Past year: ▲ 35%(6.17 – 8.62 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
17 Sept 2007drilling progress report▲ Good
Third-party Pan Pacific update: Maitland-2 (WA-33-R, Santos 18.71%) reached total depth on prognosis with hydrocarbon shows through the reservoir. Coring sidetrack and horizontal Maitland-3H follow, with flow testing about 14 days away.
14 Sept 2007drilling progress report● Neutral
Third-party Drillsearch update: Piniata 1 (Santos 55.5% operator) found only trace oil shows, no pay on logs, and is being plugged and abandoned. Jackson South 13 has oil shows in several formations; logging next. The 2007 Tintaburra drilling program is complete.
12 Sept 2007drilling progress report● Neutral
Third-party Beach weekly report: Hawkins-1 (Santos 66.6%) was plugged and abandoned. Tindilpie-6 was cased as a potential gas producer with about 15 m net gas pay. Callawonga-2 (not Santos) flowed 4,992 bopd.
7 Sept 2007drilling spud● Neutral
Third-party Tap notice repeating the Maitland-2 spud in WA-33-R (Santos 18.71%). Drilling to about 1,400 m, then sidetracks for core and a horizontal section; flow testing expected in roughly 2-3 weeks.
6 Sept 2007drilling progress report● Neutral
Third-party Drillsearch update: Mulberry 34 (Santos 89%) was cased as an oil producer, completing the four-well Mulberry program. Muchacho 1 was plugged and abandoned with no oil recovered on test. Piniata 1 has spudded.
6 Sept 2007drilling spud● Neutral
Third-party Pan Pacific notice: the Maitland-2 appraisal well spudded in WA-33-R, where Santos holds 18.71% and Apache operates. It aims to test the long-undrilled Maitland gas field, found in 1992, with cores and a 500 m horizontal well.
5 Sept 2007drilling progress report● Neutral
Third-party Beach weekly report: Granchio-1 (Santos 66.6%) was cased as an oil producer with oil in two zones. Muchacho-1 was plugged and abandoned after a test recovered only water and a thin oil film. Hawkins-1 and other wells are in progress.
30 Aug 2007drilling progress report▲ Good
Third-party Drillsearch update: Mulberry 33 (Santos 89% operator) was cased as an oil producer, the third of four planned Mulberry directional wells. Muchacho 1 in the Naccowlah block (Santos 55.5%) reached 1459 m with oil shows, logging next.
29 Aug 2007drilling progress report▲ Good
Third-party Beach weekly report: McKinlay-6 (Santos 66.6%) was cased as an oil producer with a 15 m oil column (9 m net pay), upgrading the earlier oil shows. Naccowlah-3 and Scratchy-1 were plugged and abandoned. Callawonga-2 (not Santos) spudded.
28 Aug 2007farm in farm out agreement▲ Good
Third-party Vicpet announcement repeating the 28 Aug Bow-style deal: Santos and Avery letter of intent expands the ATP 752P farm-in from 3 to 7 wells plus 300 km2 of 3D, about $18.5m. Santos becomes operator; Vicpet is carried to 15%. Hudson-1 delayed; two of four initial wells depend on a Santos technical review.
28 Aug 2007drilling result● NeutralMajor
Third-party Tap update: the Fletcher-2 sidetrack in WA-191-P (Santos operator 33.4%) found a 12 m gross (4 m net) oil column, slightly up dip of Fletcher-1, and will be plugged and abandoned. Tap expects a small resource near the wells but the wider Fletcher trend could be significant.
28 Aug 2007farm in farm out agreement▲ GoodMajor
Third-party Bow announcement: Bow signed a letter of intent with Santos and Avery expanding the ATP 752P farm-in (Cooper-Eromanga) from 3 to 7 oil wells plus 300 km2 of 3D seismic, about $18.5m total. Santos becomes operator; Bow is fully carried and ends with 15%.
24 Aug 2007drilling progress report● Neutral
Third-party Drillsearch update: Mulberry 31 (Santos 89%) was cased as an oil producer. Naccowlah 3 (Santos 55.5%) recovered only water on its test and will be plugged and abandoned.
22 Aug 2007drilling progress report● Neutral
Third-party Beach weekly report: McKinlay-5 (Santos 66.6%) was a successful oil well with about 14 m of oil. McKinlay-6 and Scratchy-1 had oil shows, and Naccowlah-3 was abandoned after testing water. Tindilpie-5 was plugged and abandoned.
