Past year: ▲ 35%(6.17 – 8.62 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
3 May 2010drilling progress report● Neutral
ESG's report on PEL 238 (Santos 35%): Edgeroi 2 reached 994.3 m with 3 m of coal in the Hoskissons seam and 1 m in Maules Creek, and Blue Hills 2 spudded 17 April, now at 664.3 m. Reports go monthly while production drilling is paused.
27 Apr 2010production update▼ Bad
Nexus says Santos notified it of off-specification gas from the Longtom field, with low mercury levels, and Longtom production has stopped. Nexus estimates about A$2m and at least two months to install a mercury guard bed if tests are unfavourable. Santos' Patricia Baleen plant processes the gas.
22 Apr 2010quarterly activities report▼ BadMajor
March quarter production was 12.4 mmboe (down 6% on a year earlier), hit by Cooper Basin floods. 2010 production guidance was cut 2 mmboe to 49-52 mmboe and capex guidance lowered from A$2,800m to A$2,600m. Confirms the flood disruption flagged earlier.
15 Apr 2010drilling progress report● Neutral
ESG's bimonthly report: Tintsfield 4H (PEL 238, Santos 35%) reached 1,713 m and is suspended, completing the three-lateral pilot. Bohena 14 intersected 12.1 m net coal, and Edgeroi 2 is preparing a drill stem test. Routine progress.
13 Apr 2010material agreement▲ Good
Santos signed a gas sale agreement with Wesfarmers for up to 60 PJ over more than five years, from 2H 2010. Supply comes solely from Santos' 45% share of John Brookes (WA, Apache operator 55%).
8 Apr 2010production update▼ Bad
Victoria Petroleum says Cooper Basin flooding keeps its Growler, Snatcher and Mirage oil fields shut in, with roads to Moomba not expected to reopen until June/July and September 2010. Not Santos' own asset, but it shows how long the floods are disrupting the Cooper.
1 Apr 2010drilling progress report● Neutral
ESG's bimonthly report: Tintsfield 2H (PEL 238, Santos 35%) reached 1,712 m and is suspended pending completion; Tintsfield 4H spudded 23 March. Milguy 1 lost drill rods at 933 m and was abandoned. Routine pilot progress.
30 Mar 2010annual report● Neutral
Santos' 2009 Sustainability Report covering safety, environment, community and economic performance. Administrative reporting with no new financial or project news in the text provided.
30 Mar 2010annual report● Neutral
Santos' 2009 Annual Report, restating known results: sales revenue A$2,181m, net profit A$434m, production 54.4 mmboe. Describes strategy around GLNG, PNG LNG, Bonaparte and Darwin LNG. No new information beyond the February results.
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.
17 Feb 2010agm notice● Neutral
Santos will hold its 2010 Annual General Meeting at the Adelaide Festival Theatre on Thursday 6 May 2010 at 10.00 am. Administrative notice.
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.
