Past year: ▲ 35%(6.17 – 8.62 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
8 Aug 2008drilling progress report▼ Bad
Drillsearch (2% holder) reports Santos-operated Naccowlah South-17 was plugged and abandoned at 1,796 m, with poor upper Hutton reservoir and swept oil in the lower Hutton. Naccowlah South-18 spudded 5 August. Repeats the Beach report.
6 Aug 2008drilling progress report▼ Bad
Third-party Beach report: Santos-operated Naccowlah South-17 was plugged and abandoned as unsuccessful. James-2 and Naccowlah South-18 are in progress, and Marabooka-13 was cased as a future gas producer.
4 Aug 2008drilling result▲ GoodMajor
AWE says Netherby-1 in VIC/P 44 (Santos operator, 50%) found good-quality gas-bearing Waarre A sandstone, in line with pre-drill expectations. It is being sidetracked as a producer tied to Henry and Casino, with Henry-2 to follow. This offsets the earlier Pecten East dry hole.
30 July 2008drilling progress report● Neutral
Third-party Beach weekly report: Santos-operated Naccowlah South-17 and James-2 are in progress in the Cooper Basin. Kirralee-2 and Mudera-16 are also drilling. No new results.
29 July 2008drilling progress report▲ Good
AWE reports Netherby-1 in Santos-operated VIC/P 44 (Santos 50%) reached 1,870 m and is logging, with gas shows over about 22 m of Waarre A sandstone. A development sidetrack is planned if successful. Final evaluation is pending.
29 July 2008director officer appointment● NeutralMajor
David Knox, Acting CEO since March 2008, is appointed permanent CEO and Managing Director after an international search that also considered external candidates. Fixed pay is A$1.75m. This resolves the CEO succession open since Ellice-Flint's retirement.
23 July 2008drilling progress report● Neutral
Third-party Beach weekly report: Santos-operated Mudera-15 and Mudera-14 RE1 are to be or are cased and suspended as future Coorikiana gas producers. Kirralee-2 is cementing surface casing.
22 July 2008drilling progress report● Neutral
AWE reports Netherby-1 in Santos-operated VIC/P 44 (Santos 50%) was drilling at 1,240 m, with a planned depth of 1,823 m. A follow-up development sidetrack is planned if it succeeds. No result yet.
21 July 2008drilling result▼ Bad
Third-party Vicpet release confirms Santos' Hudson-1 was plugged and abandoned as a dry hole at 2,430 m, with only residual oil. Vicpet was carried and keeps 15% of ATP 752P. Repeats the result already reported by Bow.
21 July 2008drilling result▼ BadMajor
Bow reports Santos' Hudson-1 in ATP 752P was plugged and abandoned as a dry hole at 2,430 m, after logs showed only residual oil. This follows the Cuisinier-1 oil discovery. Bow still sees other prospects between the two wells.
18 July 2008drilling progress report● Neutral
Bow update: Hudson-1 reached total depth of 2,430 m with minor oil shows throughout, and wireline logging was planned for the weekend. No testing decision has been made.
18 July 2008farm in farm out completion▲ GoodMajor
Santos confirms the PETRONAS deal for 40% of Gladstone LNG is now unconditional after regulatory approvals, including from FIRB, and will complete shortly. PETRONAS pays US$2.008bn on completion, plus US$500m at final investment decision on a second train.
17 July 2008drilling progress report● Neutral
Bow update: Hudson-1 was at 2,347 m drilling in the Doonmulla sandstone, with minor oil shows in all zones so far. Planned total depth is 2,434 m.
16 July 2008drilling progress report● Neutral
Bow update: Hudson-1 was at 2,272 m, running in after a bit change, with minor oil shows. Jawsone-1 (Mosaic's well) was setting casing. No new result.
16 July 2008drilling progress report● Neutral
Third-party Beach weekly report: Santos-operated Deparanie-2 was cased and suspended pending evaluation, and Big Lake-88 was plugged and abandoned as unsuccessful. Mudera-14 RE1 is a gas development re-entry.
