Shell is increasing its stake in Woodside to 60% ownership.
The AFR 22/5 page 25 reported;

"Royal Dutch/Shell's long awaited move to take control of Woodside petroleum is just the latest move by the corporation to increase its share of the world's liquefied natural gas industry. With the near-dormant Asian economies beginning to expand, Shell has sensed the urgency of grabbing a stake to cater for the growing energy demand and also to position itself at the head of the queue as it moves towards more greenhouse friendly operations. Shell's global LNG strategy has been to take equity positions of between 15 and 30 percent in a range of projects to give it the best market exposure while limiting its financial risk. Its plan to win control over Woodside, via its cash-free asset-swap deal, is a low-risk strategy that will automatically double its exposure to the North-West Shelf project without increasing its capital risk. Shell Australia already holds a one-sixth interest in the project operated by Woodside, which also holds a one-sixth stake."

This is a development to watch. It's interesting to me since I have been illustrating in the cycles classes since 1991 how gas could be (probably is) the energy source to drive the 5th Kondratieff wave.

Australia is well positioned here, but it looks like the revenue steam will end up with overseas controlled multinationals (what's new); one reason why resource development rarely brings real wealth to the resource host nation.

The value of these gains will also show up in Darwin real estate of course.

There is an excellent Elliott wave pattern down through 1998. I cannot always find these as they happen, and hindsight is a wonderful thing, but you only had to see this in hindsight, as the first higher bottom (marked) could easily have been bought, with a stop under the prior low.