Past year: ▲ 35%(6.17 – 8.62 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
30 Mar 2010annual report● Neutral
Shareholder Update summarising 2009 for holders who didn't request the full report: net profit A$434m, underlying A$257m, dividend held at 42c, 2P reserves up 42% to 1.44 billion boe. Repeats previously announced figures.
29 Mar 2010asset acquisition disposition● Neutral
Magellan's US regulatory filing on the Evans Shoal purchase from Santos Offshore Pty Ltd: A$100m price plus A$100m contingent payments, and an A$15m escrow deposit paid. Repeats the already announced sale; closing expected 2H 2010. Text is truncated.
26 Mar 2010asset acquisition disposition● Neutral
Magellan's own release on buying Santos' 40% of Evans Shoal: A$100m cash plus A$50m and A$50m contingent payments. It cites a contingent resource above 6.6 TCF, and says Magellan would seek to replace Santos as operator. Closing expected 2H 2010.
26 Mar 2010asset acquisition disposition▲ GoodMajor
Santos agreed to sell its entire 40% operated interest in Evans Shoal (NT/P 48) to Magellan for up to A$200m: A$100m cash, A$50m on a development decision and A$50m on first gas. Completion expected 2H 2010, subject to approvals. Follows the 2009 Petrel/Tern/Frigate sale.
17 Mar 2010drilling progress report● Neutral
Beach's weekly report: Cooper-Eromanga drilling, including Santos-operated Coonatie-16, remains suspended by floods, not expected to resume until mid April to mid May. No new results.
16 Mar 2010drilling progress report● Neutral
ESG's bimonthly report: Tintsfield 3H (PEL 238, Santos 35%) reached 1,492 m with about 450 m of coal intersected and is suspended pending completion. Tintsfield 2H spudded 10 March. Routine pilot progress.
15 Mar 2010material agreement▲ GoodMajor
PNG LNG cleared its final conditions: sales agreements and lender financing are complete and full execution proceeds. Project cost is about US$15bn, Santos' share US$2bn; first LNG 2014. Santos' share is about 9 mmboe a year at plateau.
12 Mar 2010production update▼ Bad
Magellan says Northern Territory buyer Power and Water no longer needs Mereenie gas now that Blacktip supplies flow. Mereenie producers (Magellan and Santos) will end their obligations under the current contract on 5 September 2010.
10 Mar 2010drilling progress report▼ Bad
Beach's weekly report: Cooper Basin drilling, including Santos-operated Coonatie-16, stays suspended after heavy rain and is not expected to resume until mid April to mid May.
4 Mar 2010investor presentation● Neutral
Santos presentation for March international conferences, repeating end-2009 figures (2P 1,440 mmboe, 54.4 mmboe production) and its LNG strategy. It also says asset divestment options are being reviewed and may involve selling production.
3 Mar 2010drilling progress report▲ Good
Beach's weekly report: the NS377-5 pump was commissioned in Egypt (Beach 20%) and the rig released; clean-up flowed 2,500 bfpd. Combined NS377-3/-5 rate over 3,000 bopd expected later this year. Cooper drilling remains suspended.
2 Mar 2010material agreement▲ GoodMajor
PNG LNG (Santos 13.5%) finalised a binding 20-year sale agreement with Taiwan's CPC for about 1.2 mtpa. All of the project's 6.6 mtpa capacity is now committed; lender financing is expected later in March.
1 Mar 2010drilling progress report● Neutral
ESG's bimonthly report: Tintsfield 7 (PEL 238, Santos 35%) reached 870 m with about 7 m of coal and is suspended. Tintsfield 3H spudded 24 February. Routine pilot progress.
25 Feb 2010production update▲ GoodMajor
AWE reports first gas from the Netherby field in VIC/P44 (Santos operator, 50%), ahead of the mid-2010 date. Ramp-up of Henry and Netherby continues. Henry was guided by Santos for first gas in 1H10.
24 Feb 2010drilling progress report● Neutral
Beach's weekly report: the NS377-5 oil well in Egypt (Beach 20%) has been perforated and a pump is being installed. Santos-operated Cooper Basin drilling remains suspended by flooding.
