WDS - Woodside Energy Group

[Fester]

New to this discussion.
Interested on any comments re the reasons for the turn around in direction of WPL on Feb 28th?

 

[kiwiseven]

Has anyone heard any rumours about Woodside farming into either Desire Petroleum or Rockhopper Exploration? Both DES and RKH are UK listed on AIM and exploring for oil around the Falkland Islands.

 

[Gekko]

Approaching recent all time highs again. If it fails to break through, could be opportunity to take some profit or put some shorts in, particulary given the fact that index's are approaching technical resistence levels (ie, DOW 13100) after having quickly rallied 14% from the lows. If it breaks through above recent high, hold or accumulate more

 

[sarm]

Hi Everyone

I am just wondering about todays WPL performance. It rose 3% during the course of the day, while its peers fell as crude prices dropped. Does anyone have a good explaination? I mean 3% is rather substanital!

 

[Lukeyz]

Will WPL open lower tomorrow morning due to the fuel excise being removed in the 2008 budget??? Or already priced in??

Cheers

 

[agro]

Govt hits back at Woodside over tax slug

The Rudd government has hit back at gas giant Woodside Petroleum, saying its new tax slug on light crude oil from the North West Shelf is fair.

Assistant Treasurer Chris Bowen has told parliament North West Shelf stakeholders have benefited very substantially from generous tax concessions that are no longer needed.

Mr Bowen was introducing amendments to the excise tariff law covering condensate - light crude oil extracted from natural gas - which were announced in Tuesday's budget.

The effect is to place North West Shelf condensate on the same excise regime as crude oil, with a top rate of 30 per cent when production exceeds five million barrels a year.

The government estimates the change will boost revenue by $2.5 billion during the next four years.

Woodside chief executive Don Voelte slammed the change on Wednesday, saying the industry had not been consulted.

The exemption was a negotiated fiscal arrangement, not a free ride, he said.

The North West Shelf venture was a major contributor to Australia's economy and changes to the fiscal regime should be considered carefully after consultation with the industry.

Mr Bowen said the change would allow Australians to share more fairly in the benefits from extracting non-renewable energy resources.

Exemption for condensate was introduced in 1977 to encourage the development of petroleum resources on the North West Shelf.

"Stakeholders have benefited very substantially from this concession," Mr Bowen said.

"As the development of petroleum fields in these regions is now reaching maturity, and the world prices for non-renewable energy resources are high, there is no longer a need to retain this generous concession.

"Given the similarity between condensate and crude oil, the two commodities should be taxed in a similar manner."

The change would mean a reduction in royalties to the Western Australian government, Mr Bowen said.

The commonwealth would compensate Western Australia for the loss, with an initial payment of $80 million to cover next financial year.

Mr Bowen said opposition fears that the change could lead to higher petrol prices in Australia were not justified, because the price of petrol was set overseas.

http://news.smh.com.au/business/govt-hits-back-at-woodside-over-tax-slug-20080515-2ei5.html

thoughts?

 

[sarm]

Prices at 63 dollars... not sure how to comment... I dont think this effects the share in any way... The price of crude is has dropped over night yet we still see a share price increase into new territory... WTH?

 

[juw177]

http://news.smh.com.au/business/govt-hits-back-at-woodside-over-tax-slug-20080515-2ei5.html

thoughts?

I can't fault the decision. It is good to see the government is standing up to the powerful lobby groups and act in the interest of the citizens.

 

[Knobby22]

I can't fault the decision. It is good to see the government is standing up to the powerful lobby groups and act in the interest of the citizens.

As long as they spend the money wisely. That's the rub.

Interesting how the price jumped, possibly must have been known by insiders before hand who shorted and had to get back in.

 

[prana]

Massive rally today. Are there take over rumours or Chinese interest in the company, or just a rally in oil ?

 

[Uncle Festivus]

Massive rally today. Are there take over rumours or Chinese interest in the company, or just a rally in oil ?

Looks like a general rally in energy stocks, XEJ up 4.5%. Looks impressive! Maybe parabolic blow-off top?

 

[MRC & Co]

Maybe parabolic blow-off top?

I hope so

I'm looking for some kind of retracement in oil so I can get in, even if simply as a hedge to how much my car costs to drive around !

Para blow-off top would be even better!

 

[Uncle Festivus]

I hope so

I'm looking for some kind of retracement in oil so I can get in, even if simply as a hedge to how much my car costs to drive around !

Para blow-off top would be even better!

FWIW, i've taken a short here @ 6860. Unless it's something more than a reaction to the GS report saying oil will average $140 this year then we could get a fall back after this strong rally? Brave lemmings buying at $68.90 top? STO up over 7% too.

 

[ShareIt]

Only the smart will take a short if you know what i mean I ain't a hungry chicken that needs feeding I'm waiting for a $70 touch

 

[agro]

far out
wonder whats going on!!

certainly not just the oil at 128 :S..

they mentioned on sky news today that shell wanted them a while back but was rejected

edit - santos up too

 

[Uncle Festivus]

Only the smart will take a short if you know what i mean I ain't a hungry chicken that needs feeding I'm waiting for a $70 touch

Yes, looks like going para all right - 10% now! There's your $70 one touch!!! Put another short on the fire . Goldman Sachs ramp has a lot of explaining to do?

 

[Uncle Festivus]

That little episode just added some $4.4 Billion to the market cap!!

 

[The Once-ler]

they mentioned on sky news today that shell wanted them a while back but was rejected

Wasn't it a few years ago when shell wanted Woodside?
When they were $13 or so?

......................................

 

[M34N]

Also heard the rumor about an offer from Shell on Sky News. Would explain the rally in the whole sector, definitely speculative buying given we've had bigger rallies in the oil price and nothing near this kind of gain. Seemed to have rocketed off around midday too.

Spewing I sold this one a while back!

But yeah, a short now seems the goods, don't think there's any basis for this rally, odds are it's just speculation. But would recommend waiting until a drop in the crude oil price first before doing that, could still be a lot of bulls pushing up oil for a while longer, too much risk to go in yet either way.

 

[jonojpsg]

Hey all,
I was going to take a short on this this morning after seeing it run so hard yesterday but forgot until now.

Is anyone watching their screens though?? There is almost ZERO sell depth for WPL - currently 3000 sell and 300000 buy!!!!!

Also weird because there aren't ANY sellers on the sell side and it still shows a total of 3000 shares

I've never seen this before - would have thought it would push the price up though??