Past year: ▲ 35%(6.17 – 8.62 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
7 July 2010drilling progress report● Neutral
Beach's June report said Santos-operated Inca-1 (Beach 30%) was cased and suspended as a future oil producer, and Watson West-1 (Santos 56%, Beach 38%) spudded on 5 July. Coonatie-16 was cased, and Coonatie-19 and -20 were drilling. Beach now reports monthly.
1 July 2010production update▲ Good
Nexus says an A$2.1m mercury-removal facility has been agreed with Santos for its Patricia Baleen plant, with Longtom gas production targeted to resume in late September. Up to A$3.9m more may be needed. Resolves the shut-in with a schedule, and gives costs.
1 July 2010drilling progress report● Neutral
ESG's monthly report: Baradine Creek 1 (PEL 434) has intersected about 3.5 m of coal at 554 m, and Camurra 2 (PEL 6) about 6.4 m of coal at 902 m. Santos holds 35% of PEL 434 and, per the About ESG section, of PEL 238.
23 June 2010drilling progress report● Neutral
Beach's weekly report: Santos-operated Inca-1 (Beach 30%) is drilling at 1,766 m, and Coonatie-17 is being cased as a future Permian gas producer. Beach's own shale gas wells are delayed, and it will now report drilling monthly.
16 June 2010drilling progress report● Neutral
Beach's weekly report: Genoa North-2 (Santos operator, Beach 30%) was cased and suspended as a future oil producer, and the rig moved to the Inca-1 oil exploration well. Coonatie-16 and -17 gas wells in PPL 131 (Santos 72.32%) are due to resume.
15 June 2010drilling result● Neutral
Apache's sole-risk Bath-1 well in TL/2 (Santos 15%, not participating) found no significant hydrocarbons in its main target, but found oil in the shallower Taunton reservoir. Apache is now drilling Laurel-1 in TP/7 (Santos 18.71%), also without Santos.
15 June 2010drilling result● Neutral
Pan Pacific repeats the Tap news: Apache's sole-risk Bath-1 (TL/2) found no significant hydrocarbons in its main target but did find oil in the shallower Taunton reservoir. Laurel-1 in TP/7 has started, with Santos (18.71%) and Pan Pacific not participating.
10 June 2010investor presentation● Neutral
David Knox's address to the Australian Institute of Energy promotes gas as Australia's 'AAA' advantage and the Cooper Basin's remaining potential. Advocacy and background with no new project figures in the text provided (truncated).
10 June 2010asset acquisition disposition▲ Good
Magellan says Australia's FIRB has no objection to its purchase of Santos's 40% of Evans Shoal (NT/P48), which was announced in March. Closing, still subject to other approvals, is targeted for late 2010.
9 June 2010joint venture update▲ Good
Carbon Minerals says Santos exercised its option, effective 8 June, to carry out the pilot farm-in work in PELs 1 and 12, earning a further 40% by spending at least A$30m within 24 months. Follows the dispute settlement of 4 June; Santos holds 25% now.
9 June 2010production update▲ Good
Bow Energy (20% of ATP 752P) says Cuisinier-1, operated by Santos, began oil production at the end of May at about 340 bbl/d, as part of a long-term production test. Repeats the Vicpet announcement of the same well.
9 June 2010drilling progress report● Neutral
Beach's weekly report: Genoa North-2 (Santos operator, Beach 30%) spudded 3 June and is drilling at 1,811 m. Follows the Genoa-3 oil development well. The rest of the report covers a Beach US well.
8 June 2010joint venture update● Neutral
Carbon Minerals says the independent geologist issued his findings on 4 June, and Santos and ACM are now bound to his recommended phase 2 pilot program in PELs 1 and 12. Resolves the dispute flagged on 14 May.
8 June 2010production update▲ Good
Victoria Petroleum says the Cuisinier-1 oil discovery in ATP 752P (Cooper Basin, Qld), farmed in with Santos, is producing about 340 bbl/d, trucked to Jackson. Santos is the operator per Bow's release; Vicpet holds 20.37%. Santos's own stake is not stated in this text.
