Past year: ▲ 35%(6.17 – 8.62 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
19 Nov 2008drilling progress report● Neutral
Beach reports Santos-operated Watson-3 was successful and Gidgealpa-59 and Watson-4 are drilling. Beach's Canunda-1 spudded 14 November and its PeeJay-1 on 15 November. Routine Cooper update; Beach's Egyptian purchase is complete.
18 Nov 2008drilling progress report● Neutral
Sunshine Gas reports Tardrum 3 corehole in ATP 685P (Sunshine 50% operator, Santos 50%) is drilling at 891 m, testing a large anticline for coal seam and conventional gas. Follows the Crocker Gully permit's program; no result yet.
13 Nov 2008drilling progress report● Neutral
Drillsearch reports Santos-operated Watson-3 reached 1,673.6 m with oil shows in the Hutton and is preparing to log. Beach's Canunda-1 is about to spud. Routine Naccowlah development drilling.
12 Nov 2008drilling progress report● Neutral
Beach reports Watson-3 (Santos operator, Beach 38.5%) is the one Santos-operated well in progress. Beach's Canunda-1 is due to spud about 14 November. Routine Cooper drilling update with no new Santos result.
7 Nov 2008farm in farm out completion● Neutral
Egypt approved Beach's deals: 20% of South East July via farm-in from Santos Egypt, leaving Santos Egypt 40% operator, Dana 40%, Beach 20%. South July-1 is planned for December 2008. Completes the Beach farm-in flagged earlier; North Shadwan is a Beach-only deal.
6 Nov 2008drilling progress report● Neutral
Drillsearch reports Santos-operated Jackson South 16 was cased and suspended as a future oil producer at 1,594 m, and Watson 3 was due to spud 6 November. Beach's own Brownlow-1 was cased and suspended as a potential gas producer. Routine Cooper drilling.
5 Nov 2008drilling progress report▲ Good
Beach reports Santos-operated Tickalara-20 and Jackson South-16 were cased as future oil producers. Beach's own Brownlow-1 found a 7 m gas sand and will be cased as a gas/condensate producer. Routine Santos results.
29 Oct 2008drilling progress report● Neutral
Drillsearch reports Santos-operated Jackson South 14 was plugged and abandoned on 22 October. Jackson South 16 spudded 24 October and is drilling at 991 m. Routine Naccowlah development drilling.
29 Oct 2008drilling progress report● Neutral
Beach reports Santos-operated Tickalara-20 and Jackson South-16 are drilling. Beach's own Brownlow-1 is at 2,520 m. Routine Cooper drilling update with no new result.
28 Oct 2008drilling progress report● Neutral
Caspian Oil & Gas says it is nearing a separate deal to drill on Kyrgyz leases held by a Santos International Holdings subsidiary, with a rig expected in December. Santos is a minor party; nothing is final and no Santos cost is given.
28 Oct 2008flow test result▲ GoodMajor
AWE reports Henry-2 DW1 ST1 cleaned up at about 44 MMcf/d, limited by surface facilities. The campaign lifted block gas reserves, and the Henry and Netherby pipeline to Casino is due 1H 2009. The rig is being released, ending the drilling phase after the earlier casing setback.
23 Oct 2008investor presentation● Neutral
Santos's coal seam gas manager presented to a JPMorgan conference, restating the CSG position: 145 TJ/d sales targeted for January 2009 and 50-70 Tcf of potential resource captured. No new facts.
22 Oct 2008drilling progress report▼ Bad
Drillsearch reports Santos-operated Jackson South 14 reached 1,591 m and is being plugged and abandoned, a dry hole. The rig moves to Jackson South 16. Beach's Brownlow-1 spudded 19 October.
22 Oct 2008drilling progress report● Neutral
Beach reports Santos-operated Tickalara-19 (Santos 70%, Beach 30%) was cased as a future McKinlay oil producer. Jackson South-14 is to be plugged and abandoned. Routine Cooper drilling results.
