just a theory ..., page-27

Finally and again I stress.

Mauritanian government I am sure has been fully informed. Not even a question in my mind.

They would have got finance from someone. The commercial side of the deal is just too plain to see.

From whom they eventually did was the surprise. Maybe it was with Woodsides blessing and knowledge but then again maybe not. Maybe there was someone else lurking from another oil company in the wings. Maybe Sterling was the saviour for the partners. Story and theory change little if it was someone else lurking.
Point is source of finance is telling. It was not from a bank !

Logic tells me if anyone was going to commit the funds it would have been Woodside for some other consideration. Another 60 mio on top of the 360 mio for your share is not a big increase for someone of Woodsides Market cap.

As to valuation of WPL and takeover target. Who knows but suspect the blocking position of shell is there still. Also being honest, expect profits up 25% this year alone, thats why there is so many buy recommendations on it from various brokers.
Even on last years P/L it has a very low P/E.
Let alone what the P/E will be if my theory is correct in 2008. Not going to spell it out too much.

Suspect if a suitor was to come along, well, firstly the premium would be huge, secondly it still is not in the countries interest for it to happen. Lastly still the blocking holding of shell.

Enough from me
Its just a theory ... but its a good one

Good luck to all
Disclaimers times 3 again.