Past year: ▲ 35%(6.17 – 8.62 AUD)
Each one in plain English, with the numbers worked through for a shareholder.
27 Mar 2006drilling result▲ Good
Third-party filing by Drillsearch: Mulberry 8 (Santos 89% operator) found 12 m of good reservoir in the mid Birkhead oil interval. It extends the Mulberry pool 850 m south-west of Mulberry 5 and was cased. The rig moves to Mulberry 9.
27 Mar 2006drilling spud● Neutral
Third-party filing by Drillsearch: Mulberry 9 (Santos 89% operator) spudded 26 March and reached 218 m. It targets the Birkhead Formation at about 1,250 m, to a planned 1,345 m. It is the fourth well of the Tintaburra program.
23 Mar 2006drilling result▲ Good
Third-party filing by Drillsearch: Mulberry 8 (Santos 89% operator) reached 1,344 m with fair to good oil shows at 1,248-1,260 m in the Birkhead Formation. Drillsearch calls it a pleasing extension of the Mulberry pool. Logging is next.
23 Mar 2006drilling progress report● Neutral
Third-party weekly report by Origin: Santos QNT (12.5%) is a partner in the Newstead 10 and 11 gas injection wells in the Surat Basin. Newstead 10 was cased as a future injector, and Newstead 11 was drilling. Nothing material for Santos.
23 Mar 2006drilling result▲ Good
Third-party filing by Sunshine Gas: Coxon Creek 2 (Santos 85% operator) has been cased and completed over the coal seams. It will be pumped for an extended production test, and the rig moves to the second of up to four pilot wells.
22 Mar 2006material agreement▲ GoodMajor
Third-party filing by Magellan: Santos and Magellan, as Mereenie producers, signed a heads of agreement to sell more gas to the Northern Territory's Power and Water Corporation. It covers a minimum 5.2 PJ from March 2006 to December 2008. Terms are not binding until a full agreement is signed.
22 Mar 2006drilling result▲ Good
Third-party filing by Cue: the SE Gobe-12 development well in Papua New Guinea found a 25.8 m net oil column and a 25.4 m net gas column. Oil production is expected from mid-April at 1,500-2,000 barrels a day. Santos's subsidiary holds 9.39%.
22 Mar 2006farm in farm out agreement▲ GoodMajor
Third-party filing by Icon Energy: Santos will earn 50% of Surat Basin permit ATP 626P by drilling Stitch No.1 and operating. It will also subscribe for 10 million Icon shares at 6.76c ($676,000). Santos gets a heads of agreement to operate two Cooper-Eromanga permits at 63%.
22 Mar 2006other● Neutral
Third-party filing by Drillsearch: a map shows the Mulberry field wells. Mulberry 6 and 7 are complete and Mulberry 8 is drilling. Twelve Mulberry wells in 2006 are the first group of the 51-well Santos-operated program. It carries no new result.
20 Mar 2006drilling spud● Neutral
Third-party filing by Drillsearch: Mulberry 8 (Santos 89% operator) spudded 19 March and reached 225 m. It targets the Birkhead Formation at about 1,240 m, to a planned 1,432 m. It follows Mulberry 7 in the program.
17 Mar 2006dividend declaration● Neutral
Santos set the dividend reinvestment plan share price at $11.165814, the average market price over seven business days after the 6 March record date, with no discount. This applies to the 20 cent final dividend payable 31 March.
17 Mar 2006agm notice● Neutral
Santos confirmed its annual general meeting will be held in Adelaide on 4 May 2006 at 10.00 am, as announced on 23 February. This is the meeting where the KPMG to Ernst & Young auditor change is to be voted.
17 Mar 2006director officer appointment● NeutralMajor
Santos extended Managing Director John Ellice-Flint's contract, covering January 2006 to at least August 2009. Base salary is $1.5m, with up to 150% short-term bonus and 2.5m options at $11.36 subject to AGM approval. A $500,000 annual interest-free share loan replaces future superannuation benefits.
17 Mar 2006well test result▲ Good
Third-party filing by Sunshine Gas: Coxon Creek 2 (Santos 85% operator, Sunshine 15%) flowed coal seam gas at up to 0.59 MMscfd from the top seam, falling as deeper seams brought water up to 1,100 barrels a day. Sustained rates still need production testing.
