Past year: ▲ 35%(6.17 – 8.62 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
6 Apr 2011drilling progress report▲ Good
Tap confirms Zola-1 and ST1 (Santos 24.75%) found over 100m of net gas pay in the Mungaroo, with pressure data supporting the discovery. The cyclone did not develop and drilling resumes to final depth. Repeats Santos's announcement.
4 Apr 2011drilling result▲ GoodMajor
Santos announces a gas discovery at Zola-1 (Santos 24.75%, Apache operator), with over 100m of net gas pay over a 400m interval in the Mungaroo. Logging and pressure testing confirmed it; partners will appraise and discuss development. Confirms earlier gas indications.
1 Apr 2011drilling progress report▲ Good
ESG's report on PEL 238 (Santos 35%): Strathmore 2 ST1 reached 546m after a stuck bit, intersecting 15.1m of net Black Jack coal, with permeable tests. Yallambee 2 spudded 21 March. Routine coal seam appraisal.
30 Mar 2011drilling progress report● Neutral
Tap reports the Zola-1 ST1 sidetrack (Santos 24.75%) succeeded and is drilling at 4,696m, with logs planned at about 4,750m. Earlier gas sands and the possible upper-end 1-2 tcf estimate are unchanged. This resolves the stuck-pipe setback.
23 Mar 2011drilling progress report▼ Bad
Tap reports stuck drill pipe at Zola-1 (Santos 24.75%) could not be fully recovered, so the well is being sidetracked as Zola-1 ST1 from 4,203m. Gas sands found to date are unchanged, so the setback is operational, not a result.
16 Mar 2011drilling progress report▲ Good
Tap reports Zola-1 (Santos 24.75%) at 4,759m with gas sands from 4,197m to 4,671m, over 120m thick, and the structure possibly at the upper end of the 1-2 tcf pre-drill range. Drill pipe is stuck; logs still to come.
9 Mar 2011drilling progress report▲ Good
Tap reports Zola-1 (Santos 24.75%) drilled from 4,374m to 4,593m, with over 100m of gas-bearing sandstone now intersected. This builds on the earlier gas indication; full logs are still needed to confirm the gas pay.
9 Mar 2011drilling result▲ Good
Santos's Cuisinier-3 appraisal well (ATP 752P) reached 2,040m and was cased as a potential producer, with five to six metres of net oil pay in the upper Murta Formation. Cased-hole tests within two months will decide whether it is commercial.
2 Mar 2011drilling progress report● Neutral
Beach's February drilling report covers Cooper Basin work, including Santos-operated wells: Kidman North-4 (Beach 20.21%) cased as a future gas producer, and the five-well Cook oil campaign completed, all successful. Routine partner update, no new Santos-level result.
2 Mar 2011drilling progress report● Neutral
Tap reports the expected cyclone did not develop and the Zola-1 rig has been re-manned. Next is sidetrack coring of the top Mungaroo gas sand, then drilling on to about 5,000m. Gas pay extent still to be confirmed.
1 Mar 2011drilling progress report● Neutral
ESG's February report on PEL 238 (Santos 35%): Willala 1 reached 642m with 5.9m of net Black Jack coal, and Strathmore 2 was spudded 9 February. Routine coal seam gas appraisal drilling.
23 Feb 2011drilling progress report▲ GoodMajor
Tap reports Zola-1 (Santos 24.75%) reached 4,374m in the Mungaroo, with limited logs supporting a gas column in sandstones at the top of the formation. The well is suspended ahead of a cyclone. Gas thickness is unconfirmed until full logging.
22 Feb 2011drilling spud● Neutral
Santos, operator of ATP 752P, starts the Cuisinier-3 oil appraisal well, 750m from the Cuisinier-1 discovery, planned to 2,028m in the Cooper Basin. It follows the Cuisinier-1 oil find; targets are the Murta Formation sands.
16 Feb 2011drilling progress report● Neutral
Tap reports Zola-1 (Santos 24.75%) drilling ahead in 8½-inch hole at 4,160m, heading through the Top Mungaroo target to about 4,480m. The earlier 'early next week' target timing has slipped slightly. No result yet.
