Past year: ▲ 35%(6.17 – 8.62 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
1 Oct 2009drilling progress report● Neutral
Beach's weekly report: Wakefield-1 is cased and suspended pending evaluation, ending Beach's nine-well Eromanga campaign. Santos-operated Surlow-2 is cased and suspended as a future gas producer, and Bobs Well-2 is at 2,530 m. Routine.
1 Oct 2009drilling progress report▲ Good
ESG's bimonthly update on Narrabri PEL 238 (Santos 35%): lateral well Bibblewindi 21H reached 2,378 m, hit about 1,111 m of coal and connected to Bibblewindi 27; both shield wells are due to start production. Tintsfield-1 showed excellent permeability in a test. Routine.
25 Sept 2009investor presentation● Neutral
Knox's speech to the Australia Israel Chamber of Commerce marks 40 years of Cooper Basin production. He cites 5.8 Tcf produced, a 4.2 Tcf conventional recovery target and up to 4.7 Tcf of unconventional contingent resource. Mostly repeats known points.
25 Sept 2009other● Neutral
Santos CEO David Knox proposes a South Australian Low Emissions Target, averaging no more than 0.4 tonnes of CO2 per MWh from power generation by 2020, roughly half the current 0.8. It is a policy proposal with no financial impact.
25 Sept 2009investor presentation● Neutral
Amended re-release (slide 16 corrected) of David Knox's 25 September address to the Australia Israel Chamber of Commerce on 40 years of Cooper Basin production. Same figures as before: 5.8 Tcf produced, 4.2 Tcf conventional target, up to 4.7 Tcf unconventional. No new information.
23 Sept 2009drilling progress report● Neutral
Beach's weekly report: Wakefield-1 reached TD of 2,298 m with fair hydrocarbon shows. Santos-operated Surlow-2 is drilling at 2,023 m and Bobs Well-2 has set surface casing. No Santos result. Routine.
21 Sept 2009security holder rights change● Neutral
Santos reminds holders that FUELS stop trading after the close on 23 September 2009. They will be redeemed on 30 September based on holdings at 7pm AEST on 28 September. Repeats the 27 August announcement.
16 Sept 2009drilling progress report● Neutral
Beach's weekly report: Spikey Beach-1 found no significant hydrocarbon shows and is being abandoned. Santos-operated Charo-7 and Okotoko West-2 are cased and suspended as future producers. No Santos exploration result. Routine.
15 Sept 2009drilling progress report▲ Good
ESG's bimonthly update on Narrabri PEL 238 (Santos 35%): lateral well Bibblewindi 28H reached 2,360 m and connected to Bibblewindi 29, with about 990 m of coal intersected. Bibblewindi 21H and Tintsfield-1 are drilling. Routine.
11 Sept 2009investor presentation● Neutral
David Knox's presentation to a Bank of America Merrill Lynch conference repeats known points: 2009 production of 53-56 mmboe, GLNG FID in 1H10, PNG LNG FID in 2009, and the A$3bn equity raising. No new information.
11 Sept 2009investor presentation● Neutral
Amended re-release of the same Merrill Lynch conference presentation, with the same content as the earlier version. The text shown does not state what was changed. No new information.
9 Sept 2009drilling progress report● Neutral
Beach's weekly report: Spikey Beach-1 and Wakefield-1 progress, with no Santos result. Santos-operated Charo-7 is at TD of 1,880 m and Okotoko West-2 at 2,465 m, both being logged. Routine.
7 Sept 2009regulatory community update● Neutral
The ACCC says third-party access to the Lytton Tank 1020 oil storage in Brisbane has been opened, after producer complaints about Santos' arrangements. Santos and the former lessee sold the tank assets to a new consortium including Beach. No financial figures given.
3 Sept 2009drilling progress report● Neutral
Beach's weekly report: Marino-1 was plugged and abandoned after recovering about 3.5 barrels of oil, not commercial. Santos-operated Charo-6 was cased and suspended as a future Birkhead oil producer, while Wackett-16 was plugged and abandoned.
1 Sept 2009drilling progress report▲ Good
ESG's bimonthly update on Narrabri PEL 238 (Santos 35%): Yallambee-1 cut 35.2 m of Bohena coal, the thickest seen in the permit. Shield wells Bibblewindi 27 and 29 were drilled, and Bibblewindi 28H and Tintsfield-1 are underway. Routine update.
