ANNUAL GENERAL MEETING The Santos Annual General Meeting was held in Adelaide today with the Chairman Mr John Uhrig and the Managing Director Mr Ross Adler addressing shareholders. CHAIRMAN’S ADDRESS 1997 Result Mr Uhrig described 1997 as being a good year for the company. Sound financial results were achieved, the ordinary full year dividend was…
First Quarter Highlights The following results were achieved compared with the 1997 first quarter: Production volume increased by 5.3% to 10.1 million boe Sales volume increased by 2.2% to 9.4 million boe Sales revenue decreased by 11.7% to $160.1 million Comment by Mr Ross Adler, Managing Director The 5.3% increase in production was a pleasing…
COMMENCEMENT OF PRODUCTION FROM SE GOBE Santos Limited today announced that crude oil has begun to flow from the SE Gobe field 17 months after the issue of the Petroleum Development Licence (PDL) and 15 months after the commencement of construction. The project has been completed three months ahead of schedule and below budget. It…
Santos USA Corporation announced today that it was the high bidder on 6 blocks in the Central Gulf of Mexico following bidding in the US Offshore Continental Shelf Lease Sale No. 169 which was conducted by the US Federal Government on 18 March 1998. The award is subject to the US Minerals Management Service determining…
INCREASE IN SANTOS FULL YEAR PROFIT TO $206 MILLION RESERVES INCREASE TO OVER ONE BILLION BARRELS Santos today announced an after tax operating profit for the 1997 full year of $206.2 million, an increase of 5.3% on the 1996 result of $195.9 million. The increased profit was primarily the result of record production and sales…
Increase In Santos Full Year Profit To $206 MillionReserves Increase To Over One Billion Barrels Santos today announced an after tax operating profit for the 1997 full year of $206.2 million, an increase of 5.3% on the 1996 result of $195.9 million. The increased profit was primarily the result of record production and sales revenue.…
Fourth Quarter Highlights The following results were achieved compared with the 1996 fourth quarter: Production volume increased by 8.9% to 10.7 million boe Sales volume increased by 4.0% to 10.3 million boe Sales revenue decreased by 5.2% to $196.4 million Full Year Highlights Full year highlights compared with 1996 are summarised below. Each category represented…
Santos Ltd announced today that it intends to seek offers for the purchase of the groups oil and gas interests in the United Kingdom. The interests include up to: 32.8% in Anglia (a producing gas field) 2.9% in Pierce (oil fields under development 1.8% in Banff for production in 1998) 13.3% in Block 22/22c (includes…
INDONESIA PERMIT AWARD The Santos Group today announced that it has been awarded a 45% interest and Operator status in the Sampang Production Sharing Contract (PSC) in East Java, Indonesia. The Sampang PSC is located immediately offshore from Surabaya, Indonesia’s second-largest city, a major seaport and industrial centre The PSC contains a number of gas…
Third Quarter Highlights: The following results were achieved compared with the 1996 third quarter: Sales revenue increased by 10.3% to $205.9 million. Sales volume increased by 7.7% to 11.2 million boe. 67% success rate from exploration and appraisal wells drilled. Comment by Mr Ross Adler, Managing Director Increases in sales revenue and sales volume were…
In the Central Gulf of Mexico Lease Sale, Santos acquired a 20% Working Interest in nine (9) blocks with Murphy Exploration and Production Company (60%) as Operator, and Callon Petroleum Company (20%). The Eugene Island Block 335#1, operated by Murphy Exploration and Production Company, has been drilled to a total measured depth of 8,075 feet…
Santos Ltd today announced an initiative covering the low permeability gas discovered by Santos and its joint venturers in the Nappamerri Trough in the far north-east of South Australia. The area of the Nappamerri Trough is shown on the attached map and represents approximately 5% of Petroleum Exploration Licences Nos. 5 and 6. Santos Ltd…
