"I want to do an action-musical," says Woo, who's keen to sign Jackman after he wowed Broadway audiences with his all singing, all dancing portrayal of flamboyant entertainer Peter Allen.
"I have dreamed about doing it for seven years," says Woo, who grew up watching musicals in cinemas in Hong Kong.
"It's an American gangster movie and is about a gangster who is also a good dancer. It is not a singing movie, but there is dancing and action.
"We are working on the script and it's almost done." Woo's certainly no stranger to Australia, having spent almost a year in Sydney shooting Mission: Impossible II in 1999/2000.