Ann: 2011 Santos Investor Seminar Presentation - , page-10

re: Ann: 2011 Santos Investor Seminar Present... js

further to your notes..

we are actually getting 0.06881 STO for every 1 ESG so it is even better..the reason being that STO guaranteed that ESG holders, not subject to the STO dividend of $0.15 in Sep, would have that reflected in the takeover metrics ie 13.23 - 0.15 = 13.08. Therefore, in a scrip takeover valuing ESG at 0.90 the ratio becomes 0.06881!

To cut a long story short, STO closing price on Friday of 13.56 = 0.933 per ESG share..

Not much but every bit counts.

As for the STO preso, I have been through it in detail and the one thing that really eclipsed everything else was the sales revenue numbers that appeared also in the qtrly..

13% increase qtr on qtr, 27% increase on corresponding period and 9% increase YTD.

These are impressive numbers and when combined with the kind of asset divestment that they are so good at, the bottom line is just outstanding...even more so at a point when virtually all other sectors are facing downgrades, margin loss, sales declines etc etc..

Big end of town will be well aware of this..

cheers