Increase In Santos Interim Profit Santos today announced an after tax operating profit for the 1997 first half of $102.3 million, an increase of 15.5% on the 1996 first half result of $88.6 million. The improved profit performance was primarily the result of increased production and higher product prices. Managing Director, Mr Ross Adler, said…
Approval for Pierce Oil Field Development Santos announced today that Enterprise Oil plc, as Operator, has received approval from the UK Department of Trade and Industry (DTI) for the development of the Pierce oil field in the Central North Sea. First oil is planned in August 1998. Discovered in 1975, the field has proven and…
Second Quarter Highlights The following results were achieved compared with the 1996 second quarter: Sales revenue increased by 4.0% to $194.9 million Sales volume increased by 6.0% to 10.6 million boe Production volume increased by 4.5% to 10.3 million boe 64% success rate from exploration and appraisal wells spudded. Comment by Mr Ross Adler, Managing…
INDONESIAN PERMIT AWARDED Santos today announced that it has been awarded a 61.111% interest in the Korinci-Baru Production Sharing Contract (PSC) in central Sumatra in Indonesia This interest complements the 61.111% interest which Santos already has in the adjoining Bentu PSC which contains gross gas reserves of approximately 200 billion cubic feet. The remaining 38.888%…
First Quarter Highlights The following results were achieved compared with the 1996 first quarter: Sales revenue increased by 22.5% to $181.3 million (first quarter record). Sales volume increased by 15.0% to 9.2 million boe (first quarter record). Production volume increased by 6.8% to 9.6 million boe (first quarter record). 60% success rate from exploration and…
On 5 December, 1996 Santos Ltd announced that the Australian Stock Exchange Ltd had granted waivers from Listing Rules 5.4 and 5.5 in respect of drilling and test results in relation to exploration wells outside Australian jurisdiction and in the Zone of Co-Operation between Australia and Indonesia on the conditions specified in that announcement, which…
FENTON CREEK 1 The Santos Group, as Operator for PEP 108 announces the discovery of a new gas field in the Victorian section of the Otway Basin. The exploration wildcat well Fenton Creek 1 flowed gas on drill stem test (DST 2) at 169,900 cubic metres per day (6.0 million cubic feet per day) accompanied…
1996 Annual Report
Santos USA Corporation announced today that it is well placed to expand its interests by up to 9 exploration blocks in the Central Gulf of Mexico. This follows bidding in the US Offshore Continental Shelf Lease Sale No. 166 which was conducted by the US Federal Government on 5 March 1997 in which Santos USA…
1996 FOURTH QUARTER REPORT Fourth Quarter Highlights The following results were achieved compared with the 1995 fourth quarter: Sales revenue increased by 24.4% to $207.2m (a record level of quarterly revenue) Sales volumes increased by 10.0% to 9.9 million boe (fourth quarter record) Production volume increased by 8.8% to 9.8 million boe (fourth quarter record)…
MOODY’S INVESTORS SERVICE ANNOUNCES SANTOS DEBT RATING UPGRADE Santos announces that Moody’s Investors Service has upgraded Santos Finance Limited’s commercial paper rating from Prime-3 to Prime-2. Santos Finance Limited is a wholly owned and guaranteed subsidiary of Santos Limited. This follows Standard & Poor’s recent report which maintains Santos’ long term debt rating…
Santos South East Asia Business Unit Created Following Completion of MIM Oil & Gas Acquisition On 23rd September 1996, Santos announced its intention to acquire the oil and gas business of MIM Holdings Limited (excluding interests in Queensland and the Bonaparte Basin). The acquisition was subject to the granting of regulatory approvals and satisfaction of…
Santos Ltd advises that the UK Block 22/22c-3 well, 128 miles east of Aberdeen, has been suspended pending further evaluation following oil shows. The original wellbore, 22/22c-3, was drilled by the semi-submersible drilling rig Sedco Explorer in 307 feet of water to a total depth of 9,235 feet. The well encountered shows of hydrocarbons in…
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