It's been great reading Orgone's TA on MEO and I have used those insights to time my entry and exits... and he's been on the ball a lot! I like the reasoning behind it all.
I think the movie comes out next week... great title for a flick by the way...Orgone Accumulator v Predator :)
Woodside released a 2009 Half Year business review document yesterday, it just confirms what we alreay know in regards to Pluto...
Pluto Train 1: maintaining cost and schedule Construction of the Pluto LNG modules has continued to make good progress. At 30 June 2009 the project was 65% complete and on schedule for first gas by end of 2010 and first LNG by early 2011. Peak construction, a critical phase for remaining on cost, is anticipated to be completed over the next six months.
Pluto: expansion begins with announcement of FEED During 1H the expansion of the Pluto facilities beyond Train 1 took a positive step forwards when the Martell-1 well discovered 110 m of gross gas in the WA-404-P permit to the west of the Pluto field.
Woodside has initiated the Front-End Engineering and Design (FEED) work on Train 2 and Train 3 for Pluto expansion. A final investment decision on Pluto Train 2 could occur in late 2010 subject to FEED and further progression of gas supply options.
During 2009 Woodside has acquired five new exploration blocks in the Carnarvon Basin and is gearing up for a major exploration drill campaign of 20 plus wells, commencing in Q4 2009. In conjunction with this planned exploration, discussions with owners of other Carnarvon Basin gas fields are progressing.
MEO Price at posting:
65.5¢ Sentiment: Hold Disclosure: Held
