getting strings from the shell commands

[Sarcar, Shourya C (MED)]

i have a shell script which prints some strings on the stdout. how can i
get those strings without having to open and parse a (tmp) file from
python

<script>
#!/bin/sh
echo $1 # print something
</script>

I want to do something in python LIKE

os.system("./myscript") but how can i get the out put into a [list of]
strings

shourya