22 Aug 2007drilling progress report● Neutral
Third-party Tap update: the Fletcher-2 sidetrack in WA-191-P (Santos operator 33.4%) has started drilling about 500 m from Fletcher-1, with total depth expected in about three days. It aims to confirm the structure's size.
17 Aug 2007drilling result▲ GoodMajor
Third-party Tap update: Fletcher-1 (WA-191-P, Santos operator 33.4%) logs confirmed an 8 m oil column with good oil samples, against a pre-drill prediction of 20-30 m. A sidetrack up dip will help establish the size of the accumulation.
16 Aug 2007drilling progress report● Neutral
Third-party Drillsearch update: Mulberry 32 was cased as an oil producer, and Carney South 1 had no oil pay on logs and was plugged and abandoned. Naccowlah 3 (Santos 55.5%) spudded 13 August.
15 Aug 2007drilling progress report● Neutral
Third-party Beach weekly report: Carney South-1 (Santos 55.5%) was plugged and abandoned. McKinlay-5 (Santos 66.6%) showed producible oil at two levels. Naccowlah-3 is drilling. Beach's Bodalla South-18 is being cased as a Hutton producer.
15 Aug 2007drilling result● Neutral
Third-party Tap update: Fletcher-1 (WA-191-P, Santos operator 33.4%) reached total depth with about 3 m of net hydrocarbons in the main target. Logs will be run and a sidetrack is being considered. Tap calls early results encouraging.
9 Aug 2007drilling progress report● Neutral
Third-party Drillsearch update: Takyah 5 (Santos 89%) was cased as a future oil producer. Carney South 1 (Santos 55.5%) had only trace oil shows in the Hutton and is drilling to depth. Mulberry 32, first of four Mulberry wells, spudded.
8 Aug 2007drilling progress report● Neutral
Third-party Beach weekly report: Jena-28 was cased as a Murta oil producer and Tonno-1 (Santos 66.6%) was plugged and abandoned. Carney South-1 is still drilling. Beach's Bodalla South-18 spudded.
7 Aug 2007drilling progress report● Neutral
Third-party Tap update: Santos-operated Fletcher-1 (WA-191-P) was held at 2,103 m by drilling rig well-control equipment problems, now resolved. Drilling resumes 8 August toward about 3,000 m, expected in 5 days. No result yet.
6 Aug 2007drilling result▼ BadMajor
Third-party Tap announcement: Santos-operated Totem-1 (WA-191-P, Santos 33.4%) reached planned depth but is not an oil discovery; any oil is low saturation and not producible. It will be plugged and abandoned, a dry hole near the Amulet discovery.
2 Aug 2007drilling progress report▲ Good
Third-party Drillsearch weekly update: Talgeberry 20 (Santos 89%) cased as an oil producer, and Naccowlah West 21 (Santos 55.5%) found about 5.5 m of net oil pay and was cased for production. Takyah 5 and Carney South 1 are now drilling.
1 Aug 2007drilling progress report▲ Good
Third-party Beach weekly report: Santos-operated Naccowlah West-21 (Santos 55.5%) was cased as a potential oil producer, and Big Lake 17DW1 as a potential gas producer with 22 m of Patchawarra gas pay. Jena-28 found 5.5 m of oil pay.
31 July 2007drilling progress report● Neutral
Third-party Tap update: Santos-operated Fletcher-1 (WA-191-P) was at 2,103 m, preparing to run casing, with total depth expected in 7 days. Totem-1 was at 995 m, drilling ahead. No results yet.
26 July 2007drilling spud● Neutral
Third-party Tap announcement: Santos-operated Totem-1 (WA-191-P) spudded 26 July, about 4 km from the Amulet oil discovery. It targets oil to about 2,000 m, with total depth expected in about 8 days.
26 July 2007drilling progress report● Neutral
Third-party Drillsearch update: Naccowlah West 20 (Santos 55.5%) is cased and suspended for future testing, and Naccowlah West 21 has spudded. Talgeberry 20 (Santos 89%) showed oil and a drill stem test is being prepared.
25 July 2007drilling progress report▼ Bad
Third-party Beach weekly report: Hurricane-2 (Santos-operated, 31.31%) found about 9 m net oil pay, an accumulation judged too small to develop now, and will be plugged and abandoned. Warragon-1 (Santos 4.9%) had Toolachee shows and will be cased and tested.
23 July 2007drilling result● NeutralMajor
Third-party Mosaic update: Hurricane-2 (WA-208P, Santos-operated, 31.31%) found a roughly 20 m gross oil column (about 10 m net pay), a new oil and gas discovery. Mosaic says it is unlikely to be commercial on its own now; the joint venture will review.
