Seven West Media Limited is a national multi-platform media business based in Australia.  The Company’s operations include a television network, magazines, newspapers, radio, and Internet.

Seven West Media announced that CEO David Leckie would step down from his role and will be replaced by former Woodside Petroleum CEO Don Voelte.

Mr Leckie who will become and executive director said “It’s time for me to take a career step and I’m looking forward to playing a key role in Seven Group Holdings and further enhancing the company’s media presence”

The company also reaffirmed its guidance for FY12 that underlying EBIT would be between 460 million Australian dollars and $470 million.

   Written by: admin   Other posts from: admin

Woodside Petroleum is Australia’s leading oil and gas exploration company, and is 24% owned by global energy giant Shell Australia.

The company sells natual gas, liquefied natural gas (LNG), crude oil, condensate and liquid petroleum gas (LPG) globally. WPL is considered one the markets blue chip shares.

WPL produces the equivalent of around 65 million barrels of oil a year, much of it from the lucrative North-West Shelf area off the WA coast – the largest LNG field in the country.

The company has significant growth prospects through its Pluto, Browse and Sunrise projects.

Last week Woodside provided an update on its Pluto project, revealing a delay and cost blowout at Pluto.

The shock six-month delay and additional $900 million cost overrun to $14.9 billion for the project saw WPL get smashed.

This pushes gas shipments to Japan from September this year to March 2012.

WPL says the delay has been caused by seven weeks of bad weather and slower than expected progress on the commissioning of the onshore LNG plant.

WPL shares finished Friday’s session down 3.8%.

Click here for FREE Daily Stock Picks

   Written by: admin   Other posts from: admin

Woodside Petroleum (WPL) is Australia’s largest oil and gas explorer and producer, and one of the world’s leading producers of liquefied natural gas (LNG).

Based in Perth, WPL has major operational assets and exploration and development interests in five continents, but predominantly Australia and the United States

WPL was involved in takeover speculation yesterday after BHP Billiton (ASX:BHP) was rumoured to be preparing a $47 billion takeover offer.

News reports suggested that BHP would purchase Shell’s 34% stake, in WPL in return for giving up some of its assets, such as the Sunrise gas field.

According to the reports, BHP would then make a formal offer for all of WPL’s shares once the stake is acquired.

BHP and Woodside Petroleum denied the rumours and it is unclear whether the deal would receive regulatory approval.  WA premier, Colin Burnett, immediately signalled his opposition to any bid.

WPL has been one of the hot stocks in recent weeks, with its gains coming mostly on the BHP takeover rumours.

For more FREE Woodside Petroleum Shares Takeover news and advice, click here.

   Written by: admin   Other posts from: admin

Woodside Petroleum (WPL) is Australia’s largest oil and gas explorer and producer, and one of the world’s leading producers of liquefied natural gas (LNG).

The company is also considered among the blue chip stocks in the Australian share market.

WPL reported its 4Q10 production numbers last week. Production fell 3% from the previous quarter, while revenue increased 2% due to higher commodity prices.

For the year, output declined 10% to 72.7 million barrels of oil equivalent (mmboe) which was line with the company’s guidance of 70 – 75 mmboe.

The group attributed the fall in yearly production to the sale of its interest in the Otway Gas Project and oil-field decline.

WPL confirmed the expected start-up date for its Pluto LNG project in August, while its 2011 production guidance was 63 – 66 mmboe, excluding the contribution from Pluto.

WPL declined 0.6% on the day of its production update.

Keep up to date with share tips and Woodside Petroleum with an Australian Stock Report free trial.

   Written by: admin   Other posts from: admin

Blue chip miner BHP Billiton is the world’s largest diversified resources company and a major player in the commodities market.

BHP is reportedly considering making a takeover offer for US oil giant, Anadarko Petroleum.

The report also indicated BHP considered making an offer for Woodside Petroleum (WPL) last year, but later abandoned the attempt.

