First half results were in line with Morgan Stanley's estimates. Due diligence is currently being conducted by both Santos and Oil Search on the merger, so broker notes the market awaits an outcome.

The market is also awaiting news on Papua LNG as commercial agreements need to be agreed to use existing infrastructure from PNG LNG.

Equal-weight. Target is $4.50. Industry view: Attractive.

Sector: Energy.

Target price is $4.50.Current Price is $3.82. Difference: $0.68 - (brackets indicate current price is over target). If OSH meets the Morgan Stanley target it will return approximately 15% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2021 Acquisdata Pty Ltd., source FN Arena