3 June 2010investor presentation● Neutral
David Knox's UBS conference presentation restates the growth strategy: GLNG final investment decision in 2010 with first LNG in 2014, PNG LNG first LNG mid-2014, Chim Sao first oil 2H11. No new figures; includes the Queensland EIS approval already announced.
2 June 2010regulatory community update● Neutral
Apollo Gas notes a NSW Government-funded 220 km seismic survey crossing part of PEL 456, where Santos is its farm-in partner. Results are expected by December 2010. Public research data, not a Santos result.
2 June 2010drilling progress report● Neutral
Beach's weekly report: Genoa-3 is cased and suspended as a future oil producer, and the Ensign 18 rig is moving to the Genoa North-2 oil appraisal well, about 3 km north (Santos operator, Beach 30%).
1 June 2010drilling result▲ Good
ESG reports Edgeroi 2 (1,056 m) found 18.1 m in the Maules Creek Formation and Blue Hills 2 (1,073 m) found 13.5 m, in PEL 238 (Santos 35%). Both rigs are released and waiting on roads to dry.
31 May 2010drilling spud● Neutral
Apollo Gas says Phase 2 drilling in PEL 456 has begun, with Santos operating and holding 15% from Phase 1. Cuan-1 spudded 20 May (target 1,350 m) and Brawboy-2 starts 29 May (about 1,000 m). Follows Santos electing Phase 2.
28 May 2010regulatory community update▲ GoodMajor
GLNG won Queensland environmental approval, the first for a coal seam gas to LNG project in Australia, covering 2,650 wells, a 435-km pipeline and up to three trains. Federal approval is still needed before a final investment decision this year; partners flag concern over the proposed resources tax.
26 May 2010drilling result▲ Good
Genoa-3 (Santos 70%, Beach 30%, PL 68) reached 1,786 m and is being cased and suspended as a future Hutton Sandstone oil producer. A modest development well result.
24 May 2010drilling spud● Neutral
Tap says operator Apache has started the Bath-1 exploration well in TL/2 (offshore Carnarvon Basin) on a sole-risk basis after partners declined. Santos holds 15% via Santos (BOL) per the participant list, so it is not participating; partners can back in on a discovery with a penalty.
24 May 2010drilling spud● Neutral
Pan Pacific Petroleum confirms Apache has begun drilling Bath-1 in TL/2 on a sole-risk basis, with partners including Santos (15%) not participating. Repeats the Tap announcement.
19 May 2010investor presentation● Neutral
David Knox's APPEA speech argues natural gas is Australia's 'AAA' advantage (abundant, affordable, available). He says coal seam gas LNG needs certainty on the tax regime before major projects proceed. Advocacy, with no new project figures in the text provided.
19 May 2010drilling spud▲ Good
Santos-operated Genoa-3 oil development well (Santos 70%, Beach 30%) spudded 18 May in the Cooper Basin. Beach says it marks the return of drilling after the floods, with all three Santos rigs expected back by end June.
14 May 2010joint venture update▼ Bad
Carbon Minerals reports it and Santos (25% and operator, PELs 1 and 12, Gunnedah Basin) could not formalise the phase 2 pilot work program agreed in principle, so an independent consulting geologist will decide. A minor dispute in a small Santos farm-in.
14 May 2010contract award▲ GoodMajor
Santos named Fluor Australia preferred EPC contractor for GLNG's upstream facilities and extended Fluor's design contract with about A$50m of early works. A full EPC contract is expected only after a final investment decision; first LNG remains 2014.
12 May 2010production update▼ Bad
Nexus says Longtom-3 samples also contain mercury, so the field stays shut in until mercury removal equipment is installed at Santos' Patricia Baleen plant. Santos cannot yet give cost or timing, extending the earlier outage with no restart date.
6 May 2010agm notice● Neutral
All five AGM resolutions passed on a show of hands: re-election of Ken Dean, election of Greg Martin and Jane Hemstritch, the remuneration report, and share acquisition rights for CEO David Knox. Administrative outcome.
6 May 2010agm notice● Neutral
Chairman Peter Coates's first AGM address and CEO address, mostly reviewing known 2009 results: production 54.4 mmboe, revenue A$2,181m, profit A$434m, 42c dividend held, A$3bn equity raised. The text provided is truncated, so any new material is not visible.
