Good reasons for the fear:
New PNG PM hs taken aim at OSH, warning the company to pay its taxes
Telling OSH to stop funding local initiatives such as clinics and give the Govt the money instead
Investigating the UBS deal that cost PNG USD400m
Not ratifying the deal struck with the JV partners until the review is complete (in 2 weeks now)
Will the PNG LNG expansion go ahead as planned?
Does PNG now have more sovereign risk?
All scary stuff..... but... but .. but
OSH has paid its taxes to the tune of USD1B
OSH hs a proud record of helping people on the ground/ Whose aircraft were used in the recent earthquake disaster.
Will OSH really bite the Australian hand that feeds it to the tune of AU billions every and every year?
What would the budgetary consequences be for PNG if it delayed, let alone stopped the PNG LNG expansion?
The new PM is not crazy, most of his actions are to harness personal support, they are political and will not undermine the income of the country.
Now look at the OSH chart. Near 3 year lows.
IMO it has bottomed on current news, it won't take much to send it higher again. Not this week, but next.
My Opinion DYOR
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