wpl think we are over priced, page-38

A post on the WPL forum by FSM8 puts things into perspective for all the penny brains on this forum.

I really don't get what point you are trying to make.

Woodside has stated it will only spend sub $1B on acquisitions - a change from only over $1B. IMO this reflects where they see value in whats on the market and is just to guide investors in what to expect for the year. Woodside also stated it's looking for undeveloped assets, they have given no guidance to how much they want to spend on developments, sub 1B wouldn't get you even the development wells in Senegal let alone the rest of the infrastructure anyone in the industry could tell you that.

I have never seen a government issue statements within any form of reasonable time frame on such matters, it you leave it up to the Senegal government, it would surprise me if you didn't hear for another few months.

There has been a bit of surprise on price, but the sale occurred at very low oil prices. For all we know maybe everyone else pulled out when prices where at their record lows.

As for no growth, I like Woodside's portfolio - greater Enfield, Wheatstone Myanmar, Canada etc, plenty of avenues for growth not even including a possible eventual Browse and Sunrise. There are plenty of assets on the market, no need for them to become overly attached to Senegal.

As a shareholder I'd rather see Senegal fall through than to pay too much. If the fact Cairn only has a 17% recovery factor doesn't get you at least somewhat prickly on reservoir quality then you probably haven't been in the oil and gas game very long. IMO there's something which isn't publicly known about the reservoir yet.