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yeah a pity you sold it that early really, but i think a lot of other people would have as well - like when the market crashes etc
WDS - Woodside Energy Group
- Thread starter markrmau
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WPL has broken through above $40.
This was a resistance point and if it closes above this, it will be an indicator of a new upward trend.
I beleive this share will significantly push ahead over the next few weeks with a target of $50+
This was a resistance point and if it closes above this, it will be an indicator of a new upward trend.
I beleive this share will significantly push ahead over the next few weeks with a target of $50+
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Why $50?
I hold so am eager for good news guru. $50 would be fantastic. I figured WPL would need to increase their returns via LNG to get to the $50 area.
Sean K
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This share has pushed on strongly today to be above $41.
I beleiv the assets of the company and its LNG expasion in WA are significantly undervalued. The share has not done much over that past year and I think it will test its previous highs of around $50
I beleiv the assets of the company and its LNG expasion in WA are significantly undervalued. The share has not done much over that past year and I think it will test its previous highs of around $50
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Looking at the fundamentals, I think the market undervalues natural gas in general, especially that which is able to be sold as LNG. Many still seem to be thinking in terms of "cheap and abudant gas" which isn't really true anymore in the global market context.
Kauri
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Woodside mulls asset swap for Atlantic LNG
3rd May 2007, 10:15 WST
Woodside Petroleum may swap a stake in its proposed $10 billion Pluto liquefied natural gas project off northern WA for assets in the fastergrowing Atlantic market.
Chief executive Don Voelte said Woodside had received “very interesting offers” for a stake in Pluto and would decide by August whether to develop the project. Offers would not be considered until then, he said.
“Pluto would never get sold for cash, we would want something of great value in return for it,” Mr Voelte said.
“If Woodside is offered an opportunity that we believe is vastly superior than what we’ll give up with Pluto but works for another company, then we’ll consider that,” he said.
Global LNG demand may more than triple by the end of next decade, with consumption in Europe and North America overtaking demand in Asia by about 2015, according to a Wood Mackenzie Consultants estimate.
Assets in the so-called Atlantic Basin would give a bigger global reach to Woodside, which now counts on Asia for almost 90 per cent of total sales.
Trading a stake in Pluto for a share in a project or asset held by an Atlantic region LNG producer, such as BG Group, may make sense, said Frank Harris, co-head of global LNG at Edinburgh-based Wood Mackenzie.
“Woodside is the pre-eminent LNG player in the Pacific Basin and you’ve got BG in the Atlantic Basin,” Mr Harris said. “With those two companies there must be some interesting possibilities.”
French group Total, which last year bought a stake in Inpex Holdings’ Icthys LNG project off WA, was the other obvious candidate with its interests in the Middle East and Nigeria, he said.
Woodside’s board in December approved an initial $1.4 billion of spending on the 100 per cent-owned Pluto project and is due to give final approval for development by August, with a target of late 2010 to start deliveries to Japan. The project will triple the company’s LNG output.
Woodside may either swap a stake in Pluto for a share in a venture that supplies LNG to Europe and the US or develop its own project for the Atlantic market through exploration.
The Pluto project will have a capacity of 5 million to 6 million tonnes a year of LNG, costing between $6 billion and $10 billion, Woodside said in November. The company has deals to sell fuel from the project to Kansai Electric Power and Tokyo Gas, which are also negotiating to buy 5 per cent stakes in the venture while Woodside retains full control.
While Woodside may be interested in an asset swap, “those are hard deals to put together”, Mr Voelte said.
“At least until the final investment decision you should not expect anything but we have certainly catalogued what people have talked to us about, so that if we ever do turn that tap we can work on some existing ideas.”
ConocoPhillips, the second-biggest US refiner, last year started LNG production at a plant in Darwin, while Chevron, Inpex and BHP Billiton are among companies proposing to develop projects in Australia.
Woodside may also seek to enter the US and European LNG markets “through the drill-bit,” by exploration in countries such as Libya that may offer the potential for LNG supply to the both sides of the Atlantic Ocean, Mr Voelte said.
“We look at it from a drill-bit perspective and we look at it from an M&A perspective,” he said. “Clearly other people have the same aspiration that we have so the opportunities aren’t just sitting there for our taking, you have to develop them.”
ANGELA MACDONALD-SMITH
3rd May 2007, 10:15 WST
Woodside Petroleum may swap a stake in its proposed $10 billion Pluto liquefied natural gas project off northern WA for assets in the fastergrowing Atlantic market.
Chief executive Don Voelte said Woodside had received “very interesting offers” for a stake in Pluto and would decide by August whether to develop the project. Offers would not be considered until then, he said.
“Pluto would never get sold for cash, we would want something of great value in return for it,” Mr Voelte said.
“If Woodside is offered an opportunity that we believe is vastly superior than what we’ll give up with Pluto but works for another company, then we’ll consider that,” he said.
Global LNG demand may more than triple by the end of next decade, with consumption in Europe and North America overtaking demand in Asia by about 2015, according to a Wood Mackenzie Consultants estimate.
Assets in the so-called Atlantic Basin would give a bigger global reach to Woodside, which now counts on Asia for almost 90 per cent of total sales.
Trading a stake in Pluto for a share in a project or asset held by an Atlantic region LNG producer, such as BG Group, may make sense, said Frank Harris, co-head of global LNG at Edinburgh-based Wood Mackenzie.
“Woodside is the pre-eminent LNG player in the Pacific Basin and you’ve got BG in the Atlantic Basin,” Mr Harris said. “With those two companies there must be some interesting possibilities.”
