Good info and argument, Damo26. Woodside (like BHP and RIO) spend big and get investors to go along easily with the humungous project thinking. Still, the side-by-side comparison suggests that the Vietnam block is super investment that hasn't been realized by any stretch by the market.
The only counter argument is that Pluto is near existing LNG projects with known large production and reserves (e.g. Gorgon), whereas I'm not sure how many Vietnam blocks have yet demonstrated ACTUAL production as we have in Northern WA. Also, northern WA has infrastructure, which might not yet be there in Vietnam. However, with Exxon, ENI, and others, funding would be pouring in if the exploration results are a good as even the lowest estimates.
NEN Price at posting:
31.5¢ Sentiment: Buy Disclosure: Held
