Past year: ▲ 35%(6.17 – 8.62 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
6 Apr 2009asset acquisition disposition● Neutral
Mosaic Oil's presentation repeats its purchase of Santos' Churchie and Surat-Bowen interests for A$7.0m (A$3m on completion, balance to Sep 2010). It adds acquired 2P reserves of 29.6 PJ gas and production of 2.0 TJ/d. Nothing new on Santos' side.
1 Apr 2009drilling progress report● Neutral
Beach reported the South July-1 sidetrack in Egypt at 3,386 m, running in hole with a new bottom-hole assembly; Santos is not in the sidetrack. In the Cooper Basin, Tindilpie-7 was cased and suspended as a future gas producer, while Nephrite South-5 was drilling ahead at 3,060 m.
31 Mar 2009annual report● Neutral
Santos released its 2008 Sustainability Report on safety, environment, community and governance performance. The visible text is introductory material and company background, with no new financial or operational figures.
31 Mar 2009security holder rights change● Neutral
Santos set the FUELS dividend rate at 3.2293% a year for 31 March to 29 September 2009, down from 6.0142%. It is 1.55% above the 180-day bank bill rate of 3.0633%. Routine rate reset.
31 Mar 2009regulatory community update▲ GoodMajor
Santos submitted its draft Environmental Impact Statement for the Gladstone LNG project on 30 March, almost 13,500 pages. It is a required approval step, and the State Government will review it before public release and comment.
31 Mar 2009director officer appointment● NeutralMajor
Chairman Stephen Gerlach will retire on 31 December 2009 after eight years as chairman, and Deputy Chairman Peter Coates takes over. Director Judith Sloan will also leave at the next AGM.
31 Mar 2009annual report● Neutral
Santos published its 2008 Annual Report, covering results already reported on 19 February, including 54.4 mmboe production and A$1.65bn net profit. The visible text is only front matter and contents, with no new figures.
31 Mar 2009annual report● Neutral
Santos' Shareholder Update repeats 2008 results: sales up 11% to A$2.8bn, underlying profit A$572m, 42c dividends, and reserves above 1 billion boe. Chairman Gerlach plans to step down on 31 December. Nothing new beyond earlier announcements.
25 Mar 2009drilling progress report● Neutral
Beach reports the South July-1 sidetrack in Egypt is drilling at 3,058 m; Santos, as operator, is not participating. Tindilpie-7 reached 3,248 m in the Cooper Basin. Routine update.
18 Mar 2009drilling result▼ BadMajor
South July-1 in Egypt reached 3,927 m with hydrocarbon shows at the top of the Yusr Member, but did not reach the Nubia target because the Lower Rudeis was thicker than expected. A sidetrack proceeds without Santos (40% operator), which opted out.
18 Mar 2009dividend declaration● Neutral
Santos set the dividend reinvestment plan share price at A$15.4242 for the 20c final dividend paid 31 March 2009. No discount applies. Administrative follow-up to the February dividend announcement.
16 Mar 2009drilling progress report● Neutral
Carbon Minerals reports Santos completed the Barneys Spring 1A coreholes in the Gunnedah Basin (PEL 1) at 594.6 m, finding 26 m of coal in 21 seams. Santos is operator; further core holes are moving ahead. Routine update, no resource booking yet.
11 Mar 2009drilling progress report● Neutral
Beach reports South July-1 in Egypt (Santos 40% operator) is drilling ahead at 3,898 m, with no result yet. Fly Lake-26 reached 2,952 m in the Cooper Basin. Routine update.
5 Mar 2009contract award▲ GoodMajor
Apache, operator of the Reindeer JV, signed the Devil Creek gas plant construction contract with Clough. This satisfies the condition on the January Sino Iron gas sales agreement, so Reindeer (Santos 45%) will supply gas from 2H 2011 at up to 215 TJ/d.
4 Mar 2009drilling progress report● Neutral
Beach reports South July-1 in Egypt (Santos 40% operator) at 3,773 m, trying to free stuck drill pipe. Cooper wells Mudrangie Sth-1 reached 3,223 m to be cased as a gas producer. Beach's own Perlubie-1 flowed 2,600 bopd, with no Santos interest. Routine update.
