This result reflects record first half sales revenue, production and sales volume. Included in this result is an equity accounted loss of $18.7 million on the Companys investment in QCT Resources Ltd. Excluding this investment, Santos recorded earnings of $225.7 million. Operating cash flow increased by 79.6% to $440.3 million. Earnings per share were 34.1…
MOOMBA OIL DISCOVERY The Santos Group, as Operator for the PPL 9 Joint Venture Parties, announces the discovery of a new pool oil discovery in the South Australian section of the Cooper/Eromanga Basins. The Moomba 119 high angle oil exploration well has reached a total depth of 2313m in the Jurassic Hutton Formation and has…
Santos Ltd, as Operator for the South West Queensland Unit, announces a successful gas exploration well in the Queensland sector of the Cooper/Eromanga Basins. The exploration well, Roti West 1, flowed gas at 132,250 cubic metres per day (4.7 million cubic feet per day) with 55 kilolitres (345 barrels) of 61 API condensate per day…
BHP and Mitsubishi today announced a joint takeover offer for QCT Resources Ltd at a price of A$1.20 per share. Santos owns 250.4 million shares in QCT Resources Limited, representing 36.4% of QCT Resources Limiteds issued capital. At Santos Annual General Meeting on 5 May 2000 the Company indicated that Santos has had its investment…
Santos today announced that oil production from the Stag field located in the Carnarvon Basin has increased over the last ten days following recent field development activity. Over this period gross production exceeded 30,000 barrels of oil per day (bopd) on five occasions and achieved a maximum rate of 31,500 bopd. This production rate represents…
STOCK EXCHANGE ANNOUNCEMENT Santos Ltd announces that Mr. John McArdle, Executive General Manager-Commercial and an Executive Director, has expressed his intention to retire from the Company on reaching 55 years of age in July 2001. Mr. McArdle joined Santos in 1982 following a 15 year career with Santos Cooper Basin joint venture associate, Delhi Petroleum…
Further to the Press Release dated 10 March 2000, Santos is pleased to provide further information on this acquisition. The acquisition will make a material contribution to Santos cashflow, earnings and earnings per share. While gearing will increase initially, the incremental impact will be reduced by receipt of the operating cashflows from Santos existing activities.…
This is to advise that I have informed the Board of Santos Ltd that I intend to retire as Managing Director and Chief Executive Officer at the end of September 2000 at which time I will have completed nearly 16 years in that role. At the age of 55 I consider that this is an…
The Board of Santos Ltd was informed earlier today that Mr Ross Adler, Managing Director and Chief Executive Officer, intends to retire effective 30th September 2000 for the reasons outlined in his press statement today. Mr Adler joined Santos as Managing Director in October 1984 and was formally appointed Chief Executive on 6th November of…
Santos Ltd announces that Santos Offshore Pty Ltd, a wholly-owned subsidiary of Santos Ltd, has reached agreement to jointly purchase with Woodside Energy Ltd the interests of The Shell Company of Australia Ltd in VIC/RL2, which contains the majority of the Kipper gas field in the Bass Strait. The acquisition, which is subject to customary…
Elang Oil Field Production Increase Santos Limited advises that there has been a significant increase in oil production from the Elang Oil Field which is located in the Timor Gap Zone of Co-operation. The recently-completed Elang-1/ST1 well has now been connected to the fields production facilities initially producing at an estimated 20,000 barrels of oil…
Record earnings of $219 million, up 24%. Earnings per share up 24% to a record 36 cents before abnormals. Final dividend up 2 cents to 15 cents per share, making a total 1999 dividend of 27 cents per share, fully franked Operating cash flow up 16% to a record $530m (87 cents per share), $64…
The Santos Group announces the discovery of a new onshore gas field in PEP 108 in the Victorian section of the Otway Basin. The exploration wildcat well Penryn 1 has intersected a 20m gross gas column in the Cretaceous Waarre Sandstone over the interval 1673m to 1693m. Penryn 1 reached a total depth of 1823m…
MERANJI EAST 1 Santos Ltd, as Operator on behalf of the PPL 35 Joint Venture Parties, announces a successful extension to the Meranji Gas Field in the South Australian section of the Cooper/Eromanga Basins. The gas appraisal well, Meranji East 1, intersected approximately 15 metres of gas pay in the mid Patchawarra…
CADELL 1 Santos Limited, as Operator of the TP-7 Joint Venture, advises that the Cadell 1 exploration well reached a total depth of 1425m and will be plugged and abandoned. Over the last two days the electric logging program has been completed. Wireline log and pressure data indicate a 74 metre gas column between 1248m…
