Monday, December 19, 2011

Woodside never at Walmadan James Price Point

Woodside Energy announcement to the Australian Stock Exchange today:

Mon, 19 Dec 2011 08:45:00 +1000 13 hours, 35 minutes ago

ASX Announcement Monday, 19 December 2011 WOODSIDE TO SEEK VARIATION TO BROWSE RETENTION LEASES Woodside advises that it intends to seek amendments to its Browse Basin retention leases, including a request to vary the condition relating to readiness for a final investment decision. The participants in the Browse Joint Venture are currently engaged in discussions on the final nature of this planned request for amendments. The request for amendments will be made to the Joint Authority and the WA Minister for Mines and Petroleum at the conclusion of these discussions.

The current Browse Basin retention leases require the lessees to be in a position to consider a final investment decision by mid 2012. Woodside believes an extension into the first half of 2013 may be required. While the joint venture has to date met the schedule imposed by the retention lease conditions, the variation would allow time to better evaluate the outcomes of front-end engineering and design work and the results of the tender processes for the development’s major contracts.

The revised timetable would also allow more time to complete necessary assurance activities. Contacts: MEDIA Laura Lunt W: +61 8 9348 6874 M: +61 418 917 609 E: INVESTORS Jeremy Hams W: +61 8 9348 6290 M: +61 412 288 781 E:

As predicted by those on the money the Financial Investment Day has been adjourned to 2013, and for Western Australians, around about the time the State Government will go to the polls. The Opposition Leader Ripper got it completely wrong today about the delay in approvals. The protest has documented the lack of transparency and honesty by this State's Government on approvals, licences, permits, registrations,the dumbing down of previously creditable Government Departments and Authorities and the control that Mr Barnett has used to sell this project. If the State Government worked any faster the plant would already be built with NO approvals. Mr Ripper would do well to read the fine print of the Commonwealth State Strategic Assessment Agreement he signed with Peter Garrett in 2008. The community consultation, information and advice has been appalling and there has been no free prior informed Traditional Owner consent, proper research into alternative sites has not been completed and nor have the Social Impact Assessment criteria been developed. Mr Ripper might like to take up the argument about the quality of approvals and processes not their speed. And he's a numbers man, perhaps he should ask why the State has no business case for this project and why no economic modelling for business has been done for the economy/infrastructure of Broome and the region?

Also, as predicted, are delays associated with the Front End Engineering and Design. More from Redhand later on the engineering but suffice to say you can't build a gas plant on an old riverbed just like you can't build the new sports stadium on an old rubbish dump at Burswood.

Julia Gillard needs to do a bit of a probity test on the retention leases issue, how did Ferguson get away with this? An independent public inquiry into that must happen.

And that Woodside also "...complete necessary assurance activities." now the details of those and who provides them will be interesting?

14 September, 2011 - Blockade on Manari Road

Woodside will not get a social licence to operate.

Hands off country

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