Anadarko’s shares have struggled of late, as the company has a stake in the Gulf of Mexico Macondo well which has been the source of the largest oil spill in US history.

Australian share price for BHP finished up one cent last Friday to $38.33.

To get daily stock recommendations and analysis sign up for a free trial.

   Written by: admin   Other posts from: admin

In stock market research, an important consideration in selecting resource stocks is the company’s production numbers.

Woodside Petroleum (WPL) is one such company who recently reported its production numbers.

WPL’s 1Q10 production declined 7% on-year, but revenue jumped 43% in the same period due to higher oil prices.

WPL attributed the drop in production to the 46 day planned maintenance outage at Stybarrow, the sale of its Otway assets, and a natural decline in oil production.

WPL did report strong LNG production at the North West Shelf Venture, which should account for the natural decline in oil production.

Although it didn’t report any major development at its Pluto LNG project, WPL advised that the project is on track to deliver LNG in early 2011.

WPL also advised that it expects to make an investment decision on Pluto expansion by the end of 2010, subject to exploration success.

WPL did not provide FY guidance, however it has historically delayed providing guidance when releasing production results.

For stock market research, not only would WPL’s recent production numbers be important, but also its guidance as markets are generally forward looking indicators.

Therefore, an astute investor would keep their eye out for when WPL releases its full year guidance before forming an assessment of its outlook.

   Written by: admin   Other posts from: admin

Santos Ltd (STO) is currently one of the hot stocks to watch. A leading gas producer in Australia, it has an interest in operations overseas and supplies natural gas to Australia and Asia.

Rumors emerged today that Woodside Petroleum (WPL) is preparing a $15 billion takeover offer for Santos Ltd (STO).

Reports state that WPL is looking to gain access to Santos’ LNG projects in Queensland and Papua New Guinea.

However, analysts believe the rumor is highly speculative given that WPL already has a significant number of high-quality, large-scale LNG projects in its pipeline.

STO shares were up almost 5% on the rumors at one stage, before Woodside and Santos poured cold water on the story.

Santos eventually closed the session with a 2.7% gain.

   Written by: admin   Other posts from: admin

Despite a slow start, the Aussie stock market finished last week comfortably in positive territory.

The market put on 54 points (+1.1%) for the week, to close at 4872.

The info-tech sector led the week’s gains, with telcos and energy stocks not far behind.

Computershare (CPU) and Iress Technology (IRE) sparked the info-tech sector, with CPU rising 3.9%, and IRE soaring 4.3%.

Telstra’s (TLS) share price surged 3.6% for the week, after the Federal government delayed the debate to split it up until May.

Arrow Energy (AOE) was placed in a trading halt on Friday on speculation that Royal Dutch Shell and PetroChina would sweeten their takeover offer.  AOE’s share price rose 1.7% for the week.

Other energy stocks also recorded decent gains for the week.  Oil Search (OSH) rocketed 4.7%, and Woodside Petroleum (WPL) climbed 2.9%.

Stock market giant Rio Tinto (RIO) and Chinalco signed a US$1.35 billion agreement on Friday to jointly develop the Simandou mine in Guinea.  RIO inched 0.3% higher for the week, and BHP Billition (BHP) advanced 0.8%.

David Jones (DJS) announced a 10.2% jump in 1H10 profit, however a cautious sales outlook saw its share price sink 4.7%.  Rival Myer Holdings (MYR) slumped 3.7%.

Among consumer staples stocks, Metcash (MTS) announced the closure of its Campbells Cash & Carry business.  Its share price dipped 1.2%, Wesfarmers (WES) declined 0.6%, whilst Woolworths (WOW) advanced 1%.

The financial sector also edged higher, with Australia and New Zealand Bank (ANZ) jumping 3.5%, and Westpac Banking Corporation (WBC) gaining 2% for the week.

The major economic news for the week that impacted the stock market was the RBA’s minutes for March.  The central bank noted that the Australian economy is on track to achieve trend growth in the next two years.

   Written by: admin   Other posts from: admin