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Santos surges to record on Indonesian oil potential
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Date 26/11/2004
Author Barry FitzGerald
Source The Sydney Morning Herald --- Page: 26
Speculation regarding Santos's Jeruk oil prospect helped push thecompany's shares up $A0.31 on 25 November 2004, to $A8.81. Jeruk issituated in waters at a depth of 44 metres, approximately 42 kilometres fromSurabaya, Indonesia. Santos originally rated Jeruk as potentially containing 170million barrels of oil. However, some market watchers have suggested theprospect could be a 250-million-barrel find. Santos holds a 50 per cent interestin Jeruk. A rise in oil prices back towards the $US50-a-barrel mark has alsoassisted Santos shares in Australia