Ezion

Ezion - Latest possible news which could impact on the counter was 2 wks back, where recall Woodside announced today that it had dumped plans for the controversial $45b project at James Price Point. Grp’s CEO note that decision to dump the plan for James Price Point was tough, saying the project was subject to cost pressures. Grp would not be drawn on the cost estimate of the James Price Point development but said Woodside had tried everything to significantly reduce the budget, including reducing the size of the proposed LNG trains, in an effort to enhance the economics. In the end the costs had not come down sufficiently for the Browse project to be viable.This leaves the future of what was going to be one of Australia's biggest-ever resources projects in limbo. We note that the canning of the massive LNG project in WA will have significant flow-on impact of support industry players. Affected co’s could well include Ausgroup, Civimec and possibly Ezion Seperately also note that SG O&M play's share price have been pretty muted in recent wks, e.g STX OSV, Swiber, Ezra, in-line with a CS report citing that recent weak Oil prices could weigh upon O&M activities in the region.