Woodside Petroleum (WPL) Trading Tip

Woodside Petroleum (WPL) have a changed rating from Hold (2M) to a Buy (1M) and a lower share price target of $43.00 (from $43.20) from stock analyst Citigroup Investment Research (CIR). The upgrade in rating comes as the Woodside share price falls and the strong belief of CIR that the underlying long-term story is still intact. There may be a massive reserve uploft in 2007: "A Formal Investment Decision or the signing of a SPA contract at Pluto could see up to 435MMboe of gas migrate to the 2P category taking the EV/boe towards a low US$12/boe." Pluto LNG is on track – "Still expect an FID in mid 2007 and start-up still scheduled for end 2010. Lead items could be ordered in 2007 to mitigate project slippage. Company maintains LNG as core competency in rapidly expanding market." Pluto Capex: " Capex guidance of A$6 billion to A$10 billion for Pluto LNG is consistent with CIR’s forecast of US$6 billion (A$8.2 billion) that has been in place since early in 2006."

Woodside Petroleum Limited is listed on the Australian Stock Exchange (ASX) under stock code WPL. You can view their investor website here. Don Voelte is the Woodside Petroleum CEO and Managing Director. WPL was listed on the ASX on 18 November, 1971. Woodside Petroluem is involved in the Management and operation of hydrocarbon exploration, development, production, transportation and marketing; implementation and operation of the North West Shelf Gas Project; exploration and development of gas, oil and condensate reserves. Find out the meaning of the recommendations in this primer. Browse for other stockbroker recommendations. Other Woodside Petroleum (WPL) news and recommendations. Check your charts and good luck with your share trading!