WDS - Woodside Energy Group

GREENS said:

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.

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I have a intimate knowledge of this project and know exactly how it is performong. If you want to know anything PM me.

Who feels like shorting WPL now? Today it is up again like a champion in blue boxing shorts.

(WPL) looking solid at the moment with the recent break up through short term resistance. May find slight resistance at the $46.3-40 level being the 23.6% retracement from the all time highs to early this year's double bottom. RSI was painting a slightly worrying picture early with strong divergence however this has been countered with todays move through this trendline in the RSI. I bought this with CFD's at $41.75 and scaled in today again, as I reckon oil is the place to be in at the moment. Definently on track to retest old highs in my opinion.

The Australian 20/6/07
ROYAL Dutch Shell is believed to be testing the political waters before launching another tilt at Woodside Petroleum, after rumours hit the market that the Anglo-Dutch oil giant has Woodside on its radar again.

In 2001, Treasurer Peter Costello cited national interest when he vetoed Shell's hostile $10 billion bid to take control of Woodside, in which it has a 34 per cent stake.

But with an election expected before year's end, Shell is believed to be considering trying again.

Shell might believe it can persuade Mr Costello to change his mind once the election is behind him, or win over a new treasurer in the form of Labor's Wayne Swan.

Woodside shares yesterday rose 90c, or 2 per cent, to a new 12-month high at $46.85. They have now rallied almost 10 per cent since speculation that Woodside was a target emerged from London late last week.

In early London trade last night, shares in Shell were trading up nearly 0.5 per cent on the back of the speculation, at 2012p.

Treasury in Canberra was understood last night not to have received any official approaches about Shell again testing the waters.

The Treasurer's office said the rumours, which gained strong traction in the trading session yesterday, were the first it had heard of the news.

Mr Costello holds ultimate control of the Foreign Investment Review Board, which rejected the initial approach by Shell to gain full control.

The Government would be keen to avoid any corporate scandal in the lead-up to the election, having already battled Telstra and the fallout over the collapsed Qantas private equity deal.

Its management of the economy is seen as the number one platform of the Government's bid for the election, meaning it would want a smooth campaign.

A Shell spokesman in London last night said it too had been made aware of the second-guessing which drove Woodside shares higher. "I have heard the rumours but we don't comment on merger and acquisition speculation," the spokesman said.

Since the first decision by the FIRB, Woodside has repaid the Government's faith by expanding the North West Shelf liquefied natural gas project, and it is also proposing to spend $10 billion on its Pluto LNG project offshore from WA.

The share market now values Woodside at almost $32 billion, more than three times Shell's 2001 offer.

A key driver for Shell would be securing for itself Woodside's rising LNG growth profile in a market in which Asian LNG demand is on the rise.

Shell's Asia-Pacific growth plans were crimped last year when Russia forced it to cede control of its Sakhalin-II LNG project on Sakhalin Island bordering the Pacific.

Mr Costello blocked Shell's bid because he was concerned that Shell might pursue gas projects offshore at the expense of domestic expansion.

UK broker Cazenove has speculated that BG (British Gas) Group might bid for Woodside with Shell's support.

Industry publication LNG Intelligence yesterday became the latest to report that Shell might be considering bidding for Woodside, following a Dow Jones report that the oil giant was planning a post-election bid.

"It (a Shell bid) is entirely logical," Morgan Stanley's oil analyst in Melbourne, Stuart Baker, told The Australian.

"It is the only proposition that makes any sense."

In the past Woodside has been touted as a target for China's CNOOC and global miner BHP Billiton.

Interesting chart. Well, to me anyway.

Wonder how it will go this time attacking all time highs around 50 bucks?

Big cup there. Is that an inverse H&S?

I'm surprised this has remained independant.

Hi Kennas,
I've been waiting for an opportunity to get in on WPL for a while as well... but fear I have confused myself with my count on it. ..
Despite oil reaching (recent??) all time highs, low US inventories et al, I for some reason am looking for a decline into a W(4) ???
Cheers
..........Kauri

Kauri said:

Hi Kennas,
I've been waiting for an opportunity to get in on WPL for a while as well... but fear I have confused myself with my count on it. ..
Despite oil reaching (recent??) all time highs, low US inventories et al, I for some reason am looking for a decline into a W(4) ???
Cheers
..........Kauri

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Thanks Kauri. POO has to consolidate soon. Perhaps that'll coincide with a pullback? Unless the Frogs start WW4 with Iran I suppose....Show the chart to the budgie and see what he's got to say!

kennas said:

Thanks Kauri. POO has to consolidate soon. Perhaps that'll coincide with a pullback? Unless the Frogs start WW4 with Iran I suppose....Show the chart to the budgie and see what he's got to say!