2 Mar 2009investor presentation● Neutral
Santos lodged its full-year results roadshow presentation for Australia, Hong Kong, Singapore and London. It repeats known 2008 results (54.4 mmboe, A$572m underlying profit, 42c dividends) and strategy; the visible text shows no new information.
26 Feb 2009drilling progress report● Neutral
Drillsearch says Chilla-3A (Santos 55.5% operator) hit oil shows in the Murta Formation, reached 1,528 m and was cased and suspended as a potential oil producer, completing the Naccowlah drilling program. Planet Downs-1 has no Santos interest. Routine update.
25 Feb 2009drilling progress report● Neutral
Beach reports Santos-operated Chilla-3A was successful and Muteroo-6 was unsuccessful. South July-1 in Egypt is at 3,757 m, completing wireline logs. Routine update.
20 Feb 2009admin correction● Neutral
Santos corrected its AGM notice: the meeting will be held in Adelaide on 6 May 2009 at 10.00 am, not 2008. Administrative correction only.
19 Feb 2009annual report▲ Good
Santos reports 2008 underlying profit up 42% to A$572m and record net profit of A$1.7bn after the PETRONAS sale. Cash is A$1.6bn, net debt A$506m, gearing 10%. Final dividend is 20c. Bechtel's GLNG FEED team mobilised in early February.
19 Feb 2009investor presentation● Neutral
Results presentation repeats 2008 figures: 54.4 mmboe, A$572m underlying profit, A$1.6bn cash. It gives 2009 guidance of 53-56 mmboe, capex A$1,500m including A$180m exploration. It says Henry first gas is delayed from 1H09 with no material 2009 impact.
19 Feb 2009drilling progress report● Neutral
Drillsearch says Chilla 3 (Santos 55.5% operator) was junked and abandoned at 230 m after a failed casing pressure test. Chilla 3A spudded 18 February targeting the Murta Formation. Routine update.
19 Feb 2009annual report▲ Good
Santos' preliminary 2008 accounts show revenue up 11.4% to A$2,805m and underlying profit up 41.6% to A$571.6m. Net profit rose 359% to A$1,650m, helped by a A$1,188m after-tax gain on the PETRONAS GLNG stake sale. Final dividend is 20 cents.
18 Feb 2009drilling progress report● Neutral
Beach reports Santos-operated Muteroo-6 and Chilla-3A are in progress. South July-1 in Egypt is at 3,647 m, preparing wireline logs and casing, short of its 3,970 m target. Routine update.
11 Feb 2009drilling progress report● Neutral
Beach reports Santos-operated Jackson East-2 was successful, cased as a Hutton oil producer, and Muteroo-6 is drilling. South July-1 in Egypt is at 3,324 m. Routine update.
5 Feb 2009drilling progress report● Neutral
Drillsearch says Jackson East 2 (Santos 55.5% operator) spudded 30 January, found oil shows and reached 1,616 m. Planet Downs-1, with no Santos interest, remains on hold for weather. Routine update.
4 Feb 2009drilling progress report● Neutral
Beach reports Santos-operated Jackson East-2 is in progress and Bindah-3 is to be cased as a future producer. South July-1 in Egypt is at 2,905 m. Beach's own Perlubie-1 found oil. Routine update.
29 Jan 2009drilling progress report● Neutral
Drillsearch says Jackson 58 was cased and suspended as a potential oil producer, and the rig is moving to Jackson East 2, due to spud 30 January. Rain delays continue. Routine update.
28 Jan 2009resource reserve update▲ GoodMajor
Santos lifted 2P reserves by 134 mmboe to a record 1,013 mmboe, passing 1 billion barrels, versus 879 mmboe a year earlier. GLNG CSG 2P reserves rose 142% to 3,246 PJ. Contingent resources rose to 2.85 billion boe, including a 590 mmboe Cooper unconventional gas booking.
28 Jan 2009drilling progress report● Neutral
Beach reports Santos-operated Jackson-58 was successful and Bindah-3 is in progress. Egypt's South July-1 is at 2,741 m, running casing. Routine update.
