WPL – Deutsche Bank rates the stock as Hold

Though the Q1 report was in line with expectations, the analysts nevertheless anticipate management will lower calendar 2009 production guidance and as such they are happy to retain a Hold recommendation for the shares. The downward production guidance is based on a two month downtime for the company’s Vincent project. The company has lowered capex but still needs extra capital. Deutsche Bank expects some non-core assets to be sold. This should bridge the funding gap, say the analysts. Target lowered to $34.45 from $35.85 previously. Sector: Energy.

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WPL – Citi rates the stock as Buy, Medium Risk

The broker notes comments from Reuters that indicate a debt issuance of yet to be determined quantity was being sounded out in the US. This comes as no surprise to Citi, as the company said only last week that it expected to raise about US$1-$1.7bn in CY09. The broker thinks an issuance in the neighbourhood of US$1bn would be received well by the market, especially as a gas discovery at Martel-1 was also announced. Sector: Energy.

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WPL – Credit Suisse rates the stock as Neutral

Underlying earnings matched the broker’s expectations and the announcement by the company it expects to meet capital requirements from existing and new facilities is a positive, though the broker notes it requires higher oil prices through the year. While the stock is the broker’s least preferred among the large oil plays it suggests the shares have found some sort of base around current levels, meaning no change to its Neutral rating. Sector: Energy.

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WPL – UBS rates the stock as Buy

The group’s production for the December quarter was mixed in the broker’s view and on the back of revised earnings guidance the broker has lowered its price target. A new debt facility should reduce market concerns over an equity issue and with growth from new projects still on offer the broker retains its Buy rating. Sector: Energy.

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Woodside’s Solid 2007 Effort

Oil and gas producer Woodside Petroleum Ltd has maintained its production target for calendar 2008, after reporting a 5% rise in revenue for 2007 and leaving the suggestion in the minds of some in the market that the record oil prices seen in the closing half of 2007 passed the company by.

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Russia About To Announce OPEC Style Gas Cartel?

The Energy & Capital newsletter, published online by Angel Publishing from Phoenix, Arizona, suggests everyone should have April 9 marked on their calendar. Why you ask – simple, on that day it is believed nations such as Russia, Iran, Venezuela, Algeria and Qatar will announce the formation of an OPEC-style organisation based on natural gas, so ending the era of low gas prices.

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