9 Nov 2006drilling result▼ Bad
Third-party filing by Drillsearch: Seagoon 1, a near-field exploration well in Santos's Tintaburra block, found oil in tight rock and will be plugged and abandoned. Endeavour 15 was spudded after rig damage delays.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 Nov 2006drilling result● Neutral
Third-party filing by Drillsearch: in Santos's Tintaburra block, Mulberry 18 and Endeavour 12 (both 8 m net pay) were cased as future oil producers. Mulberry 20 had poor reservoir quality. A four-well exploration program starts. Routine drilling.
26 Oct 2006drilling result▲ Good
Third-party filing by Drillsearch: in Santos's Tintaburra block, Mulberry 24 (3 m net pay) and Endeavour 13 (8 m) were cased as future oil producers. Mulberry 18 and Endeavour 12 are finishing. Routine development drilling.
25 Oct 2006drilling result▲ Good
Third-party filing by Mosaic: Churchie West-1 (PL 213; Santos 16.667%) flowed a stable 3.5 million cubic feet of gas a day from the Tinowon Sandstone, to total depth 2,185 m. It is a small discovery, 1.1 km from existing Churchie facilities.
23 Oct 2006drilling progress report● Neutral
Third-party filing by Mosaic: Churchie West-1 (Santos 16.667%) has 7 inch casing cemented at 2,135 m. Nitrogen drilling to 2,178 m is expected to start 24 October. No result yet.
19 Oct 2006drilling result▲ Good
Third-party filing by Drillsearch: in Santos's Tintaburra block, Mulberry 23 (5 m net pay) and Endeavour 16 (6 m) were cased as future oil producers. Mulberry 24 and Endeavour 13 are drilling. Routine development drilling.
17 Oct 2006drilling scheduled● Neutral
Third-party filing by Icon: Santos has put Stitch No.1 in ATP 626P in line for drilling in Q1 2007, the earliest slot available. This is a delay from the earlier timing. Santos earns 50% and operates once the well is drilled.
16 Oct 2006drilling progress report● Neutral
Third-party filing by Mosaic: Churchie West-1 (PL 213; Santos 16.667%) is at 2,124 m, about to run 7 inch casing before nitrogen drilling to 2,178 m. It targets the Tinowon Sandstone. No result yet.
16 Oct 2006farm in farm out agreement● Neutral
Third-party filing by Victoria Petroleum: its joint venture will pay 100% of Tomcat-1 in PPL 93 (Santos operator) to earn 50% of the Wilpinnie North block if commercial. Santos would hold 33.3% after. Santos drills in late December 2006.
12 Oct 2006drilling result▲ Good
Third-party filing by Drillsearch: in Santos's Tintaburra block, Mulberry 22 (4 m net pay) and Endeavour 19 (7 m) were cased as future oil producers. Mulberry 23 and Endeavour 16 are drilling. Routine development drilling continues.
11 Oct 2006drilling progress report● Neutral
Third-party filing by Beach: Glenaire-1 sidetrack (Santos 30%) is at 3,119 m, waiting on rig repairs. Yanda-17 (Santos 55% operator) is cased and suspended after a failed first test. Baryulah-11 and Yanda-18 are drilling. No new Santos result.
9 Oct 2006drilling result▼ Bad
Third-party filing by Cue: Wortel-2 found no reservoir or significant hydrocarbons at 1,421 m and is being plugged. Cue says more appraisal drilling is needed and could happen before year end, depending on rig availability. Repeats Santos's result.
9 Oct 2006drilling result▼ BadMajor
Wortel-2 appraisal well in the Sampang PSC (Santos 40.5% operator) reached 1,421 m and found no significant hydrocarbons in the 'C' fault block, so it will be plugged. Wortel-3 is planned to test the 'B' block after Semangka-1 in the Madura Offshore PSC.
5 Oct 2006drilling result▲ Good
Third-party filing by Drillsearch: in Santos's Tintaburra block, Mulberry 21 found 7 m of net pay and was cased as a future producer. Mulberry 22 and Endeavour 19 are drilling.
4 Oct 2006drilling progress report▼ Bad
Third-party filing by Beach: Glenaire-1 (Santos 30%) is plugged back to 3,028 m and being sidetracked because of deviation problems, after reaching 3,002 m last week. Santos is also operator at Yanda-17 and Diptera-1; no results reported.
