The basic principle for doing the hedging is that it's fairly heavy oil and they want to basically have early production hedged. They seem to have done quite reasonably.

247

I am from the oil industry and remember when the price was $US10 (a barrel) in 1999 and everyone was saying its going to $US5 (a barrel) ... it was unbelievable to even comprehend a $US50 (a barrel) oil price.

147

The news should not have a material impact on (Woodside's) operations. Contract negotiations are an ongoing part of oil projects that are moving from exploration into development.

129

The figures were a little bit below my numbers but not a whole lot as I'd already taken out a bit on cyclone damage. We're seeing positive commentary on Pluto-3 well and what that encountered, and coupled with higher oil prices the market will probably look through this slightly disappointing result.

90