Archive for May, 2012

The Australian dollar has fallen below $0.98 against the USD overnight. The Aussie is now down 8.4% in 3 months bringing welcome relief to Australian manufacturers, farmers and Wayne Swan amongst others.

Our Quest portfolio continues to hold Oil Search as a core holding. Oil Search holds 29% of the Exxon managed Papua New Guinea Liquified Natural Gas Project which is due to deliver first gas from the PNG highlands to Port Moresby in 2014.