21 Oct 2008drilling progress report▲ Good
AWE reports the Henry-2 horizontal section was drilled through the Waarre A from 2,050 to 2,648 m with good gas shows and good reservoir on logs. Completion is being run, then testing. Supports Henry first gas in H1 2009.
16 Oct 2008contract award▲ Good
PNG LNG (Santos 17.7%) has started a competitive EPC tender for the LNG plant, between Bechtel and Chiyoda, with award expected by late 2009 and construction from 2010. Consistent with the FEED timetable, with FID still expected Q4 2009.
16 Oct 2008drilling progress report● Neutral
Drillsearch reports Santos-operated Jackson South 14 spudded 11 October and is drilling at 978 m. Brownlow-1, operated by Beach, is about to spud. Routine development drilling.
14 Oct 2008drilling progress report▲ Good
AWE reports 9 5/8 inch casing was successfully set on the Henry-2 DW1 ST1 sidetrack, to 2,050 m. This resolves the earlier tight-hole casing problem. A horizontal section through the Waarre A will follow.
9 Oct 2008drilling progress report● Neutral
Drillsearch reports Santos-operated Jackson South 15 (TD 1,505.1 m) recovered 20.8 bbl of oil in a drillstem test and will be cased and suspended. Brownlow-1 (non-Santos) is moving in. Routine development result.
8 Oct 2008contract award● Neutral
Moly Mines confirms the Spinifex Ridge gas deal with Santos: about 15 TJ/day for six years from mid-2010. It is conditional on full project financing. Matches Santos's own announcement of the same day.
8 Oct 2008drilling progress report● Neutral
Beach reports Santos-operated Jackson South-15 reached 1,515 m and is being tested, and Iliad-6 is drilling. Beach's own Brownlow-1 is about to start. Routine Cooper Basin drilling.
8 Oct 2008contract award▲ GoodMajor
Santos signed a gas supply contract with Moly Metals for the Spinifex Ridge mine, about 33 PJ over six years from mid-2010, worth roughly US$380m at US$90 oil. It needs about A$45m net spent on East Spar pipeline capacity. Conditional on Moly raising capital.
2 Oct 2008drilling progress report● Neutral
Drillsearch reports Santos-operated Jackson South 15 is drilling at 1,208.5 m with oil shows in the Namur and Murta formations. Continues the Naccowlah development program; no result yet.
1 Oct 2008drilling progress report● Neutral
Beach's weekly report says Santos-operated Iliad-5 (Santos 70%, Beach 30%) was cased as a future oil producer. Jackson South-15 is still drilling. Routine Cooper Basin development drilling.
30 Sept 2008drilling progress report▼ Bad
AWE reports attempts to set casing on the Henry-2 DW1 sidetrack failed because of tight hole conditions. The 12-1/4 inch hole will be redrilled after setting a kick-off plug. A setback, though no delay to first gas is stated.
30 Sept 2008dividend declaration● Neutral
Santos sets the FUELS dividend rate at 6.0142% a year for 30 September 2008 to 30 March 2009 (8.5917% grossed up for franking). It is the 180-day bank bill rate of 7.0417% plus a 1.55% margin. Routine reset.
26 Sept 2008drilling progress report▲ Good
Drillsearch reports Santos-operated Jackson 57 reached 1,514 m with oil shows and was cased and suspended as a future Hutton oil producer. The Westbourne reservoir was finer grained than expected. Rig moves to Jackson South 15.
24 Sept 2008drilling progress report▲ Good
Beach reports Santos-operated Galex-2 was cased as a future gas producer and Jackson-57 as a future oil producer. Big Lake-90 is drilling. Routine development results.
23 Sept 2008drilling progress report● Neutral
AWE reports the Henry-2 DW1 sidetrack reached 2,047 m, entering the top of the Waarre A reservoir at 2,041 m. It is conditioning the hole to run casing before a horizontal section.
19 Sept 2008asset acquisition disposition▲ GoodMajor
Santos bought 100% of WA-4-R, containing most of the undeveloped Spar gas field, from the Gorgon JV participants, for undisclosed terms. Spar holds up to 600 PJ of gas and up to 8m barrels of condensate. Subject to approvals.
