excerpts
The project, one of the biggest industrial complexes in Australia, was tracking on time and under budget.
It will generate revenue for 30 to 50 years and support about 1200 permanent jobs.
If oil is above $US40 a barrel and the Aussie dollar at US80c, GLNG will be cashflow positive from next year.
Mr Knox believes the chairman’s review will lead to a share price revival. “It will demonstrate the real value of Santos,” he said.
Oil Search and Santos each own part of the ExxonMobil-operated PNG-LNG.
Some analysts note the takeover bid for Oil Search implies Santos’s stake is worth about $6.5 billion — or more than its entire market capitalisation today of under $5 billion.
In addition, Santos owns 30 per cent of GLNG plus has its heartland Cooper Basin and Moomba operations and assets in WA, NT, NSW, Victoria, Indonesia and Vietnam.
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