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It's a tad early in the morning here in Perth for him to fire up but I asked his mate... two chirps and straight into the bath... mmm.. wonder if there is a message for me there??? :bath:
Cheers
...Kauri

$50 could be a physcological barrier to hold... 'profit taking' tomorrow i think...

anyone following BHP & RIO? appears to be overbought (RSI)...

6% drop today with no announcements.

Wonder if this is related to the story that BHP might sell its oil interests to fund the run at RIO? Perhaps the market is nervous that Woodside might be a buyer.

Ferret

Ferret said:

6% drop today with no announcements.

Wonder if this is related to the story that BHP might sell its oil interests to fund the run at RIO? Perhaps the market is nervous that Woodside might be a buyer.

Ferret

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Possible. A lot of the resource stocks which performed well on Friday pulled back today, probably more profit taking than anything. US dollar rebounded a touch from record lows, pushing the price of oil down, in the short term there may be a pullback in WPL and other oil stocks, but I think if there's more bad news in the US economy, which has some important statistics coming out this week, it could push the commodity higher, and most likely, up across the $100US p/b price which so many have been saying for a while. All it takes is more volatility and anything can happen.

I'm personally predicting a bounce in oil up to $100US p/b, will most likely see traders try to push it higher to clear that psychological barrier. It'll most likely have to happen eventually.

Woodside Petrleoum Limited....
on the weekly chart is starting to look interesting again...
Cheers
..........kauri

WPL seems too have support around $46.
Up yesterday on news that LNG will have a year on year growth of 7% worldwide.
DOW up 200 points, oil up, natural gas up, should see a rally in the sp through jan.
Production figures will be interesting in Jan with new production coming on stream maybe an increased dividend as well due too the sale of Mauitania assets.
All just speculation any thoughts ?

Looking stong today !
Completion of Mauritania assets today and the market seems too like that a bit of an underachieving asset.
LNG the future of WPL

Hi folks,

WPL ... has a significant and positive time cycle in play now,
that should keep the rally going strong, until the end of the
first week, in 2008 .....

..... expecting further news (about finances???), around 03012008 ...

Happy New Year

paul



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Good too see you have started coverage of WPL TP one of my favourite stocks over the next 5 years.
Pluto under constuction takeover speculation WPL could rocket anytime

Lucky_Country said:

Good too see you have started coverage of WPL TP one of my favourite stocks over the next 5 years.
Pluto under constuction takeover speculation WPL could rocket anytime

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Wasn't there a takeover attempt a long time ago.....and it was found not in the national interest...or something along those lines. Someone with more knowledge could you please advise...(I remember reading of this...) Can't provide the facts though....

Last takeover attempt was by Shell they now own 34 % of WPL.
Things changed are new government maybe a new Aus bidder maybe BHP all speculation but WPL have world class assets in a stable political enviroment close too asia.
Another scenario is BHP takeover RIO they then divest their oil and gas assets too WPL and reduce debt.

Shell had a crack at Woodside which was ultimately blocked by the Foreign Investment Review Board.

http://www.senatorchapman.com/trwood.htm
http://209.85.173.104/search?q=cach...stment+review+board"&hl=en&ct=clnk&cd=4&gl=au
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2001/01/18/cnshel18.xml

Lucky_Country said:

Last takeover attempt was by Shell they now own 34 % of WPL.
Things changed are new government maybe a new Aus bidder maybe BHP all speculation but WPL have world class assets in a stable political enviroment close too asia.
Another scenario is BHP takeover RIO they then divest their oil and gas assets too WPL and reduce debt.

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I don't think any government would be dumb enough to see WPL taken over by a foreign company. After all, it was the WA state government that single handedly kept them going in the 15 years they couldn't turn a profit. Plus all the millions in infrastructure us WAins have paid for them, that we will never get a return on. You can't guilt trip a foreign company like you can Woodside...