STOCK EXCHANGE ANNOUNCEMENT The Board of Santos Ltd is pleased to announce that Mr. Frank J. Conroy, BCom, MBA, FAIM, FAICD, FAIBF has today been appointed a Director. Mr. Conroy, aged 57, is the Chairman of Howard Smith Ltd, St. George Bank Ltd, ORIX Australia Corporation Ltd and a Director of Futuris Corporation Ltd. He…
Approval for Legendre Development Santos announced today that the WA-1-P Joint Venture (operated by Woodside) has committed to development of the Legendre oil fields in the Carnarvon Basin, offshore Western Australia. Development of the fields is expected to cost approximately A$110 million gross (Santos share A$25 million). The Legendre fields lie 104 km north northwest…
ASX YEAR 2000 DISCLOSURE The following statement is the response of Santos Ltd to the specific questions raised of all listed companies by the Australian Stock Exchange Ltd. 1. Has your company’s assessment of its overall potential exposure to the Year 2000 problem changed materially from what the market has previously been told? If it…
Santos today announced an after tax profit for the 1999 first half of $83.6 million, $0.6 million below the 1998 first half result of $84.2 million. The Companys underlying operating result improved by $20.4 million as a result of an 18.4% growth in sales volumes. Record first half sales revenue, production and sales volumes were…
STOCK EXCHANGE ANNOUNCEMENT The Board of Santos Ltd is pleased to announce that Mr. Graeme William McGregor AO, BEc, FCPA, FCA has today been appointed a Director. Mr. McGregor, aged 60, recently retired from The Broken Hill Proprietary Company Limited where he had been an Executive Director since 1996 and the Executive Director Finance since…
Moomba Gas Plant Fully Operational
Santos Ltd advises that upon the completion of repairs to the outlet of the Moomba Gas Plant, full production resumed at 11.30 am Thursday 19 August.
Gas Supplies from Moomba Gas Plant Santos Ltd has this morning advised its customers (NGASA and AGL) who buy gas ex-Moomba that natural gas supplies from the Moomba Plant will be restricted by approximately 15% until around 1.00 pm Thursday 19 August. This follows the discovery of a small gas leak from a crack in…
Santos Limited today announced that it has commenced gas production in Victoria to assist the State in satisfying peak winter gas demand. The gas comes from a new gas processing facility at Heytesbury, 160 km south west of Melbourne, which the company has built at a cost of $9m The facility processes gas from the…
Santos Ltd, as Operator on behalf of the PPL 90 Joint Venture Parties, announces the discovery of an extension to the Pondrinie Gas Field in the South Australian section of the Cooper/Eromanga Basins. The gas appraisal well, Pondrinie North 1, flowed gas at 76,460 cubic metres per day (2.7 million cubic feet per day) from…
Santos Group, as operator of the Tumuli-1 exploration well, advises that approval has been received from the PNG Department of Petroleum and Energy for the well to be plugged and abandoned. Approval was granted on the basis of the significant structural complexities encountered and excessive drilling difficulties to reach a much deeper, high risk and…
ACQUISITION OF INTEREST IN KIPPER GAS FIELD Santos Limited announced today that it has subscribed for shares in a subsidiary of Gulf Australia Resources Limited which entitles Santos to an approximate 7.5% economic interest in Retention Lease VIC/RL2 containing part of the Kipper gas field. The Kipper gas field is located in Bass Strait in…
Record Sales Mitigate Oil Price Impact Santos today announced an after tax operating profit for the 1998 full year of $176.3 million, a reduction of 14.5% on the record 1997 earnings. Record production and sales volumes mitigated the impact of the fall in the average oil price received of 23.6% in Australian dollar terms. This…
First Santos Victorian Gas Production Santos Limited has announced that it expects to commence its first Victorian gas production in June this year. This follows the completion of a gas sales agreement with the Victorian Governments Gascor Pty Ltd. This is Santos first direct contract with a customer in Victoria. Gas will be supplied from…
Santos Ltd, as Operator on behalf of the Murta Block Joint Venture Parties, announces the discovery of a new gas field in the South Australian section of the Cooper/Eromanga Basins. The block gas exploration well, Touriga 1, flowed gas at 153,000 cubic metres per day (5.4 million cubic feet per day) with 55 API condensate…
Acquisition of Interest in Hides Gas Field Santos Ltd announced today that two of its wholly owned Papua New Guinea (PNG) subsidiary companies have acquired from a subsidiary of Oil Search Limited, subject to PNG Government approvals, a 31% interest in PDL 1 in PNG. PDL 1 contains the majority of the Hides Gas Field…
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