Past year: ▲ 35%(6.17 – 8.62 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
15 Jan 2010drilling progress report● Neutral
ESG says wet weather suspended Narrabri drilling (PEL 238, Santos 35%). Dewhurst 16H reached 2,106 m and is suspended pending completion; Gwydir 1 hit 4 m of coal and was plugged and abandoned. Routine, with delays.
13 Jan 2010drilling progress report● Neutral
Beach's weekly report: NS 377-5 in Egypt (Beach 20%) spudded 12 January and the Teen NS 377-4 exploration well was plugged and abandoned. Santos-operated Cooper development wells are drilling ahead.
11 Jan 2010joint venture update● Neutral
GLNG says it is in talks with several Asian LNG buyers, including possible equity stakes in GLNG bought from Santos. The option for an extra 1 mtpa to PETRONAS is extended to the first-train FID, now due mid-2010 (earlier guidance said 1H 2010).
6 Jan 2010drilling progress report● Neutral
Beach's weekly report: the NS 377-5 Egypt oil development well (Beach 20%) is rigging up. Santos-operated Cooper wells Mettika-6, Tickalara-22 and others are being cased and suspended. No new significant result.
4 Jan 2010director officer appointment● Neutral
Formal ASX notice that Stephen Gerlach retired as a Santos director on 31 December 2009, as previously flagged when he stepped down as chair on 9 December. Administrative.
24 Dec 2009asset acquisition disposition▲ Good
Magellan's filing says it sold its 41% of the Nockatunga oil fields to Santos QNT for A$6.3m, completed 22 December. Santos already held the other 59%, so it now owns the fields outright. Small deal.
23 Dec 2009drilling progress report▲ Good
Beach's weekly report: Cooper Basin oil wells Narcoonowie-8 and Tickalara-21 were cased and suspended as oil producers, with Narcoonowie-8 flowing 50.4 barrels of oil in a 4-hour test. Santos-operated development wells; modest, routine results.
22 Dec 2009farm in farm out completion● Neutral
Apollo Gas says Santos finished Phase 1 of its PEL 456 farm-in and earned 15% of the CSG rights, after drilling three coreholes totalling 3,326 m. Brawboy-1 was encouraging, while Rouchel Rouchel-2 and Oakdale-1 had high CO2. Santos has until 22 January 2010 to elect Phase 2 for a further 35%.
22 Dec 2009material agreement▲ Good
PNG LNG participants signed a binding 20-year sale agreement with Osaka Gas for about 1.5 mtpa of LNG. Santos holds 13.5%. Together with the Sinopec and TEPCO deals, it adds to the contracted sales ahead of financial close.
22 Dec 2009flow test result▲ Good
ESG says gas from the Bibblewindi West tri-lateral pilot in Narrabri PEL 238 (Santos 35%) is now above 2 million cubic feet a day, one month after dewatering began. Early-stage result that supports the reserve upgrade target for the project.
21 Dec 2009contract award▲ Good
Clough says funding has been released for the Clough Curtain JV to carry out the full scope of its PNG LNG upstream infrastructure contract, about A$650m in total, awarded 1 May 2009. Santos holds 13.5% of the project. Follows the FID.
16 Dec 2009drilling progress report● Neutral
Beach's weekly report: the Paralana-2 geothermal well was cased to 3,725 m and the rig released, with evaluation to continue in 2010. Santos-operated Cooper wells are drilling. No Santos results of note.
16 Dec 2009drilling progress report● Neutral
ESG's bimonthly report on Narrabri PEL 238 (Santos 35%): Dewhurst 17H reached 2,048 m and connected to Dewhurst 14, and 16H is drilling at 1,277 m. Rosevale 1A and Gwydir 1 continue. Routine pilot progress.
10 Dec 2009investor presentation● Neutral
Santos re-released its 9 December investor presentation, adding slide 98 on guidance, which was accidentally left out. The rest of the presentation is unchanged. The text provided does not show the guidance figures.
9 Dec 2009director officer appointment● NeutralMajor
Formal ASX notice that Stephen Gerlach has stepped down as chair, effective 9 December, with Peter Coates taking over. This is earlier than the 31 December date previously flagged for the handover.
