Santos Limited is pleased to announce the appointment of Mr Martyn Eames to the newly created position of Vice President, Corporate and People, effective December 1 2004. Martyn currently holds the position of Vice President, Strategy and Business Planning with BP Angola, a major growth business in BP’s upstream portfolio. His career spans over 25…
Santos Limited (Santos) today announced that it has extended the following dates, in order to give Santos Reset Convertible Preference Share (Reset) holders more time to participate in the on-market buyback and to consider their options under the Resets redemption and buyback. Resets Redemption and Buyback New Date Previous Date Last date for lodging sell…
On 24 August 2004, Santos Limited (Santos) announced an offer of a new class of preference shares called FUELS (Franked Unsecured Equity Listed Securities) to raise $500 million with the ability to accept oversubscriptions. A Prospectus for the FUELS issue was lodged with the Australian Securities and Investments Commission (ASIC) on that date. The Prospectus…
As announced by Santos Ltd on Tuesday August 24, an Institutional Bookbuild was to open on Friday August 27 and close on Monday August 30 to set the Margin for the proposed issue of FUELS (Franked Unsecured Equity Listed Securities). Due to the strong interest shown by investors since the announcement of the offer, Santos…
Santos Limited today announced an offer of Franked Unsecured Equity Listed Securities (FUELS) and the redemption and buyback of its existing Reset Convertible Preference Shares (Resets). The offer of FUELS which are non-cumulative, redeemable and convertible preference shares, is for $500 million. The redemption and buyback of Resets will be for all outstanding Resets with…
A PDF of the 2004 Interim Results presentation can be viewed at the following link.
Please see attached the official transcript fof the 2004 Half Year Results conference call.
A PDF of the 2004 Interim Results presentation speaking notes can be viewed at the following link.
Moomba incident affects Santos first half profit (includes corrected dividend table) Santos Limited’s after-tax net profit was $86.5 million in the six months ended 30 June 2004 compared with $135.6 million in the previous corresponding period. As expected, the profit downturn was due to the loss of production caused by the Moomba incident in January…
Santos Limited today announced that it will expand its offshore Victorian gas interests having agreed to increase to 50% its equity interests in both the Patricia Baleen and the Sole gas fields in offshore Victoria. Santos will obtain from Trinity Gas Resources Pty Ltd (TGR) an additional 30% interest in the Patricia Baleen gas field…
Santos Limited announced today that the international groups, Total SA of France and Mitsui Oil Exploration Co Ltd (MOECO) of Japan, will farm into a deep water exploration block located north of Bali, Indonesia held under a production sharing contract (PSC) by Santos (Nth Bali I) Pty Ltd. Total, through its subsidiary, Total E&P North…
Santos Limited today reported lower June 2004 quarter production, sales volumes and revenues, despite significantly improved results compared with the March quarter. Total development spending for the quarter, however, was a record $175 million as the Company moves quickly to bring new projects online, such as Mutineer-Exeter and John Brookes, to increase future production. Total…
Santos Limited has agreed to sell its operated interests in the onshore Otway Basin in western Victoria to Origin Energy Resources Limited which interests are held through its wholly owned subsidiary Santos (BOL) Pty Ltd. The sale includes a 90% interest in the exploration permit EP 154(a) and (b), a 100% interest in the exploration…
Santos Limited has further expanded its global oil and gas search with the announcement today of the Company’s first North African exploration venture. Santos is investing approximately AU$70 million in a joint eight-well exploration venture over three years in the Gulf of Suez, Egypt, with major US petroleum group, Devon Energy Corporation. It is the…
Santos Limited advises that it has sold a total of 4,723,095 fully paid ordinary shares in Magellan Australia Petroleum Limited at $1.25 per share.
This sale represents Santos’ entire remaining holding in Magellan and follows the sale of 3.8 million shares in February 2004.
The divestment is in line with the Company’s policy to divest non-core assets.