French group Total, which last year bought a stake in Inpex Holdings’ Icthys LNG project off WA, was the other obvious candidate with its interests in the Middle East and Nigeria, he said.
Woodside’s board in December approved an initial $1.4 billion of spending on the 100 per cent-owned Pluto project and is due to give final approval for development by August, with a target of late 2010 to start deliveries to Japan. The project will triple the company’s LNG output.
Woodside may either swap a stake in Pluto for a share in a venture that supplies LNG to Europe and the US or develop its own project for the Atlantic market through exploration.
The Pluto project will have a capacity of 5 million to 6 million tonnes a year of LNG, costing between $6 billion and $10 billion, Woodside said in November. The company has deals to sell fuel from the project to Kansai Electric Power and Tokyo Gas, which are also negotiating to buy 5 per cent stakes in the venture while Woodside retains full control.
While Woodside may be interested in an asset swap, “those are hard deals to put together”, Mr Voelte said.
“At least until the final investment decision you should not expect anything but we have certainly catalogued what people have talked to us about, so that if we ever do turn that tap we can work on some existing ideas.”
ConocoPhillips, the second-biggest US refiner, last year started LNG production at a plant in Darwin, while Chevron, Inpex and BHP Billiton are among companies proposing to develop projects in Australia.
Woodside may also seek to enter the US and European LNG markets “through the drill-bit,” by exploration in countries such as Libya that may offer the potential for LNG supply to the both sides of the Atlantic Ocean, Mr Voelte said.
“We look at it from a drill-bit perspective and we look at it from an M&A perspective,” he said. “Clearly other people have the same aspiration that we have so the opportunities aren’t just sitting there for our taking, you have to develop them.”
ANGELA MACDONALD-SMITH
From my TA perspective here's why I called exhausted sellers 6 weeks ago.
The black weeks, highlighted in red, should of signaled lower prices to come. There were 3 of them and they effectively all failed. Three is magic for me ... I'm always looking for a breakout of the 3rd go ... if a stock does then I go with it ... conversely if it fails then experience tells me it probably will not on a forth attempt either.
In the WPL case the bearish weeks failed to drive prices lower ... so they failed.
Now with a stock like WPL it rarely trades in a sideways band for too long so a move higher was on the cards ... just a matter of watching for the signals. The W/E 30/03/07 defeated, in one week, nearly 5 months of trading, this was the signal week for me ... and days in that week ...
Now we see the confirming break higher at the end of last week ... volumes not an issue as the 23M that traded on the W/E 30/03/07 stands out and will provide the bedrock for advances from here.
If not long already .... its not too late .... just ensure MM is adequate as the logical place for a STOP is 38.50ish, and now with entry prices around 42.00ish we ahve 10% risk on entry ...
The black weeks, highlighted in red, should of signaled lower prices to come. There were 3 of them and they effectively all failed. Three is magic for me ... I'm always looking for a breakout of the 3rd go ... if a stock does then I go with it ... conversely if it fails then experience tells me it probably will not on a forth attempt either.
In the WPL case the bearish weeks failed to drive prices lower ... so they failed.
Now with a stock like WPL it rarely trades in a sideways band for too long so a move higher was on the cards ... just a matter of watching for the signals. The W/E 30/03/07 defeated, in one week, nearly 5 months of trading, this was the signal week for me ... and days in that week ...
Now we see the confirming break higher at the end of last week ... volumes not an issue as the 23M that traded on the W/E 30/03/07 stands out and will provide the bedrock for advances from here.
If not long already .... its not too late .... just ensure MM is adequate as the logical place for a STOP is 38.50ish, and now with entry prices around 42.00ish we ahve 10% risk on entry ...
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Sean K
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This looks like it'll run a little more to me. Maybe up to the next resistance around 46 to 47 bucks. Gone well since the break through 40.
Kennas,
I wasn't happy with the intent of today's buyers. I am happy to see it break 44 but it wasn't convincing enough to shake off sub 44 in too much of a hurry. I agree 46 plus will be realised and maybe we'll see 50ish by the end of year. MAYBE.
Just some thoughts.
GreatPig
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CanOz
Home runs feel good, but base hits pay bills!
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Yeah GP, this came up on one of my scans for shorts last nite...wasn't quite convinced of the setup though so i've got on watch...
Cheers,
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Short?
Man you are game.
A short sell should have weakness in the background not just consolidation.
WPL has strenght in the background followed by some indecision. Hardly proof for a short.
Good luck.
GreatPig
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Back up 3% again at the moment, bringing it back above the neckline of the head and shoulders.
Wonder if that means it's a failed H&S, or just a last attempt to get back up there...
GP
Wonder if that means it's a failed H&S, or just a last attempt to get back up there...
GP
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Cup and handles don't mean much when these things come up.
'Woodside soars on talk of merger with BG Group'
http://www.smh.com.au/news/business...r-with-bg-group/2007/06/14/1181414460328.html
'Woodside soars on talk of merger with BG Group'
http://www.smh.com.au/news/business...r-with-bg-group/2007/06/14/1181414460328.html
Woodside's problems on the Chinguetti field are ever increasing. Cannot even average 11000 bopd at the moment. A huge letdown on the intended 75000 bopd.
Initial plans were for an offload every 2 weeks, last offload was over 2 months ago.
Will be surprised if they are still there in 6 months.
Initial plans were for an offload every 2 weeks, last offload was over 2 months ago.
Will be surprised if they are still there in 6 months.
Mattyroo where did you hear this from? Last I heard it was averaging around the 25000BOPD mark. Letdown is an understatement. This oil field has been a complete disaster and that is why all the prospects around it which have the potential for commercial development have not gone any further than the appraisal stage.