9 Feb 2011drilling progress report● Neutral
Tap reports Zola-1 (Santos 24.75%) drilled to 4,106m, with intermediate casing run and cemented. The first Mungaroo target at about 4,300m is expected early next week. No hydrocarbon result yet.
9 Feb 2011resource reserve update▲ Good
Beach estimates Santos's 39 mmboe Cooper Basin 2P increase could mean about 12 mmboe net to it, roughly 18% of its booked 2P. This is Beach's own estimate of Santos's figures, not yet independently assessed. It follows Santos's reserves announcement.
8 Feb 2011resource reserve update▲ GoodMajor
Santos lifts year-end 2010 2P reserves to 1,445 mmboe, a 110% replacement ratio and seventh straight annual rise, after 165 mmboe added. GLNG 2P coal seam gas reserves are 5,009 PJ. Henry and Netherby 2P cut 14 mmboe, confirming the earlier Otway downgrade.
3 Feb 2011drilling progress report● Neutral
Tap reports Zola-1 (Santos 24.75%) at 4,020m after a week lost to Cyclone Bianca, with drilling resumed. Intermediate casing is next, then the Mungaroo target. No hydrocarbon result yet.
2 Feb 2011drilling progress report● Neutral
Beach's January report: Santos-operated Coonatie-15 cased as a future gas producer, Tirrawarra-80 suspended as a gas producer, and Cook-18 suspended as an oil producer. Routine Cooper development drilling.
1 Feb 2011drilling progress report● Neutral
ESG's January report on PEL 238 (Santos 35%): Culgoora 2 reached 1,011m with 13.3m of net coal in the Black Jack Formation, and Willala 1 was spudded 24 January. Routine coal seam gas appraisal drilling.
27 Jan 2011drilling progress report● Neutral
Tap reports Zola-1 (Santos 24.75%) drilled from 3,839m to 4,008m before the crew was evacuated ahead of Cyclone Bianca. No hydrocarbon result yet.
20 Jan 2011resource reserve update▼ BadMajor
AWE reports that Santos, operator of the Otway fields Casino, Netherby and Henry, cut initial 2P reserves from 602.5 PJ to 448.5 PJ (100% basis). AWE, with 25%, says contract gas volumes are not expected to be affected.
19 Jan 2011drilling progress report● Neutral
Tap reports Zola-1 (Santos 24.75%) was delayed by a possible cyclone evacuation and sits at 3,839m, with drilling about to resume. No hydrocarbon result yet.
12 Jan 2011drilling progress report● Neutral
Tap reports Zola-1 (Santos 24.75%) drilled to 3,839m, with the rig being secured for a possible cyclone evacuation. No hydrocarbon result yet; the main Mungaroo target is expected near 4,300m, with the well planned to 5,000m.
5 Jan 2011drilling progress report● Neutral
Beach's December report: Santos-operated Tirrawarra-78 cased and suspended as a future gas and oil producer, and Cook-15 and Cook-19 suspended as oil producers. Coonatie-15 is drilling. Routine Cooper development drilling, no change to reserves.
29 Dec 2010drilling progress report● Neutral
Tap reports Zola-1 (Santos 24.75%) has set casing at 3,524m, with drilling on to about 3,976m next. Target depth is now expected in about 22 days. No hydrocarbon result yet.
22 Dec 2010drilling progress report● Neutral
Tap reports Zola-1 (Santos 24.75%) drilled 85m to 3,509m over the week, with intermediate casing still to be set. No hydrocarbon result yet; the well is still planned to about 5,000m.
15 Dec 2010drilling progress report● Neutral
Tap reports Zola-1 (Santos 24.75%) drilled to 3,425m after 20-inch casing was set, with intermediate casing point at 3,500m next. No hydrocarbon result yet reported; target depth is still about 5,000m.
8 Dec 2010drilling progress report● Neutral
Partner Tap reports Zola-1 (WA-290-P, Santos 24.75%) drilled to 1,701m with surface casing run, one week after spudding. No new result; the well is still planned to about 5,000m in 40-50 days.
1 Dec 2010drilling progress report● Neutral
Partner Beach's November report: Coonatie-14 and Tirrawarra-79 (Santos op) were cased and suspended as gas producers. Rain continues to delay Cooper rig moves. Beach's own Encounter-1 shale well is not a Santos asset.
