"The Surat and Bowen Basins, in which Santos holds interests in a number of permits, are located in eastern Queensland. Santos produces sales gas and gas liquids from the Surat Basin and sales gas from the Bowen Basin.
"Santos also operates the 100%-owned producing Scotia coal seam methane field as well as the Roma gas fields.
"In 2005 Santos acquired Tipperary Corporation resulting in an approximate 75% operated working interest in the Fairview coal seam gas field, located north of Roma in Queensland, together with more than 4,000 square kilometres of additional exploration acreage in the Comet Ridge area of the Bowen Basin.
"During 2006 Santos acquired the outstanding minority interests, other than Origin Energy, in the Fairview field. The three minority interests represented, in aggregate, 5% of Fairview, and the acquisition takes Santos stake to 79.5%. An extensive work program during 2006 has resulted in a significant increase in production from the Fairview field.
"Santos also acquired a small interest in the adjacent Origin Energy operated Spring Gully CSG field, as well as the remaining 15% minority interests in the Roma gas fields, taking Santos ownership to 100%."
TR
ESG Price at posting:
90.5¢ Sentiment: LT Buy Disclosure: Held
