Coleman says its Theatre

[ioc.aussie]

Turning to acquisitions, Mr Coleman said he was watching with interest the progress of the $US2.2 billion-plus takeover bid by Oil Search, Woodside's unsuccessful takeover target from last year, for rival Papua New Guinea player InterOil.

"It's interesting theatre ... but it's theatre," he said, confirming that Woodside had also taken a look at InterOil but decided it was "a bridge too far".

"For us we always felt it was a difficult transaction to make," he said, adding that now Woodside is "not actively looking" in PNG at all.

"We're off elsewhere, we're in Myanmar, we're in Africa, we're looking at our developments in Australia and what we can do with them, and we're off in Canada. So we've got a pretty full plate at the moment of things to do."


Read more: http://www.smh.com.au/business/energy/wo...z4AtDRUxIX
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[Stavros]

Woodside is off in Myanmar - - - Ha! Still run by crooks. This is what Woodside has in Myanmar; not outstanding at less than 0.5 Tcfe:

The Shwe Yee Htun field contingent resource (2C) is 895 Bcf dry recoverable gross gas, of which Woodside’s net economic interest is 209 Bcf. Woodside holds a 40 percent interest in Block A-6 held under a production sharing contract with the Myanmar government.

The Thalin field contingent resource (2C) is 1510 Bcf dry recoverable gross gas of which Woodside’s net economic interest is 260 Bcf. Woodside holds a 40 percent interest in Block AD-7.

http://www.naturalgasasia.com/two-recent...mboe-18564

Woodside is off in Africa - - - Ha! Think Nigeria, Angola, Somalia (all with law and order issues) and Mozambique (no infrastructure for at least 10 more years). They have a few acres in Cameroon and Gabon - - - WHERE????

Woodside is off in Canada - - - Ha! Think Oil Sands ($150 Oil price required) and cancelled LNG Plants due to YUUUGE costs and environmental issues. They've been involved in "Grassy Point" BC as sole proponent for 2.5 years and have gotten nowhere.

Woodside has nothing.
It must give a dividend in excess of 5.6% to attract Shareholders

[cybersssss]

XOM gave an offer of 35 dollars...What is that of? Was that just for Interoil's interest in PRL 15 and then Interior retains all the payments of the total deal, in addition to the exploration upside?

The details of ALL the bids need to be publishes. Let's see what we really got. Did Hession just sell the company out for some retained position at Oil Search? He clearly is not interested and is horrible at exploration.

[jft310]

Essentially we have a bid on part of E/A assets from OSH . Why not spin off the balance where zero value was received to shareholders . One of Phil's stated agendas . We get paid from OSH and get assets to explore .