Friday, October 20, 2006

Woodside Slides

Shares in Woodside Petroleum fell on 19 October 2006 after it released its
September-quarter production report. The Australian oil and gas producer
indicated that it might not be able to meet its production target of 72
million barrels of oil equivalent this year.

While this may seem worrying it might actually be a blessing in disguise.
The price of oil has dropped and producing less oil this year might be a
benefit for later years. Only time will tell, it all depends on the
underlying reasons for not making the target.

If this continues to slide a few more dollars it could be a good price.

Good Luck investing

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