10 Mar 2006drilling spud● Neutral
Third-party filing by Drillsearch: Mulberry 7, the second well of the Santos-operated Tintaburra program (Santos 89%), spudded 10 March. It targets the Birkhead Formation to about 1,440 m.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
7 Mar 2006drilling result▲ Good
Third-party filing by Drillsearch: Mulberry 6 reached 1,439 m with good oil shows at 1,230-1,248 m in the Birkhead Formation. It extends the Mulberry oil pool 300 m and will be cased as a producer. First result of the 51-well Santos-operated program.
3 Mar 2006drilling progress report● Neutral
Third-party weekly report by Drillsearch: Mulberry 6 (Santos 89% operator) was at 808 m, drilling ahead, after 588 m in the prior 24 hours. The Birkhead target is at about 1,240 m. No result yet.
3 Mar 2006farm in farm out agreement▲ GoodMajor
Third-party filing by Nexus: Santos will earn 37.5% of Gippsland permit VIC/P39(V) and become operator, subject to approvals, by funding part of the Galloway-1 well. The well is planned for Q3 2006, with a mean 28 million barrel target.
1 Mar 2006drilling progress report● Neutral
Third-party weekly report by Drillsearch: Mulberry 6 (Santos 89% operator) was at 220 m with surface casing cemented, testing blowout preventers before drilling ahead. No result yet.
1 Mar 2006drilling result▲ Good
Third-party filing by Sunshine Gas: Latemore 2 (Santos 85% operator) is being cased and suspended after gas flowed from three zones, including a minor basement flow. The rig then moves to a Roma shallow gas pilot program.
28 Feb 2006drilling result▲ Good
Third-party filing by Stuart: Santos-operated Derrilyn 3 (Santos 65%, Stuart 35%) made an oil discovery in the Cadna-owie formation, recovering 14.3 barrels of 43.3 API oil on test. The well will be cased as a future producer; significance is still being evaluated.
27 Feb 2006drilling spud● Neutral
Third-party filing by Drillsearch: Mulberry 6, the first of the 51-well Tintaburra oil program, spudded 27 February after the rig delay. Santos operates with 89%. The target is the Birkhead Formation, with a planned depth of 1,300 m.
24 Feb 2006drilling progress report● Neutral
Third-party filing by Cue: Jeruk-3 (Santos operator, 40.5%) was drilling at 3,322 m on 23 February, towards a planned 5,512 m. No result yet. SE Gobe-12 in Papua New Guinea (Santos subsidiary 9.39%) was at 957 m.
23 Feb 2006resource reserve update▲ GoodMajor
Santos booked a record 122 mmboe of 1P additions in 2005, lifting 1P reserves to 414 mmboe after 56 mmboe of production. 2P reserves rose to 774 mmboe, including 49.6 mmboe 1P from Fairview. Contingent resources rose 37% to 1,971 mmboe.
22 Feb 2006drilling scheduled● Neutral
Third-party filing by Stuart Petroleum: it plans 12 Cooper Basin oil wells by end of May 2006. Santos, operator of the Derrilyn block, spudded Derrilyn 3 on 19 February; Stuart holds 35% there.
17 Feb 2006drilling progress report▲ Good
Third-party filing by Sunshine Gas: the Latemore 2 appraisal well on the Roma Shelf (Santos 85% operator, Sunshine 15%) spudded 11 February. It showed strong gas in the Precipice Sandstone at 1,228 m, with a drill stem test about to run.
17 Feb 2006drilling progress report▼ Bad
Third-party filing by Drillsearch: the start of Mulberry 6, the first well of the Santos-operated Tintaburra program (Santos 89%), is delayed by further rig testing and maintenance. It is now expected to begin 18 February 2006.
14 Feb 2006drilling spud● Neutral
Third-party filing by Comet Ridge: drilling of two shallow core holes (Mira-1, Humboldt-1) began at Mahalo, with Santos as operator. The Mahalo 2 test slips to mid-year as Santos says a different rig is needed. Three wells would earn Comet Ridge 40%, Santos and Origin 30% each.
13 Feb 2006drilling spud● Neutral
Third-party filing by Drillsearch: Santos-operated drilling (89%) of the 51-well Tintaburra oil program is due to start 14 February 2006 with the Mulberry 6 development well. Drillsearch holds 10%.
9 Feb 2006drilling result▼ Bad
Third-party report by Origin: Kyeen Creek 1 (Santos 6.5% before, 5.5% after the well) reached 2,587 m. Tests found low permeability sandstones and only thin hydrocarbon indications. The well is being plugged and abandoned.
1 Feb 2006resource reserve update● Neutral
Third-party filing by Sunshine Gas: it plans 2006 appraisal and coal seam gas wells. Its Roma Shelf interest is about 15%, with Santos holding about 85% as operator. Roma reserve figures are still year-end 2004 because Santos has not issued 2005 data.
27 Jan 2006drilling progress report● Neutral
Third-party weekly drilling report by Origin: Kyeen Creek 1 is drilling in the Surat Basin. Santos holds a minor 6.5% interest, falling to 5.5% after the well. No result yet.
25 Jan 2006drilling scheduled▲ GoodMajor
Santos announced a 25-well, $225m exploration program for 2006, up from $187m spent in 2005. Seventeen wells are outside Australia, including Egypt and the Gulf of Mexico. Lynedoch and Evans Shoal South come later in the year.
24 Jan 2006drilling spud● Neutral
Third-party filing by Cue: the Jeruk-3 appraisal well began drilling 24 January 2006 in the Sampang PSC, with Santos as operator (40.5%). It targets about 5500 m measured depth and is expected to take about 90 days.
20 Jan 2006farm in farm out agreement● Neutral
Third-party filing by Caspian: Santos will not take part in shallow oil layers in four Kyrgyz licences. It stays committed to its farm-in over ten licences, funding up to US$24m over 3.5 years to earn 80%.
20 Jan 2006drilling result▼ BadMajor
Nyari 1, an exploration well offshore East Java (Santos 67.5%, operator), reached 3693 m. The Kujung Formation target was water bearing, with no hydrocarbons. The well will be plugged, and the rig moves to Jeruk 3.
16 Jan 2006drilling scheduled● Neutral
Third-party filing by Drillsearch: Santos, operating with 89%, has a drilling rig assembled for a 51-well oil program in the Tintaburra Block. Drilling is expected to start in late January 2006, with a second rig planned for April.
12 Jan 2006drilling result● Neutral
Third-party report: Currambar-1, the final Nockatunga well, was cased and suspended after both tests failed on packer problems. A later through-casing test is planned. Santos is operator.
5 Jan 2006drilling result▲ Good
Third-party report: Muthero-3 was cased as a future Birkhead oil producer after one test flowed 1030 barrels a day. Currambar-1 spudded 29 December 2005. Santos operates both Nockatunga wells (59.064%).