Woodside Petroleum chief executive Peter Coleman feels no urgency to put forward a higher bid in the company's $11.6 billion takeover tussle for Oil Search , or to sweeten the offer with cash. Speaking for the first time on Woodside's rebuffed scrip-based approach for the Papua New Guinea oil and gas player, Mr Coleman robustly defended the one-for-four share proposal that was rejected by Oil Search's board, which described it as with "little merit" and "grossly undervalues" the company.