what makes you say that? woodside SP has a low of growth projects factored into the current SP. if they cannot deliver browse, sunrise and pluto expansion then a lot of the NPVGO that compromises the current sp will vanish. just one quick look at the p/e ratio should tell you that. esp in the current overheated labour market, and not a great exploration campaign. anyway, woodside is a strong company but wheather the current SP is justified is a totally different matter...
will bhp have a tilt at wpl?, page-17
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