(Corrects second paragraph to say stock's last close was on Friday, not Monday)
April 7 (Reuters) - Oil Search Ltd OSH.AX said on Tuesday it will raise up to A$1.16 billion ($706 million) through a discounted share sale as it looks to weather a prolonged period of weak oil prices.
The Papua New Guinea-focused oil and gas producer said the cash call will be at an offer price of A$2.10 per share, a 23.1% discount to the stock's Friday close.
($1 = 1.6437 Australian dollars)