27 Aug 2009security holder rights change● NeutralMajor
Santos confirms the A$600m FUELS will be redeemed at A$100 each on 30 September 2009, with a final fully franked dividend of A$1.6191 per FUELS. Trading ends 23 September. This carries out the use of equity-raising proceeds announced in May.
27 Aug 2009admin correction● Neutral
Santos advises its share registry moves to Computershare Investor Services from 31 August 2009. Administrative notice only, no effect on the business.
26 Aug 2009drilling progress report● Neutral
Beach's weekly report covers its own wells (Marino-1 spudded, Basker-7 cased). Santos-operated Cooper wells Charo-6 and Wackett-16 are at total depth, being logged. No Santos result. Routine.
20 Aug 2009half year report▼ Bad
Santos' half-year accounts show revenue of A$1,047.8m (down 25.5%) and net profit of A$101.7m (down 66.5%). An interim dividend of 22c per share is fully franked, payable 30 September 2009. Detail is in the results release.
20 Aug 2009half year report▼ BadMajor
Santos reports first-half net profit of A$102m, down 66%, as the average oil price fell 39% to A$73.28. Production was 26.6 mmboe and cash and deposits A$3.6bn after the equity raising. Interim dividend unchanged at 22c; LNG projects on track.
20 Aug 2009investor presentation● Neutral
Presentation to the half-year result repeats known points: 26.6 mmboe production, A$102m profit, 2009 guidance of 53-56 mmboe, GLNG FID 1H10 and PNG LNG FID in 2009. It adds cost cuts including about 320 positions eliminated and about A$350m trimmed from base capital programs.
19 Aug 2009drilling progress report● Neutral
Beach's weekly report confirms Burnside-1ST1 was plugged and abandoned as planned and the rig is heading to Dampier. Cooper wells Charo-5 and Wackett-14 (Santos-operated) are cased and suspended as future producers. Routine.
19 Aug 2009resource reserve update▲ GoodMajor
ESG says certified 2P reserves at Narrabri (PEL 238, Santos 35%) rose 79% to 602 PJ at 30 June 2009 (from 336 PJ). The venture remains confident of at least 1,300 PJ 2P by end 2009, the target tied to Santos' July purchase.
18 Aug 2009drilling progress report● Neutral
ESG's bimonthly update on Narrabri PEL 238, where Santos holds 35%: Bibblewindi 27 reached 1,185 m and Bibblewindi 29 was spudded. Yallambee-1 has cut about 25 m of Maules Creek/Bohena coal. Routine drilling update.
18 Aug 2009asset acquisition disposition▲ GoodMajor
Santos sells 60% of the Petrel, Tern and Frigate gas fields to GDF SUEZ for US$200m, plus US$170m on a final investment decision and a full carry of pre-FEED and FEED costs, for a floating LNG project. Santos keeps 40% and books about A$160m after-tax profit in 2H09.
13 Aug 2009drilling result▲ GoodMajor
Santos announces a gas discovery at Burnside-1ST1 in the Browse Basin, with a 65 m gross gas column in the Brewster Sandstone. This resolves the well pending since June. Santos holds 47.83%; commercial significance and an appraisal plan are still to come.
12 Aug 2009drilling result● Neutral
Beach reports Burnside-1ST1 found low-permeability sandstone in the Brewster Sandstone, interpreted as gas-saturated, and is being plugged and abandoned as planned. Santos holds 47.83%. Implications are still being assessed by the joint venture.
5 Aug 2009drilling progress report● Neutral
Beach's weekly report: Santos-operated Charo-4 in the Cooper Basin was plugged and abandoned, and Beach's Murninnie-1 was also abandoned. Burnside-1ST1 reached total depth of 4,182 m and is being evaluated, no result yet. Routine.
31 July 2009joint venture update▲ Good
ESG, with Santos as 35% partner in PEL 238 Narrabri, says the first new 3 MW gas generator at Wilga Park Power Station is operating on pilot coal seam gas. Up to 12 generators are being considered, toward an approved 40 MW.
29 July 2009drilling progress report● Neutral
Beach's Murninnie-1 is drilling (not Santos). Santos-operated Burnside-1ST1 is drilling ahead at 3,849 m with no result yet. Santos-operated Charo-4 and Wackett-15 Cooper wells are in progress. Routine.
