sto updte

As STO's financial performance COULD be critical to the future direction of ESG here is a summary of their latest results:

Santos (STO)

STO has reported a sharp drop in annual revenue for 2009 as oil prices slumped midway through the year while its production volumes remained unchanged. Revenue for the three months to Dec. 31 fell 7% from a year earlier to $600m, bringing 2009 full year revenue to $2.18bn, down 21% on 2008. The company produced 54.4 million barrels of oil equivalent in 2009, in line with its guidance of 53 million-56 million BOE, and unchanged from the 54.4 million BOE it produced in 2008. Santos stuck to its output guidance for 2010 of 51 million-54 million BOE and its capital expenditure guidance of $2.8bn. It said its liquefied natural gas joint venture with Malaysia's Petroliam Nasional Bhd at Gladstone in Queensland remains on track to make a final investment decision by "mid-2010". STO shed 15 cents (1.1%) to $13.48

Cheers
John