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$22.81 woodside petroleum ltd

Ann: Half-Year 2018 Results and Briefing Pack, page-57

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FSM8

531 Posts.

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26/09/18

20:57

Post #: 35865245
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Originally posted by Horsetrader1 ↑

Originally posted by szaba_the_hut
Acquisition opportunity on existing projects with the surplus cash perhaps?

FAR have an arbitration active on the SNE asset that could delay FID there and they also have a nice % of the Gambia block next door. WPL could make the FID delaying arbitration go away and boost SNE % and also get a nice % of the Gambia asset by becoming a major holder of FAR or doing a full takeover.

For transparency - I hold both.......
Let me think about that one. My initial reaction is that FAR, with a market cap of $682m would probably want $1B as t/o number. the question WPL would need to answer is whether that is the best use of WPL's cash or whether keeping the cash for CAPEX is a better use. I do nto have the answer to that.

HT1

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For 13-15000 bbls a day production from SNE... around 5 million bbls/year. You can buy existing production for less than that price.

Quadrant: 19mmboe/yr production was 2.15 billion... so nearly 4 times the production online than FAR will have after development, and around 3 times the 2P/2C reserves that FAR has. Far better value opportunities around in M&A.

WPL Price at posting: $38.55 Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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