29 Sept 2006drilling result▼ Bad
Third-party filing by Drillsearch: in Santos's Tintaburra block, Eulo 1 exploration well found an unproductive reservoir and will be abandoned. Mulberry 21 is being cored. Kooyong 1 is still described as promising.
26 Sept 2006drilling progress report● Neutral
Third-party filing by Beach: Somerton-1 found no hydrocarbons and is being plugged. Glenaire-1 (Santos 30%) reached 3,002 m and 7 inch casing is cemented before the final section. No Santos result yet.
26 Sept 2006drilling spud▲ Good
Third-party filing by Cue: Wortel-2 appraisal well began drilling 26 September 2006 in the Sampang PSC (Santos 40.5% operator). It follows the Wortel-1 gas discovery and is expected to take about 18 days to roughly 1,400 m.
22 Sept 2006farm in farm out agreement▲ GoodMajor
Korea National Oil Corporation (15-25%) and Samsung Corporation (10%) will farm into Santos's Jaguar/Cougar shallow-water Texas exploration project. Santos calls it portfolio management to share exploration risk. Santos's remaining interest and any payment are not stated.
22 Sept 2006drilling scheduled● Neutral
Third-party filing by Mosaic: Churchie West-1 (PL 213; Mosaic 83.333% operator, Santos 16.667%) is expected to start about 8 October 2006. It targets gas/condensate to 2,178 m over roughly 18 days.
21 Sept 2006drilling result● Neutral
Third-party filing by Drillsearch: in Santos's Tintaburra block, Endeavour 14 (11 m pay) and Mulberry 25 (4 m pay) were cased as future water injectors. Mulberry 19 (7 m pay) will be a future oil producer.
21 Sept 2006drilling result▲ GoodMajor
Dua-5X RE in Vietnam Block 12E found multiple gas and oil reservoirs in the southern fault block of the Dua structure, adding to the Dua-4X find. Drill stem testing is being prepared; Blackbird is next. Santos goes to 37.5% once farm-in is approved.
19 Sept 2006drilling progress report● Neutral
Third-party filing by Beach: Kenmore-41 was cased as a future oil producer (Beach 100%, no Santos interest stated). Glenaire-1 (Santos 30%) has drilled to 2,154 m. Somerton-1 spudded. No Glenaire result yet.
15 Sept 2006drilling result● Neutral
Third-party filing by Drillsearch: in Santos's Tintaburra block (Santos 89%), Endeavour 18 found about 9 m of oil pay and was cased as a future producer. Talgeberry 16 was dry and abandoned. Mulberry 25 is drilling.
12 Sept 2006drilling progress report● Neutral
Third-party filing by Beach: Snowden-1 (Cooper Basin, no Santos interest stated) found no hydrocarbons and is being plugged. Glenaire-1 (Santos 30%) has drilled to 448 m. Routine weekly update with no Santos result.
11 Sept 2006drilling result▼ BadMajor
Third-party filing by Pan Pacific: Libris ST-1 reached 3,481 m and logs showed sub-economic oil discoveries in the Upper and Lower Angel Formation. The well will be plugged and abandoned. Santos holds 15%.
11 Sept 2006drilling result▼ Bad
Third-party filing by Tap: Libris-ST1 (Santos 15%) reached 3,481 m and logs indicate a sub-economic oil discovery in the Angel Formation. The well is being plugged and abandoned. Confirms Pan Pacific's report.
8 Sept 2006drilling spud● Neutral
Third-party filing by Beach: Glenaire-1 (PEP 160, Otway Basin) spudded 8 September, targeting a 68 Bcf mean prospect to 3,945 m in about 63 days. Santos holds 30%. This is the well the Galloway-1 rig was moved to.
8 Sept 2006drilling result▲ Good
Third-party filing by Drillsearch: Kooyong 1, a near-field exploration well in Santos's Tintaburra block, found 8 m of net oil pay and was cased as a future producer. Talgeberry 15 was cased as a potential water injector. Two more wells have spudded.
6 Sept 2006drilling progress report● Neutral
Third-party filing by Pan Pacific: Libris-1 (WA-246-P, Santos 15%) reached 3,481 m and will be evaluated over the next 7-10 days. No result yet.