The Motley Fool

Woodside Petroleum Limited (ASX:WPL) jumps on Bedout Basin bandwagon

Small-cap oiler Carnarvon Petroleum Limited (ASX: CVN) last week reported a “significant” oil discovery in the Caley Sandstone interval during the Dorado-1 well drilling campaign off the Western Australian coast, which saw its share price jump 135% from 14c per share on July 11 to close off Friday trade at 33c.

An article in The Australian on July 20 saw Woodside Petroleum Limited (ASX: WPL) chief commenting that the Carnarvon find “enthuses our explorers” – Woodside has acreage in the same basin.

According to Woodside’s second-quarter report for the period ended June 30 2018, its Ferrand-1 exploration well in Western Australia intersected a 69m gross gas column that the company is assessing for its viability.

Also in the energy space, Oil Search Limited (ASX: OSH) shares have surged upwards of the back of news PNG LNG, which Oil Search has a 29% interest in, has entered into a purchase agreement with PetroChina for LNG supply – commencing this month.

Santos Ltd (ASX: STO) and Beach Energy Ltd (ASX: BPT) are hoping for a better run this week after closing off last week in the red.

4 Stocks for Building Wealth After 50

Renowned investor Scott Phillips just released a brand-new report detailing his 4 favourite stocks to buy right now.

And I don’t know about you, but I always pay attention when some of the best investors in the world give me a stock tip.

This is your chance to get in at the very beginning of what could prove to be very special investments.

Click here to get started today!

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

NEW. Five Cheap and Good Stocks to Buy in 2019…

Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.8% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.