18 Feb 2010annual report● NeutralMajor
Santos reports 2009 net profit A$434m (2008: A$1.7bn, boosted by the GLNG sale), underlying A$257m, on lower prices. Production 54.4 mmboe, cash A$2.2bn, about A$5bn funding capacity. GLNG FID still mid-2010; PNG LNG financial close expected by end March.
18 Feb 2010annual report▼ BadMajor
Santos reported 2009 net profit of A$434m, down 73.7% from 2008's GLNG-sale-boosted result; underlying profit A$257m, down 53.1%. Final dividend 20 cents fully franked, payable 31 March 2010. Preliminary Appendix 4E filing.
18 Feb 2010investor presentation● Neutral
Full-year results presentation repeating the A$434m profit, A$257m underlying profit, 54.4 mmboe production and A$2.2bn cash/A$5.06bn funding capacity. Restates LNG strategy and GLNG FID mid-2010; little new beyond the results release.
17 Feb 2010drilling progress report● Neutral
Beach's weekly report: NS377-5 in Egypt (Beach 20%) reached 2,909 m after a 107 m gross oil column in the Kareem Formation and is being completed as an oil producer. Cooper drilling is suspended by floods.
16 Feb 2010director officer appointment● Neutral
Santos appointed Jane Hemstritch to its board effective immediately. She was Accenture's Managing Director Asia Pacific from 2004 to 2007 and is a non-executive director of Commonwealth Bank and Tabcorp.
16 Feb 2010director officer appointment● Neutral
Formal ASX notice that Jane Hemstritch was appointed a Santos director effective 16 February 2010. Administrative notice of the board appointment announced separately.
10 Feb 2010drilling progress report● Neutral
Beach's weekly report: NS377-5 in Egypt (Beach 20%) hit the top of the Kareem oil column 110 m above the oil-water contact and is drilling ahead at 2,849 m. Cooper well Coonatie-16 is waiting on weather.
8 Feb 2010resource reserve update▲ GoodMajor
Santos's 2P reserves rose 42% (427 mmboe) to a record 1.44 billion boe at end-2009, a 885% replacement ratio. CSG 2P reserves rose 60% to 3,748 PJ, including first Gunnedah bookings of 724 PJ. GLNG 2P reserves are 4,003 PJ.
4 Feb 2010investor presentation● Neutral
Presentation by David Knox to the Melbourne Mining Club on gas's role in powering Asia. It repeats Santos's LNG-led strategy and the Asian demand outlook; the visible text shows no new company figures.
3 Feb 2010drilling progress report● Neutral
Beach's weekly report: NS 377-5 in Egypt is at 2,209 m. Santos-operated Coonatie-17 reached 3,104 m to be cased as a Permian gas producer, and Chi-1 was plugged and abandoned.
2 Feb 2010drilling progress report● Neutral
ESG's bimonthly report: Rosevale 1A (PEL 238, Santos 35%) reached 694 m after intersecting 6.2 m of Hoskissons coal and is preparing a test. Tintsfield 5 spudded 30 January. Routine pilot progress.
1 Feb 2010resource reserve update▲ GoodMajor
ESG's independently certified 2P gas reserves at Narrabri (PEL 238, Santos 35%) rose 152% to 1,520 PJ, beating the 1,300 PJ target. 3P rose to 2,797 PJ. Builds on the Gunnedah CSG position Santos is buying into.
1 Feb 2010farm in farm out agreement▲ Good
Apollo Gas says Santos has elected to proceed to Phase 2 of the PEL 456 farm-in, to earn a further 35% of the CSG rights. Work will test the Brawboy area for a pilot well site. Follows Phase 1's 15%.
27 Jan 2010drilling progress report● Neutral
Beach's weekly report: NS 377-5 in Egypt (Beach 20%) is drilling ahead at 2,011 m. Santos-operated Cooper wells Coonatie-17 and Chi-1 are drilling or preparing a test. No new results.
20 Jan 2010drilling progress report● Neutral
Beach's weekly report: Cooper Basin well Narcoonowie-10 was cased and suspended, with a new-pool oil discovery noted in the mid-Namur Sandstone. Other Santos-operated wells are drilling. NS 377-5 in Egypt is at 920 m.
