note below I see on my Macquarie today (to be honest, some tax needs to be paid or resource extraction tax - but seems govts just lurch back and forth.... ahhhh, govt.... just a bunch of dummies who cannot see past their belly buttons)
2340 GMT - Credit Suisse swings to the view that it's been overestimating the long-term petroleum-resource rent-tax liability on Woodside's existing assets. The investment bank now believes that Pluto, Wheatstone and North West Shelf are unlikely to ever pay any tax. That view is based on a long-term oil price of $70/barrel. If Credit Suisse is right, it could boost Woodside's valuation by as much as A$4.59/share. "We wonder if we could/should see a re-rate of Woodside on this basis as the 'penny drops' that many external valuations of Woodside have been overestimating PRRT for some time." ([email protected]; @dwinningWSJ)
