General Thoughts, page-3340

Hi Jibby,

I think you are on the money with the timing of the announcement.

There are certainly some naysayers that believe the 'green' movement will handicap Woodsides willingness to publicly commit to PEL87 at the moment but...

Having another look at the Chairmans letter there were a couple of bits that stuck out:


It would seem that the vast majority of shareholders seem to understand the need for oil and gas as some kind of energy transition takes place over the next few decades.

98.66% voting to merge with a petroleum business is a pretty big endorsement.

The 1.34% that didnt are probably the fringe lunatics that dont care about ROI but at the same time are happy to hold there hand out for the dividend cheques!



Great corporate speak leading up to the punchline of "in 2050".

I read this as acknowledgment that something must appear to be done, but back in the real world there is a growing demand for oil and gas because energy companies started transitioning to early and too hard to alternative energy sources that will not sustain global demand.

Business is about supply and demand and as long as demand outstrips supply for oil and gas, companies like Woodside, Chevron, Shell, Galp, Total and others will continue to invest in O&G no matter how much the 'green' movement shrieks and wails.

I agree with your assessment that the pegs in the sand for the announcement (s) from Woodside and PCL are somewhere between late April (post AGM) and pre AES in May.

Lots happening starting tomorrow before the NIEC next week as the JV partners and suitor assemble in Windhoek.

To be a fly on the wall at that meeting.

No doubt Sintana Energy will pre-empt any official announcements as they cannot seem to contain themselves.