I would suggest that Woodside had zero interest in ever drilling a well in offshore Namibia.
That they were actively trying to bring in a larger partner (Exxon, Chevron, Shell etc) to pay for the drilling.
And they were quite advanced in these discussions.
That would have reduced their own interest down from 56% to a figure that they could not stomach (after forking out $35m on seismic)
That they tried to change the deal with PCL to get a bigger share (reducing PCL to 10% is my guess)
They probably also tried this with Sintana/Custos.
That they thought PCL would fold given the time constraint (Jan '26) on drilling.
Which Woodside would call negotiating.
Some would call bullying.
I will call extorting.
And PCL simply told them to get f.....
So Woodside, you weak pathetic, B grade oil company, you have just made a critical error.
A supermajor will jump at this opportunity.
It will take time however as these big O&G's move slow but I'm sure this is the talk of the town and everyone will be scrambling to get involved.
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I would suggest that Woodside had zero interest in ever drilling...
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Last
1.2¢ |
Change
0.002(15.0%) |
Mkt cap ! $93.57M |
Open | High | Low | Value | Volume |
1.1¢ | 1.2¢ | 1.0¢ | $103K | 9.521M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 884415 | 1.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.2¢ | 6911103 | 13 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 4915 | 0.011 |
16 | 12313709 | 0.010 |
21 | 7587022 | 0.009 |
21 | 5502862 | 0.008 |
9 | 3009691 | 0.007 |
Price($) | Vol. | No. |
---|---|---|
0.012 | 6911103 | 13 |
0.013 | 3761243 | 9 |
0.014 | 2326227 | 7 |
0.015 | 1371302 | 5 |
0.016 | 2000000 | 1 |
Last trade - 15.55pm 17/06/2025 (20 minute delay) ? |
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Ronald Miller, Non-Executive Director
Ronald Miller
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