You are right. But Woodside are sitting on a huge cash pile with output 9% up on last year to approx 94m barrels - that's a lot of cash. Morocco has potential oil and Gas - Jimmy made some commentary on the gas potential previously. We will drill Morocco next year - our Woodside partner has the ££, the presentations hint strongly at the farmout and our previous non exec chairman is now EVP oil exploration at Woodside .. Nearly there ..and Adonis is buying ..
Chariot Oil & Gas Limited (AIM: CHAR), the Atlantic Margins focused oil and gas exploration company, today announces that Philip Loader, Non-executive Chairman, will become Executive Vice President for Global Exploration for ASX listed Woodside Petroleum Ltd on 1 July 2013 and as a result is required to step down from the Chariot Board.
2:51pm: Woodside Petroleum boosted its full-year target for production for the second time in three months after a strong September quarter, and some analysts are suggesting a major acquisition could on the cards for the Australian oil and gas giant. UBS analyst Nik Burns expects the company to undertake a material acquisition of undeveloped resources, which he says are most likely to contain gas rather than oil. The company is sitting on a growing pile of cash and already has an 80 per cent dividend payout ratio.
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