Past year: ▲ 35%(6.17 – 8.62 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
18 Jan 2007drilling progress report▲ Good
Third-party Drillsearch update: at Santos's Tintaburra block, Endeavour 26 (about 8 m net pay) was cased as a future producer and Endeavour 33 as a future water injector. Endeavour 17 and 39 are drilling. Routine.
18 Jan 2007drilling progress report● Neutral
Third-party Victoria Petroleum update: Wilpinnie-4 (Santos operator) was running open hole test DST-1 over 1,475-1,487 m in the mid Namur Sandstone, where oil shows continue. No result yet. Routine.
17 Jan 2007drilling progress report● Neutral
Third-party Beach weekly report: Santos-operated Cowralli 8 (Santos 67%) was cased and suspended at 3,223 m, Wilpinnie-4 was at 1,469 m preparing to core, and Coonaberry-2 (Santos 61%) was preparing to run surface casing. Routine.
17 Jan 2007drilling progress report▲ Good
Third-party Victoria Petroleum update: Wilpinnie-4 (Santos operator) cut a 9 m core and has oil shows over 21 m (1,446-1,487 m) in the mid Namur Sandstone. An open hole test is next. Routine.
16 Jan 2007drilling progress report▲ Good
Third-party Victoria Petroleum update: Wilpinnie-4 (Santos operator) found oil shows at 1,466-1,469 m in the mid Namur Sandstone, about 17 m higher than shows in Wilpinnie-3. Drilling continues; no test result yet. Routine.
16 Jan 2007contract award▲ Good
Third-party Cue filing: the Oyong field production vessel contract went to PT Pulau Kencana Raya (Seagood 101 barge). It is expected in position by June 2007, with first oil by end of Q2 at about 10,000 bopd. Santos operates Sampang PSC with 40.5%; consistent with the earlier first oil timing.
15 Jan 2007drilling progress report● Neutral
Third-party Victoria Petroleum update: Wilpinnie-4 (Santos operator) set surface casing at 306 m and was preparing to drill ahead at 1,098 m, following the earlier re-spud. Routine.
11 Jan 2007drilling progress report▲ Good
Third-party Drillsearch update: at Santos's Tintaburra block (Santos 89%), Endeavour 40 and 34 were cased as future oil producers (about 4 m and 6 m net pay). Endeavour 26 is logging. Campaign total 77 wells, 58 completed for production, 19 abandoned. Routine.
11 Jan 2007drilling result▲ Good
Third-party Magellan report: Santos-operated Dilkera North 1 (Nockatunga, Santos 61.006%) reached 1,438 m, recovered 31 barrels of oil on test and was cased as a future oil producer. Thungo 9 spudded 8 January. Follows the earlier Murta shows.
11 Jan 2007drilling progress report▼ Bad
Third-party Victoria Petroleum update: Wilpinnie-4 (Santos operator) had surface casing difficulties and the rig was preparing to skid and re-spud the well. Target depth remains 1,586 m. A minor setback; routine.
10 Jan 2007drilling result▲ Good
Third-party Beach report: Itchy 1 (Santos 66.6% operator) flowed oil at 2,174 barrels per day from the Hutton sandstone and was cased. Ramses-2 flowed oil at 588 bpd from the Poolowanna formation. Cowralli 8 is logging.
10 Jan 2007drilling spud● Neutral
Third-party filing by Impress: Santos-operated Wilpinnie-4 (Tomcat) spudded 9 January in PPL 93, where Santos holds 33%. It targets 7.5 million barrels in place (3.5 million recoverable) at P50, with a 1,588 m depth and about 7 days planned.
10 Jan 2007drilling progress report● Neutral
Third-party filing by Victoria Petroleum: Santos-operated Wilpinnie-4 (Tomcat) began drilling 9 January and was at 264 m, heading to 1,586 m. Santos holds 33.3% after farmout if commercial; the Tomcat prospect is mapped at 3.5-5.6 million barrels recoverable. Routine.
4 Jan 2007drilling progress report● Neutral
Third-party filing by Drillsearch: at Santos's Tintaburra block, Endeavour 38 and Currawinya 1 had poor shows and were abandoned. Endeavour 40 and Endeavour 26 are next. Routine drilling.
4 Jan 2007drilling spud● Neutral
Third-party filing by Magellan: Santos-operated Dilkera North 1 in the Nockatunga block (Magellan 38.994%) spudded 31 December and has Murta oil shows at 1,120 m. It begins Magellan's intensive drilling program. Routine.
