Past year: ▲ 35%(6.17 – 8.62 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
6 Feb 2008drilling result▲ Good
Third-party Origin report: Emu Apple 3 (Santos QNT 10%) found oil in the Hutton Sandstone, a new oil pool for the Emu Apple field, plus Boxvale and Evergreen shows. Cased as a future producer. Tests recovered small volumes (6.1 bbl Hutton, 1.7 bbl Boxvale).
30 Jan 2008other● Neutral
Third-party Victoria Petroleum update. For Santos's ATP 752P farm-in (Vicpet 15%), Hudson-1 is planned for early March and Cuisinier-1 for mid April, as part of a seven-well program. This is later than the February start Bow indicated.
30 Jan 2008drilling progress report● Neutral
Third-party Beach weekly report: Tirrawarra 73 cased as an oil and gas producer; Mudera North-1 cased as a gas producer. Coonatie-11 is logging; Tirrawarra-75 is drilling. Mudera-12 is under accident investigation, and Mudlalee-6 operations are suspended.
30 Jan 2008contract award● Neutral
Third-party Rheochem release: it won a drilling fluids contract of about A$3m from Santos for six Otway Basin wells (three exploration, two development, one deepwater exploration) from March/April 2008. Indicates Santos's planned Otway drilling.
24 Jan 2008quarterly activities report● Neutral
Q4 2007 production was 14.0 mmboe (-6% on Q3), revenue A$647m. Full year 2007 production was 59.1 mmboe (-3%) with revenue A$2,489m, in line with guidance. The 15% shareholder cap removal takes effect 29 November 2008; Reindeer FEED is done, with sanction expected H1 2008.
23 Jan 2008drilling progress report▲ Good
Third-party Beach weekly report: Tirrawarra 73 (Santos operator) found 11 m of oil pay and 5 m of gas pay. Mudera North-1 reached 1,856 m and is being evaluated; Coonatie-11 is drilling.
23 Jan 2008other● Neutral
Third-party Biosignal release: UK tests found its anti-bacterial compounds far outperformed an industry standard biocide. The trials are supported by Santos and BHP Billiton. No direct financial effect on Santos is stated.
16 Jan 2008drilling progress report▲ Good
Third-party Beach weekly report: Merrimelia-61 (Santos operator) cased as a future oil producer with 4.5 m of oil pay. Coonatie-11, Tirrawarra 73 and Mudera North-1 are drilling. Callawonga pipeline is due mid-March.
14 Jan 2008drilling progress report● Neutral
Third-party Drillsearch update: casing Jackson 55 ended the current Naccowlah (Santos 55.5% operator) drilling phase. The campaign resumes in May 2008 with at least ten wells. Fits the scaled-back 2008 Cooper plan.
14 Jan 2008drilling progress report● Neutral
Third-party Bow update, mostly on its own coal seam gas wells. It repeats that the first two wells of the Santos-operated ATP 752P farm-in (Bow 15%) are due to start in February.
9 Jan 2008drilling progress report▲ Good
Third-party Beach weekly report: Coonatie-10 (Santos operator) cased as a future gas producer, with 6 m of gas pay. Merrimelia-61 and Tirrawarra 73 are drilling.
8 Jan 2008drilling progress report● Neutral
Third-party Bow update, mainly on its own coal seam gas wells. It confirms the first two wells of the Santos-operated ATP 752P farm-in (Bow 15% after the farm-in) are due to start in February, as flagged in October.
3 Jan 2008drilling progress report▲ Good
Third-party Origin update on the Emu Apple oil appraisal wells (Santos QNT 10%): Emu Apple 2 found good oil shows and was cased as a future oil producer. Emu Apple 3 was drilling surface casing.
3 Jan 2008drilling progress report● Neutral
Third-party Drillsearch update: Jackson 54 and 55 (Santos 55.5% operator) cased as future oil producers. The rig is under routine maintenance. Repeats Beach's results.
2 Jan 2008drilling progress report● Neutral
Third-party Beach weekly report: Jackson-54, Jackson-55 and Charo-3 cased as future oil producers; Tartulla-8 cased as a future gas producer; Zogg-1 (Santos operator) plugged and abandoned. Merrimelia-61 is drilling.
