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To: long-gone who wrote (68120)	4/23/2001 9:20:04 AM
From: Rarebird	Read Replies (3) \| Respond to of 116912

The Australian $$$ got sold off on this news: Shell says Australia loses opportunity to boost LNG market position Monday, April 23, 2001 03:16 AM EDT SYDNEY, Apr 23, 2001 (AFX-Europe via COMTEX) -- Shell Australia said Federal Treasurer Peter Costello's decision block its bid for Woodside Petroleum is disappointing and that Australia is losing an opportunity to improve its position in the global LNG market. Shell is "deeply disappointed that after 100 years of investment in Australia, the government had decided to block its proposal to merge most of its Australian oil and gas assets with Woodside Petroleum Ltd and to increase its shareholding in Woodside," Shell said in a statement. Shell Australia chairman Peter Duncan said the decision represented a significant lost opportunity for Australia to enhance its position in the fiercely competitive global LNG market. "It is disturbing that the intensive campaign to position the merger as against the 'national interest' has succeeded in depriving Woodside shareholders of the benefits of the merger proposal," Duncan said. Shell said it will take the time it needs to digest the decision. Woodside closed down 1.47 aud or 10.53 pct at 12.49. The S&P/ASX 200 closed 2.9 points lower at 3,300.6. lmf/bmm Copyright 2001. AFX News Ltd. All rights reserved. News provided by COMTEX comtexnews.com