** Woodside Energy shares WDS.AX fall as much as 3.5% to A$30.43, biggest intraday pct drop since May 25

** ASX 200 .AXJO up 1.9%

** Oil and gas producer exercised pre-emptive right to buy PetroChina's 601857.SS 10.67% stake in Browse gas fields for $225 mln

** Citi ("buy", PT: A$34) says significant engineering, concept optimisation needed ahead of final investment decision

** Brokerage finds risks skewed to the upside on cost inflation, development capex assumptions

** Per recent Reuters reports, capex could be as high as about $35 bln, materially above WDS's 2019 estimate of $20.5 bln - Citi

** Avg WDS rating by 12 analysts is "hold", median PT A$33 - LSEG-compiled data

** YTD, stock up 31.6% vs AXJO flat