3 Jan 2007drilling progress report● Neutral
Third-party Beach weekly report: Wackett-13 (Santos 67% operator) was cased and suspended, and Ramses-2 is logging at 2,935 m. Cowralli 8 and Itchy 1 are drilling ahead. Routine.
2 Jan 2007regulatory community update● Neutral
Third-party filing by Cue: the 40 km Barikewa field survey in PNG's PRL-09 (Santos operator, 42.553%) is complete. It aims to narrow the range of recoverable gas volumes from the current 800 billion cubic feet potential. Routine.
2 Jan 2007regulatory community update▼ Bad
Santos noted media reports that Indonesia's President said operator Lapindo must pay 3.8 trillion rupiah (US$421m) for the Banjar Panji mudflow. Santos has received no official communication; it holds 18% of the Brantas PSC, and costs remain unclear.
2 Jan 2007drilling scheduled● Neutral
Third-party filing by Impress: rain delayed Wirraway-1, while Santos-operated Wilpinnie-4 (Tomcat) in the Cooper Basin is expected to spud in early to mid January. Routine scheduling.
28 Dec 2006drilling progress report● Neutral
Third-party filing by Drillsearch: Tintaburra's Endeavour 28 was cased as a future oil producer, and Mugginanullah 2 recovered no oil on test and was abandoned. Endeavour 38 and Currawinya 1 are drilling. Routine.
21 Dec 2006drilling progress report● Neutral
Third-party filing by Drillsearch: at Santos's Tintaburra block, Endeavour 27 was cased and suspended, and Ziegfreid 1 had oil shows but recovered no oil on test and was abandoned. Mugginanullah 2 and Endeavour 28 are drilling. Routine.
21 Dec 2006regulatory community update▼ Bad
Third-party filing by QGC: its second supplementary target's statement adds disclosures requested by the Takeovers Panel and repeats its directors' recommendation to reject Santos's offer. It says Santos reserves its position on conditions that have become incapable of being satisfied.
20 Dec 2006drilling progress report● Neutral
Third-party Beach weekly report: Psyche-5, Yanda-25 and Biala-14 (Santos operator) were cased and suspended, and Ramses-2 is running surface casing. Cabbots-1 and Dunoon-2 are not Santos-operated. Routine.
19 Dec 2006regulatory community update● Neutral
Third-party filing by Cue: a 40 km geological survey of the Barikewa gas field in PNG's PRL-09, where Santos operates with 42.553%, is nearing completion. Barikewa is assessed at about 800 billion cubic feet recoverable potential. Routine.
19 Dec 2006regulatory community update▼ BadMajor
The Takeovers Panel declined to find unacceptable circumstances in Santos's complaint about QGC's target's statement, after QGC agreed further disclosures. It noted QGC's proposed AGL and Sentient transactions; this resolves Santos's application, leaving a competing AGL proposal to be voted on in February 2007.
15 Dec 2006director officer appointment● Neutral
Santos announced that director Michael O'Leary resigned effective 15 December 2006. No reason is given in the notice.
15 Dec 2006well test result▲ GoodMajor
Blackbird oil discovery in Vietnam's Block 12E flowed 2,177 and 3,706 barrels of oil per day from two zones, with no water, and will be sidetracked for appraisal. Vietnam approvals for the Premier farm-out are received, so Santos is finalising its 37.5% interest.
14 Dec 2006drilling progress report● Neutral
Third-party filing by Drillsearch: Tintaburra (Santos 89% operator) Endeavour 20 was cased as a future producer/injector, and Zenoni 1 recovered Murta oil on test but was cased as a water injector. Ziegfreid 1 and Endeavour 27 are drilling. Routine.
13 Dec 2006drilling progress report● Neutral
Beach's weekly report showed Yanda-22 (Santos 55% operator) cased and suspended as a Murta oil producer, Big Lake-83 running wireline logs and Psyche-5 preparing to cement production casing. Yanda-25 was drilling surface hole and Biala-14 was drilling ahead in the Murta.
13 Dec 2006joint venture update▲ Good
AWE said the VIC/P 44 joint venture, with Santos as 50% operator, agreed to proceed to front-end engineering for the Henry gas field. Preliminary cost is about A$140m, with first gas forecast Q1 2009 and study completion by September 2007.
