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DJ MARKET TALK: Woodside Well Placed To Raise Capital -Fitch

0231 GMT [Dow Jones] Woodside Petroleum (WPL.AU) relatively well positioned to raise
additional capital, ratings house Fitch says. Has stable outlook on WPL despite saying
credit metrics to deteriorate somewhat from "very strong base". Although
capital and bank lending markets remain difficult to access, Fitch says Australian LNG
usually sold through long-term offtake contracts with highly rated Asian utilities.
"This makes it a less risky proposition for banks and bond investors than lending to
projects that are more exposed to spot demand and price risk," Fitch says. WPL
raised US$800 million January, but analysts expect it will need to raise more this year
to fund capex. Some have speculated WPL may have to consider equity raising, or assets
sales like its stake in Browse LNG. Fitch, however, expects WPL to progress with Browse
and Sunrise in 2009 with the aim of making final investment decisions in 2010. WPL last
flat at A$32.00. (RRK)