santos as written in STO deal ( yes Santos will have talked ) it was a uphill battle IMO. All teh value could not have been released to STO. I wonder if in the background any of the partners had done a side deal but a tough one to ensure it is approved by various governments politicians especially PNG.
IMO STO lowball token ongoing interest for last 6 months was probably a strategy just to ensure they got notified and aseat at the table if the data room got opened up to anyone else.
OSH has dodged a bullet OSH has cleared out major shareholder overhang OSH can now get on with business and see if any other approaches are made OSH needs to get management hous ein order Pronto and I am still really pissed that in last share offering that a long dated option was not included to prevent such a lowball offer and any future offer for control. Thankfully majors manage much the projects and have eye on ball New oil / gas pricing changes the Alask landscape which adds massive value to project and also cashflow to producing assets in PNG.
Sorry STO 3 months ago you may have been a winner at a bargain - now you nee dto put up $ and shares and compete with others to get a seat at table IMO.
Beware STO- it might be OSH or one of the major partners who can make synergys happen hunting you very soon IMO. Shame STO has such a wiley manager otherwise OSH or others might get STO at a decent price.
Best news is that it has hilighted to market that OIL sector is not dead and that it was looking undervalued so all ships will rise on the tide especially with so much $ cash inflows into fund managers needing a place to earn$ as interest rates will remain low.
6 months without silly buggers in oil manipulation or OPEC issues and OSH shoudl look a lot better- odd sof that are not great with Russia flexinga nd usual ga spolitics sheesh it never ends
