Pro - i would think you have nailed potential suiters on the...

Pro - i would think you have nailed potential suiters on the head - take this from Huntley's:

"... The company delivers a reliable dividend stream and Shells 34.3% stake adds spice. Well managed with a strong balance sheet, WPL is suitable for conservative investors seeking oil and gas exposure and stand-out long term growth. It represents a cornerstone energy exposure in a balanced portfolio..."

In my opinion, the major shareholder (Shell with 34%) would be in the box seat and in a position to knock-back any competing bids from either BP or Chevron - however, we must remember that a possible tie-up was knocked back by Costello in 2001 on grounds of "national interest" so the government may well have concerns should the oil majors come knocking again.

Regardless, I think WPL is a screaming buy at today's prices where the fall in oil price has to some extent been nullified by the depreciating AUD and consolidation is rife within the sector.

Cheers