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MarketScreener Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Oil Search Limited    OSH   PG0008579883

OIL SEARCH LIMITED

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Oil Search : supports Kutubu Secondary School rebuild after earthquake

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02/14/2019 | 12:07am EDT

Oil Search supports Kutubu Secondary School rebuild after earthquake

PNG Media Release

Monday, 11 February 2019

Kutubu Secondary School in the Southern Highlands Province is rebuilding its school so 700 students can return to classes after more than ten months of no schooling.

The school was one of several in Southern Highlands and Hela Provinces that were severely affected by the 7.5 magnitude earthquake a year ago this month, which caused major destruction to houses, food gardens and government infrastructure such as roads and bridges.

For Kutubu Secondary School, the process of rebuilding is well underway with the near completion of a new mess block with the timely support of Oil Search. The mess is essential to operate the boarding facility.

The Oil Search earthquake recovery team had earlier completed reconstruction work on the 4.5 kilometre feeder road to the school, and also for the Inu community, located next to the school.

The access road was badly affected by slips that required stabilising and drainage that was blocked. The principal, Bai Irabo had engaged local youths from the area to do maintainance work but that was not going to be enough.

The reconstruction of the road by Oil Search was completed in December, and is aiding the reconstruction work on the school itself.

On a recent visit to Kutubu, Leon Buskens, Oil Search General Manager for PNG Stakeholder Engagement was pleased to see that Kutubu Secondary School under the leadership of Mr Irabo, had begun efforts to reconstruct its mess.

The school had sourced timber and other building material from local saw mill operators and suppliers and had engaged the help of local carpenters.

Oil Search donated 30 bags of cement and two truck loads of builders mix.

An elated Mr Irabo thanked Oil Search for the donation adding it would help lift the morale of the entire school.

"Oil Search's commitment in rebuilding our communities through the Oil Search Foundation and our partners continues a year after the earthquake. The level of self reliance demonstrated by Kutubu Secondary School is exemplary," said Mr Buskens.

End.

For further information, please contact: Ruth Waram

Manager, PNG Communications Mobile: (+675) 7190 6078

Oil Search Limited

Incorporated in Papua New Guinea ARBN 055 079 868

Photos

The new mess at Kutubu Secondary School being constructed following the February 2018 earthquake

Oil Search delivers much needed building material to complete the new mess for Kutubu Secondary School following the February 2018 earthquake

Photos courtesy of Oil Search.

Oil Search supports Kutubu Secondary School rebuild after earthquake- 11 February 2019

2

Disclaimer

Oil Search Limited published this content on 14 February 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 14 February 2019 05:06:10 UTC

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EBIT 2019 899 M
Net income 2019 495 M
Debt 2019 2 726 M
Yield 2019 2,95%
P/E ratio 2019 16,24
P/E ratio 2020 14,65
EV / Sales 2019 6,11x
EV / Sales 2020 5,90x
Capitalization 8 063 M
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