28 Dec 2007regulatory community update▲ GoodMajor
South Jakarta court rejected all claims by environmental group WALHI over the Sidoarjo mud flow; Brantas PSC participants (Santos 18%) successfully defended. WALHI has 14 days to appeal. Santos already carries a net A$67m provision for the incident.
24 Dec 2007production update▼ BadMajor
Mutineer-Exeter (Santos 33.4% operator) is producing only 4,000-5,000 bopd gross after electrical damage disabled the sub-sea pumps. Impact is 0.1-0.17 mmbbl net in 2007, and 0.17-0.34 mmbbl net in 2008 if repaired by April. Adds to the field's earlier dry Mutineer-13 well.
20 Dec 2007production update▲ Good
Third-party Cue release: Oyong oil (Sampang PSC, Santos operator 45%) is holding a stable rate of about 8,500 bopd, within the 8,000-9,000 expected. A further 300,000 barrel cargo is due around 23 December. Confirms the field started in September is performing.
20 Dec 2007drilling progress report▲ Good
Third-party Drillsearch update: Jackson 53 (Santos 55.5% operator) found pay in the Murta and Mid Birkhead formations and was cased as a future oil producer. Jackson 54 has spudded.
19 Dec 2007material agreement▲ GoodMajor
Third-party BHP release: Kipper gas field development approved, with first production in 2011. Cost is about US$1.1bn. Santos holds 35% (the stake the context shows it was buying from Woodside), and BHP and Esso hold 32.5% each.
19 Dec 2007material agreement▲ GoodMajor
Santos welcomed sanction of the Kipper gas project (Santos 35%): first gas targeted H1 2011 at about 75 TJ/d gross. 2P reserves are about 610 PJ plus 30 mmboe of liquids. Santos's Stage 1 share is about A$140m. Follows Henry last month.
19 Dec 2007drilling progress report● Neutral
Third-party Drillsearch update: Jackson 52 (Santos 55.5% operator) cased and suspended as a future oil producer; Jackson 53 spudded 12 December. Repeats results already reported by Beach a week earlier.
19 Dec 2007drilling progress report● Neutral
Third-party Beach weekly report: Jackson-53 (Santos operator) cased as a future oil producer; Ogg-1 (Santos operator) plugged and abandoned. Charo-3 is drilling. Ballaparudda-1, Beach's own well with no Santos interest, was dry. No weekly report next week.
12 Dec 2007drilling progress report● Neutral
Third-party Beach weekly report: Charo-2 and Jackson-52 (Santos operator) were cased as future oil producers, with about 3 m of oil pay in each. Ogg-1 is drilling; Coonatie-10 and Tartulla-8 have spudded.
6 Dec 2007drilling progress report● Neutral
Third-party Drillsearch update: Jackson 56 (Santos 55.5% operator) found oil pay in several intervals and was cased as a future producer. Jackson 52 spudded 4 December.
5 Dec 2007drilling progress report● Neutral
Third-party Beach weekly report: Jackson-56 cased as an oil producer; Ikarumba-1 and Wellington-6 (Santos operator) plugged and abandoned. Coonatie-8/ST1 is being cased as a gas producer. Parsons-1, Beach's own discovery, flowed 3,362 bopd.
28 Nov 2007drilling progress report● Neutral
Third-party Beach weekly report: Merrimelia-60 and Jackson-48 were successful; Jena-25 was cased though Beach opted out; Ikarumba-1 is drilling. Beach's own Parsons-1 (no Santos interest stated) is a new oil discovery with a 12 m gross oil column.
28 Nov 2007material agreement▲ GoodMajor
Santos and partners sanctioned the Henry gas field development (VIC/P44, Santos 50% operator): capex A$275m (Santos A$138m), first gas targeted H1 2009 via Casino infrastructure. 2P reserves are about 150 PJ (Santos ~75 PJ).
28 Nov 2007material agreement● Neutral
Third-party AWE (25% partner) re-released Santos's Henry sanction announcement with its own comment. Same facts: A$275m project, first gas H1 2009. No new information for Santos.
23 Nov 2007drilling progress report● Neutral
Third-party Drillsearch update: Jackson 49 (Santos 55.5% operator) found oil pay and was cased as a future producer. Jackson 48, the fourth of nine Westbourne development wells, has spudded.
