If you are reading the press, you will be aware that few if any serious commentators expect the FIRB to protect us in this instance.
Also, if you remember the WPL saga the main concern was that if Shell got control of WPL at that time, then it might defer investment in favour of it's LNG elsewhere in the world. This time Shell would clearly be buying to expedite development in Australia - Bligh has already welcomed it.
As a shareholder I hope Shell fail. If there is no other bidder then sure the sp will then fall back somewhat, but imho probably from a loftier level than where it is. But I won't care either way, that is the ST sp story.
I don't think there will be many who held WPL through the Shell saga, and are still holding, who have any regrets, do you?
If you remember WPL at this market cap, was it adding tcf's of gas at this rate? How long did WPL take to get to NET annual production of 1 mmtpa LNG?
EL
AOE Price at posting:
$5.03 Sentiment: LT Buy Disclosure: Held
