Santos Grand Sale, page-5

With all this talk of cash requirements it got me thinking about our outstanding options, although I doubt they will help us in the near term.

According to the Annual Report (18(f)) there was a 15M tranche that would have expired 2 weeks ago that at 50c would not have been taken up, and there is another 16M which will likely expire in the coming month that I doubt will be exercised. Only another 40k at 60c in the rest of the FY.

Imagine if we can prove up enough revenue from the existing production from Santos’ 50% that it would cover the interest, suspect Macquarie would perhaps like a bit more action… must admit I’m not keen on further dilution though.

In other good news, seems the GLNG project delivered it’s first shipment of LNG today…

http://www.copyright link/business/energy/gas/santos-ships-first-cargo-from-glng-venture-in-qld-20151015-gkagqb

“Santos's most senior executives and Queensland Premier Anna Palaszczuk have hailed the departure of the first liquefied natural gas cargo from Santos' $US18.5 billion ($25 billion) GLNG venture as a milestone in the emergence of Queensland as one of the world's biggest gas exporters, despite the slump in prices that has slashed expected revenues and royalties from initial deliveries.

The Seri Bakti, carrying a cargo worth about $40 million, sailed from Curtis Island in Gladstone harbour on Friday morning, starting a 10-day journey to Incheon in South Korea. The LNG buyer, Korea Gas Corporation, the world's biggest importer of the fuel, is a 15 per cent owner of the GLNG venture, which started production last month.”