Santos Limited (Santos) announced today that, given Sunovs decision not to proceed with its bid for Novus Petroleum Limited (Novus), Santos has agreed with PT Medco Energi Internasional Tbk (Medco) to acquire part of Novus Indonesian interests and all of Novus Cooper Basin interests. Sunov Bid Sunov has announced that it has decided that it…
The new areas are in the shallow waters of the Gulf of Mexico, where winning lease bids have now all been formally awarded, and onshore East Texas. Exploration drilling is scheduled for both areas in the second half of the current calendar year. Santos said today that its wholly-owned subsidiary, Santos USA Corp. (SUSAC), had…
Santos Limited expects its annual results to improve significantly in 2005 following the previously forecast downturn in the current calendar year. Addressing the Company’s Annual General Meeting in Adelaide today, Santos Chairman, Mr Stephen Gerlach, outlined several factors that would contribute to strong growth in production, cash flow and earnings in 2005. “Santos has entered…
Santos Limited today announced details of its new business improvement program which will enhance the oil and gas groups future profits. Features of the program are a new senior leadership team, a dramatic reduction in executive reporting structures, and a 16% reduction in staff and contractor numbers. Detailing the improvement program, Santos Chief Executive Officer,…
Santos Limited today reported lower production, sales volumes and revenue for the opening quarter of 2004, principally attributable to the 1 January 2004 incident at Moomba. Total production for the three months ended 31 March 2004 was 9.7 million barrels of oil equivalent (mmboe) compared with 13.0 mmboe in the previous corresponding period. Sales volume…
Santos Limited announced today another significant achievement in the development of the US$1.8 billion liquids phase of the Bayu-Undan project in the Timor Sea. The project operator, ConocoPhillips, has advised that the first shipment of 340,000 barrels (gross) of condensate destined for the Asian market from the Bayu-Undan development project was completed on 30 March…
Santos Limited has entered 2004 the year marking the Company’s 50th anniversary with six company-building projects located in South East Asia, the Timor Gap and offshore Western Australia and Victoria, Managing Director, Mr John Ellice-Flint, says in the latest Annual Report. “Three of these have been approved and are under development. We expect approvals on…
Santos Limited today announced that it is targeting growing oil production from its Cooper Basin assets. Speaking at a PESA symposium in Adelaide today, Santos Exploration Manager Central Business Unit, Mr John Chambers, said that after a 17 year period of decline, Cooper Basin oil production was expected to be stable in 2004 and then…
2003 Annual Report
The Board of Santos Ltd is pleased to announce that former senior BP executive, Mr. Richard Michael Harding MSc, who is respected internationally in the oil and gas industry, has been appointed a Director, effective 1 March, 2004. Mr. Harding, aged 54, retired in 2003 from BP Exploration Australia where, from 1996, he held the…
Front end engineering work to develop the estimated $200 million Casino gas field offshore western Victoria, has been given approval by Santos Limited and its joint venture partners in the acreage, AWE and Mitsui. Santos, as Operator of the Casino field, announced on behalf of the VIC/P44 joint venture today that expenditure had been approved…
Financial highlights: EBITDA of $1,061 million for the full year ($1,087 million in 2002). Full year operating profit (after tax) of $327 million ($322 million in 2002). Results reflect one-off $55 million tax consolidation benefit. Operating cash flow $897 million, up 9%. Leverage reduced to 22.5%. $188 million of capital and operating savings achieved since…
Santos Limited today announced 148% (80 million barrels of oil equivalent) replacement in Proven (1P) reserves at a world-class average cost of US$5.62 per barrel of oil equivalent for the year ended 31 December 2003. It follows the 119% reserves replacement achieved in 2002. Santos’ Proven reserves at the end of 2003, after 54.2 million…
The Operator of the Bayu Undan project in the Timor Sea, ConocoPhillips, has announced that first liquids production has been achieved, on schedule, from the Gas Recycle (Liquids) phase of the project. This follows successful commissioning and start-up. A copy of the ConocoPhillips release is enclosed. The Operator anticipates that gas recycling (gas reinjection and…
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