Slugcatcher digs deeper into the Woodside shake-up

NO one has used the word crisis when discussing the outlook for Australia's premier pure oil and gas company, Woodside Petroleum, but Slugcatcher's interpretation of recent comments from two of the world's top investment banks go all the way up to that worrying word.

Crisis is not to be found in a detailed analysis of Woodside circulated to clients of UBS last Thursday. Nor is the magic word to be found in a Goldman Sachs analysis of 10 days earlier.