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Oil Search (OSH)

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Our commentary:

25 Aug: Oil Search today reported its 1H09 results, impressing the market. Net profit for the June half fell to US$35.6 million from US$264.4 million in the 2008 first half, when the company booked a one-off gain on the sale of its Middle Eastern and North African assets. Underlying profit was also US$35.6 million, down from US$133.3 million, and above analysts’ forecasts.

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