17 Mar 2006drilling progress report▲ Good
Third-party filing by Cue: Jeruk-3 (Santos operator, 40.5%) reached 4,960 m measured depth on 16 March, where it believes it hit the top of the Kujung objective. Logging, casing and evaluation follow, toward a planned 5,512 m. The result is still pending.
17 Mar 2006drilling result▲ Good
Third-party filing by Drillsearch: Mulberry 7 (Santos 89% operator) found 14 m of good reservoir in the Birkhead oil interval. It extends the Mulberry pool 425 m south-west of Mulberry 5 and was cased. This is the second extension in the 51-well program.
16 Mar 2006drilling progress report▲ Good
Third-party report by Drillsearch: Mulberry 7 reached its 1,440 m total depth with fair to good oil shows at 1,242-1,260 m in the Birkhead Formation. Logs await analysis and production casing is to be run.
15 Mar 2006drilling spud● Neutral
Third-party filing by Sunshine Gas: Coxon Creek 2, the first of up to four coal seam gas pilot wells in ATP 336 (Santos 85% operator, Sunshine 15%), spudded 11 March. Planned depth 410 m, about 11 days to complete. No result yet.
13 Mar 2006drilling progress report● Neutral
Third-party report by Drillsearch: Mulberry 7 (Santos 89% operator) was at 757 m on 13 March, drilling ahead after setting surface casing at 215 m. Target Birkhead Formation at about 1,240 m. No result yet.
10 Mar 2006drilling spud● Neutral
Third-party filing by Drillsearch: Mulberry 7, the second well of the Santos-operated Tintaburra program (Santos 89%), spudded 10 March. It targets the Birkhead Formation to about 1,440 m.
7 Mar 2006drilling result▲ Good
Third-party filing by Drillsearch: Mulberry 6 reached 1,439 m with good oil shows at 1,230-1,248 m in the Birkhead Formation. It extends the Mulberry oil pool 300 m and will be cased as a producer. First result of the 51-well Santos-operated program.
3 Mar 2006drilling progress report● Neutral
Third-party weekly report by Drillsearch: Mulberry 6 (Santos 89% operator) was at 808 m, drilling ahead, after 588 m in the prior 24 hours. The Birkhead target is at about 1,240 m. No result yet.
3 Mar 2006farm in farm out agreement▲ GoodMajor
Third-party filing by Nexus: Santos will earn 37.5% of Gippsland permit VIC/P39(V) and become operator, subject to approvals, by funding part of the Galloway-1 well. The well is planned for Q3 2006, with a mean 28 million barrel target.
2 Mar 2006dividend declaration● Neutral
Santos confirmed the 20 cents per share fully franked dividend will be paid 31 March 2006 to holders on the 6 March record date. The dividend reinvestment plan applies at market price with no discount.
1 Mar 2006drilling progress report● Neutral
Third-party weekly report by Drillsearch: Mulberry 6 (Santos 89% operator) was at 220 m with surface casing cemented, testing blowout preventers before drilling ahead. No result yet.
1 Mar 2006drilling result▲ Good
Third-party filing by Sunshine Gas: Latemore 2 (Santos 85% operator) is being cased and suspended after gas flowed from three zones, including a minor basement flow. The rig then moves to a Roma shallow gas pilot program.
28 Feb 2006director officer appointment● Neutral
Santos announced that director Peter Barnett resigned from the board, effective 28 February 2006. No reason is given in the notice.
28 Feb 2006drilling result▲ Good
Third-party filing by Stuart: Santos-operated Derrilyn 3 (Santos 65%, Stuart 35%) made an oil discovery in the Cadna-owie formation, recovering 14.3 barrels of 43.3 API oil on test. The well will be cased as a future producer; significance is still being evaluated.
27 Feb 2006drilling spud● Neutral
Third-party filing by Drillsearch: Mulberry 6, the first of the 51-well Tintaburra oil program, spudded 27 February after the rig delay. Santos operates with 89%. The target is the Birkhead Formation, with a planned depth of 1,300 m.
24 Feb 2006drilling progress report● Neutral
Third-party filing by Cue: Jeruk-3 (Santos operator, 40.5%) was drilling at 3,322 m on 23 February, towards a planned 5,512 m. No result yet. SE Gobe-12 in Papua New Guinea (Santos subsidiary 9.39%) was at 957 m.