16 July 2008drilling spud● Neutral
AWE reports Pecten East-1 was plugged and abandoned at 1,993 m, and Netherby-1 began drilling 15 July in Santos-operated VIC/P 44 (Santos 50%). It targets the Waarre A sand to 1,823 m, about 4 km north of Henry-1.
15 July 2008drilling progress report● Neutral
Bow update: Hudson-1 was at 2,262 m with minor oil shows, still short of the Doonmulla target. Also notes Mosaic's Jawsone-1 spudded in the Surat Basin, which is not a Santos well.
15 July 2008investor presentation● Neutral
Presentation by Santos' CSG manager Stephen Kelemen at the Patersons conference. It restates the Fairview target of 145 TJ/d CSG sales by January 2009 and Gunnedah's 40 Tcf prospective resource, with a first contingent booking expected in 2009. Mostly known material.
15 July 2008drilling progress report● Neutral
Third-party Victoria Petroleum release repeating that Santos' Hudson-1 was at 2,262 m with minor oil shows. Vicpet is carried and keeps 15% of ATP 752P. Nothing new on the well.
14 July 2008drilling progress report● Neutral
Bow update: Hudson-1 was at 2,113 m with minor oil shows in several sandstones. The Doonmulla primary target was not yet reached. Testing will be decided after logging.
11 July 2008drilling progress report● Neutral
Bow update: Santos' Hudson-1 was at 755 m after setting casing, planned total depth 2,434 m, with Hutton and Doonmulla as primary targets. Also covers Bow's Don Juan coal seam gas coring, not a Santos asset.
9 July 2008drilling progress report● Neutral
Third-party Beach weekly report: Santos-operated Narcoonowie-7 reached 1,678 m and is to be cased as a future oil producer. Deparanie-2 is logging and Big Lake-88 is drilling in the Hutton.
9 July 2008drilling result▼ BadMajor
AWE reports Pecten East-1 in Santos-operated VIC/P 44 reached 1,993 m; gas shows were proven residual, so the well found no producible gas. It was drilled down-dip, and the joint venture is considering a separate crestal well.
8 July 2008drilling spud● Neutral
Bow reports Santos' Hudson-1 in ATP 752P spudded at midnight on 7 July, drilling at 580 ft. It follows the Cuisinier-1 oil discovery on the same trend; Santos operates, and Bow retains 15%.
3 July 2008drilling progress report● Neutral
Third-party Beach weekly report: Santos-operated Granchio-3 was cased and suspended as a future McKinlay oil producer. Big Lake-88 and Deparanie-2 are in progress. Other items are not Santos-operated oil wells.
3 July 2008asset acquisition disposition● Neutral
Third-party Drillsearch release: it will buy CPC's 1% of the Tintaburra block (ATP 299P), lifting it from 10% to 11%, for 60 million shares. Santos QNT and Vamgas keep 89% combined, so Santos' interest is not stated to change.
2 July 2008drilling scheduled● Neutral
Bow says Santos' Hudson-1 well in ATP 752P was expected to spud over the weekend after the delay flagged in June. It is the second well of a 7-well program after the Cuisinier-1 oil discovery; Bow keeps 15%.
1 July 2008drilling progress report● Neutral
AWE says Pecten East-1 in VIC/P 44 (Santos operator, 50%) was at 630 m after running 13-3/8" casing, against a planned 1,943 m. No results yet.
25 June 2008drilling spud● Neutral
AWE reports Pecten East-1, first of three wells in Santos-operated VIC/P 44 (Santos 50%, AWE 25%, Mitsui 25%), began drilling 23 June in the Otway Basin, 310 m deep, planned total depth 1,943 m. Netherby-1 and Henry-2 follow.
25 June 2008drilling progress report● Neutral
Third-party Beach weekly report: Santos-operated Big Lake-87 was cased and suspended as a future Hutton oil producer, and Granchio-3 is drilling at 1,314 m. Rain slowed operations early in the week.
