That stock News

Woodside, who had a market value of a. 35 $ 9bn (￡ 22. 5bn) at end of Monday, operates the project North West Shelf massive Australia-Western representing approximately 40pc of any production of oil and gas in the country.

Shell said it sold Woodside 10pc to a $42.23 by hand in a sale by UBS Investment Bank.

UBS would now should offer stock to institutions, analysts said, adding that the move came as a surprise since the issue could have been offered in one piece to a potential bidder.

"Any potential bidder will need to strain at least up to a$ Rapson for Woodside", said David Lennox, analyst resources to the Prophet of the grease.

Woodside closed flat ahead of the news in a $45.86.

The sale is part of a global effort to improve the efficiency of capital and simplify the group, said the shell.

The investment banks, said last week that Woodside was being eyed as a potential support with its long service Executive Director, Don Voelte due to resign in the second half of 2011, target potentially leave the company exposed to predators.

Pink Woodside shares last week on speculation global miner BHP Billiton BHP.AX may take an eye blow its bid $ 39 billion of the Canada potash had collapsed.

Six equal partners in the joint venture of the North West Shelf are Woodside, BHP Billiton, Chevron, BP, Shell and Japan Australia LNG, which is a company of Mitsubishi Corp. and Mitsui.

Shell is also a partner in the rival Gorgon LNG project operated by Chevron Corporation.

Woodside was not immediately available for comment, whereas Shell has refused to provide additional comments.

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