gone quiet - will slide or go sideways if no news, page-2

Bit of action off the east coast of Africa.....
Australia's Woodside Petroleum is involved in an exploration deal off the coast of Kenya. On 12 May 2003, Woodside reported that it has struck an agreement with the listed entity Global Petroleum. On the same day, shares in Global closed at $A0.185, while Woodside closed at $A11.50. There are four ocean blocks off the coast of Kenya worth drilling. Woodside will become the operator of the project with 40%, Dana Petroleum of the UK will retain 40%, while Global will retain 20%. Woodside has been studying the area intensively for the last two years. Its management noted that drilling for oil could start in 2005.