Excellent post as usual. In terms of WPL, whatare your current...

Excellent post as usual. In terms of WPL, whatare your current views in terms of exit strategy?

Reading your analysis I would think on a fundamental investment case basis youare holding onto your allotment as crunch time hasn’t arrived yet.

However, keen to know if you think its wise to lock in some profit now and letthe rest run. I purchased my allocation in Aug 2020 and for the moment haven’tsold a share as I think similar to yourself that there could be a significantand prolonged super cycle for oil and gas in the coming 24 months. But havingseen WPL retract a tad, psychology you tend to wonder if one has missed theboat! The perils of being human I suppose!

Its almost a daily challenge to ignore the news snippets of the day and focuson the longer term under supply which will come home to roost at a larger scalethan most people believe.

One question I have is, will Woodside be similar to WHC in that the latter ifvalued on a fundamental basis is worth more than $10 a share which it willnever get to but shareholders will get their return through astronomical dividends. I do understand that oil and gas have a lot more going for it than Coal, however the prevailing ESG pressure is hard to ignore.