woody gets apple with the worm

Woodside profits down after African losses

Wednesday February 20, 2008, 3:10 pm




Australia's second-largest gas and oil producer, Woodside Petroleum, has reported its half-year profit is down after the company recorded a loss on significant assets.

Profit in the six months to December fell 28 per cent on the same period the year before, to $1.03 billion.

Woodside has realised a $233 million loss on the sale of its Mauritania assets in north Africa and has also been hit by the higher Australian dollar.

But the company has delivered a good outlook, forecasting higher reserves and saying full-year production should increase by 22 per cent


Hi to all the old timers thought I would reminisce of what might have been !! Mauritania had so much promise we were going to millionaires and it turns out to be a dud.

Tullow got Uganda and I cut my losses an ran ! shoulda stuck with Tullow I see oil is $100 a barrel.

No more oil stocks for me but I must still be a gambler its in my blood ! I'm going for the 10 bagger that I never got with Hardman on a stock called CDU.

They say its an elephant in copper !! just hope its not a Tiof like spaghetti bowl.

Cheers Hoot