it will rebound, page-3

from pattersons today
Woodside Petroleum (WPL) fell over yesterday on the Shell sell down of 10% of the company. There is a lot of press about who could bid for them but if they really thought there was a bidder out there why did they sell to institutions at a 7% discount. Surely they could have done better and if there was the chance of a bid surely they rang BHP and BG Group to see if they could get a premium instead of a discount. The bid story might just be propaganda to ease the sale. A good line to feed institutions. Either way?.if you read all the press today the general feeling is that a bid is unlikely (though not impossible) and on yield of 2.7%, a PE of 19.1x and a lot of work to do top prove up it Pluto LNG project the stock does not look cheap. Now 4299c.