9 Dec 2009director officer appointment● Neutral
Gerlach steps down as chairman after eight years in the role and 20 as a director, and Peter Coates becomes chairman immediately. Gerlach stays on the board until 31 December. Follows the transition announced on 31 March 2009.
9 Dec 2009investor presentation● Neutral
Santos's 2009 investor seminar, titled 'Delivering Transformational Growth', sets out its LNG-led strategy and Asian gas demand outlook. The text provided is truncated and shows mainly market background, with no new figures visible.
9 Dec 2009contract award▲ Good
Clough says the PNG LNG operator approved a contract worth over US$1bn for the CBI Clough JV to build the gas conditioning plant, pending final authorisations. Santos is a 13.5% participant. Follows the project FID of 8 December.
8 Dec 2009farm in farm out completion▲ GoodMajor
PNG LNG co-venturers took final investment decision on 8 Dec, subject to buyer agreements and financing. Santos's share falls to 13.5% after PNG government nominees join; its share of cost is US$2bn. 218 mmboe moves to 2P reserves (+22%); about 9 mmboe a year at plateau. Resolves the pending FID.
8 Dec 2009material agreement● Neutral
Panax Geothermal says it signed a non-binding MOU with Santos on its Tirrawarra geothermal licence in the Moomba region. Santos 'may consider' buying renewable power for its Moomba field operations. No commitment or dollar value stated.
7 Dec 2009material agreement▲ GoodMajor
Oil Search forwards ExxonMobil's release: PNG LNG participants signed a binding 20-year agreement with TEPCO for about 1.8 mtpa of LNG, following the Sinopec deal. Santos holds 17.7% of the project. Same event for Santos' own story.
7 Dec 2009material agreement▲ Good
Santos announces PNG LNG (Santos 17.7% at the time) signed a binding 20-year sale agreement with TEPCO for about 1.8 mtpa of LNG. Same TEPCO deal already noted from Oil Search's forwarding on 7 December; no new terms.
4 Dec 2009material agreement▲ GoodMajor
Santos announces PNG LNG (Santos 17.7%) finalised a binding 20-year sale agreement with Sinopec's Unipec for about 2.0 mtpa of LNG, for a terminal in Shandong. This converts the 4 November Heads of Agreement into a binding contract.
2 Dec 2009drilling progress report● Neutral
Beach's weekly report: Santos-operated Dullingari-36DW1 reached 2,607 m and is being cased as a future Patchawarra gas producer. Beach says the Teen well in Egypt will spud 4 December with no further results released. Routine for Santos.
1 Dec 2009drilling progress report● Neutral
ESG's update on Narrabri PEL 238 (Santos 35%): Dewhurst 18H reached 2,035 m and connected to the Dewhurst 15 vertical well. Dewhurst 17H is drilling, and Rosevale 1 was redrilled as 1A after a casing obstruction. Routine pilot progress.
25 Nov 2009drilling progress report● Neutral
Beach's weekly report said production testing of Egypt's NS377-3 was complete, with flow constrained to about 1,400 bbl/d. Full production is still expected in Q2 2010, as predicted earlier, and the rig moved to the Teen exploration well. Santos-operated Dullingari-36DW1 was drilling.
23 Nov 2009drilling result▲ Good
Drillsearch reports Santos-operated Ipundu North-13 (Tintaburra, Santos 89%) found about 7 m of oil pay in the Birkhead Formation plus up to 1.5 m in the Murta. It will be cased as a future producer. Preliminary interpretation; testing to follow.
18 Nov 2009drilling progress report● Neutral
Beach's weekly report: no Santos results of note. Santos-operated Dullingari-40DW1 (2,623 m) is cased and suspended as a future gas producer. Beach-operated Chiton-1 flowed 2,434 bbl/d of oil in a short test. NS 394-3 was plugged and abandoned.
16 Nov 2009drilling progress report▲ Good
ESG's update on Narrabri PEL 238 (Santos 35%): Dewhurst 14 and 13 have 11.4 m and about 11 m of Bohena coal and await laterals; Dewhurst 11 hit 22.6 m of Bohena coal. Lateral drilling at Dewhurst 18H began. Routine.
12 Nov 2009drilling result▲ Good
Drillsearch reports Santos-operated Ipundu-16 in the Tintaburra Block (Santos 89%) was drilled successfully and will be cased as a future oil producer. Ipundu North-13 is next. Resolves the well that started on 8 November.
