WPL 0.36% $33.37 woodside petroleum ltd

*** wpl/hdr - be careful - why all the excitement!

  1. 346 Posts.

    See below commentary on WPL/HDR and today's headlines in newspapers, etc. There is NOTHING NEW TO THE MARKET HERE. Do not get sucked in! Check WPL share price, it has done virtually nothing since the announcement yesterday at lunchtime - why? The institutional players are smarter than this. A lot of upside has already been factored into the potential of the upcoming drilling. If the market disappoints, expect the prices to come back down a fair bit over an above the premiums built into the prices. There has been nothing new for some time in terms of real commercial capability and forecasts only "potential". I like the story long term, but it probably has exceeded fair value in the near term by around 5-7% on WPL and 20-25% on HDR until there is some clear drilling success (if there is). Selling the current hype is probably not a bad idea.

    Woodside revealed work was continuing on finalising the prospective drilling list. It said that the exploration wells to be drilled in PSC Areas A and B were expected to include the Tevet, Capitaine and Merou prospects with additional wells yet to be confirmed.

    Energy junior Hardman Resources Limited (HDR) confirmed details of the drilling program in its own statement to the ASX today.

    The company said the campaign would utilize two deepwater drilling rigs, which would operate in water depths ranging from 300 meters to 1,700 meters.

    Hardman managing director Mr Ted Ellyard said the program would be the largest drill program to be conducted in Mauritania.

    "The commitment of two drill ships for a long duration is an indication of the joint venture's view of the potential of the basin," Mr Ellyard said.
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Mkt cap ! $31.33B
Open High Low Value Volume
$33.32 $33.43 $33.30 $5.925M 177.5K

Buyers (Bids)

No. Vol. Price($)
5 340 $33.36

Sellers (Offers)

Price($) Vol. No.
$33.37 831 9
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Last trade - 10.44am 21/02/2020 (20 minute delay) ?
0.120 ( 0.24 %)
Open High Low Volume
$33.33 $33.43 $33.25 40091
Last updated 11.03am 21/02/2020 (live) ?
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