"It also has a highly successful upstream oil and gas exploration and production business in WA and SA as well as coalbed methane development in Queensland," Carmichael said. "We expect earnings to grow from 19.4 cents per share to 21.1 cps in FY2003."
Recently Origin has issued a Joint Venture sanction for the Bassgas project in which it has 37.5% interest with Australian Worldwide Exploration. It has also secured a 57.5% interest in WA-226P, offshore Perth Basin, which contains a large target called Morangie.
As for Woodside Petroleum, which is currently trading at $13.70 per share, Carmichael said it is one of its preferred oil and gas stocks and should trade towards the $15.00 resistance level.
