Woodside in trouble..., page-16

Agree with most but disagree on the capper issue. Mind you, in what follows in my rant ( below) it would then be fair to say that the SP was not capped... rather played by the shorters as they feel free because they seem to be "in the know".

So, of more concern now is what's being fed to public/investors/little people etc.
Couple days ago one media outlet bandied FAR's costs for upcoming drill program in region of 12mil. Initially I had same ballpark figures but after further consideration shifted my view to be more in region of 20mil (Aus dollar).
Now I pick this up from a FB post (understanding is that it's a Morgan's Research Note publihed today): Hopefully someone from FB can post the link to the report.

"The drill program is expected to cost ~A$30m (FAR’s share), which may vary depending on the amount of flow testing and the interference program. In its September quarter result FAR reported a cash balance of A$50.5m, and expected December quarter expenditure of A$8m. Accordingly we view FAR will be funded through to the end of this firm program. Looking beyond this program, we expect further appraisal of SNE (and potentially some nearby exploration) to continue until late 2017 / early 2018, at which time SNE will progress into 12-18 months of FEED (advanced pre-development work)."

I've always been of the firm belief that these brokers, prior to releasing a report, would have discussion with FAR management/personnel and much of what they report would have been "fed" by FAR personnel ( I'd suspect GR/CN or Mr media man) before they publish reports... so there has to be some degree of credibility in the content that they report (you can't simply thumb suck some of these statements out of thin air). So going on the bold section, specifically referring to the use of words like "and potentially some nearby exploration" clearly suggests that this broker was "fed" by Management/ FAR personnel or someone "in the know".

A further extract from the morgan's report: " We continue to await confirmation of the JV participants in Senegal, with FAR opposing the sale of ConocoPhillips’ 35% interest to Woodside Petroleum (WPL, Hold, A$27.86 PT). While FAR would have benefited from increasing its stake, we do not view WPL’s participation as a negative for FAR, the JV or the project."

"While FAR WOULD HAVE BENEFITED"??? ... excuse me?? .. WTH?.. What is going on Management!! I take it you (Management) would have previewed the report before being published... thus further indicating that you (Management) are in agreement with what has been stated/released.. So why not come out and speak up... instead of filtering the "not so good news" to the little people through means of broker reports. IF not, then it's only fair to expect that you (management) will jump on this immediately and have the record put straight..... watching.. waiting.

So just going on the above I ask:
How can there be such huge discrepancy between the numbers reported by one entity and another. .. 12mil vs 30 mil. Going on the latest report it becomes very clear why there are 100mil shorts because it speaks of one thing and one thing only ... imminent CR. If true, why can management not come out and give clear direction to shareholders as to what goes for what. ... I THINK...Probably... because the shorter, when approached by management and requesting MR Shorter not to continue to short... simply gave them the "big bird" ... hmmm.. right??? yeah... right!. And so Mr Sydney shorter continues on its merry way. And in the meantime Management try and keep every thing hush hush...hoping for a miracle that SP ticks up a fraction before flooding the market with another billion shares and in meantime they (management) don't say a word because they have this convenient "secrecy veil/shield" that protects them from the "little people" .

Then on the PE issue, referring to the above report, the words I've put in "bolds" certainly jumped out. Why would that sort of statement be made.. have some of these guys been "in the know" for some considerable time... apparantly so.. hench the massive increase in shorts.

Management!! Stand up, get out of your secrecy bubble which you've been hiding behind and start telling us, the little people, what is going for what.

All this..in my opinion. And if I'm wrong in my inferences... then I still ask, why the hell does FAR management allow these type of reports to see the daylight....
To many secrets... no transparency..

Spare me the Cheer squad onslaught please... but if you must... go ahead. I'll cop it...BUT ASK THE QUESTIONS!!.. don't just accept everything being spinned by the "spin docters".