Santos Limited · ASX:STO
Santos — Investor Day (November 2003)
42 slides from Santos's investor day presentation, Nov 26, 2003
Slide 1: Gas Commercialisation & Marketing
a ye / Gas Commercalisation & Marketin Disclaimer & Important Notice J unless otherwise Stated, / Santos
Slide 2: World Gas Markets are Changing
World Gas Markets are Changing E&P Z Liquefaction j Shipping 7% Regasification 7 Customer i production Santos Now Works in 5 Core Markets f
Slide 3: Gas on Gas Competition
Gas on Gas Competition New mining/ y indust international: export focus. 4 Bis: Prices driven -by- ENG competition: iF industria 3. New ia Bs a a By € & eo 8 oi a - 2 a Br ts Eastern Austral é s & | 3 5 8 e 2 & “ § al la * Eastern Austral New Developments:
Slide 4: Western Australian Gas Market
Western Australian Gas Market | | j CD : y i [doh Brookes] _ i Gokifields ; 34 PI pa | Midwest 3 PI pa
Slide 5: 2001 Report Card
2001 Report Card Santos
Slide 6: Contracting More Gas
Contracting More Gas Commercialisation: A Race To The Customer BO Bina
Slide 7: Commercialisation: A Race To The Customer
Commercialisation: A Race To The Customer Recent Price Trends are Positive
Slide 8: Longer Term
Longer Term i Western strata 7 eK WASTER: BH05 Eastern Australian 1 Mates j
Slide 9: Disclaimer & Important Notice
Disclaimer & Important Notice J unless otherwise Stated, / Santos
Slide 10: Bayu-Undan
Bayu-Undan PHOENIX P ROSPECT 345mSS (168 km2) | | Gas Recycle Project ‘Drilling, Production & — Processing Platform {BUDPP) Compression, Utilities & Quarters Platform {BU-CUQ) Welthead Platform Bayu-Undan Upstream Development Concept
Slide 11: Gas Recycle Project
Gas Recycle Project Me
Slide 12: FSO Liberdade Drilling
ease FSO “Liberdade” Drilling
Slide 13: Project Milestones & Achievements
Project Milestones & Achievements Darwin LNG Bayu-Undan gas expo
Slide 14: Pipeline
Pipeline
Slide 15: Bayu-Undan Production
Bayu-Undan Production
Slide 16: Disclaimer & Important Notice
Santos . Disclaimer & Important Notice J unless otherwise Stated, / Santos
Slide 17: Gas is a key theme in our vision for Indonesia
Gas is a key theme in our vision to build a new core business for Santos in Indonesia SAMPANG PSC ‘Ovohig Bevelopment Santos
Slide 18: A Period Of Progress
A Period Of Progress 2001 Seminar Outlook 2003 Seminar Results Commercialise Oyong discovery | « Oyong GSA signed in July 2003 Ji) Drill Mateo prospect * Maleo GSA pending Commercialise Bentu gas * Bentu monetised in Nov 2003 « Investigate new focus areas « Farmed into Kutei deep water acreage « Acq
Slide 19: Domestic gas demand is accelerating with removal of subsidies
Bomestic gas demand is accelerating with the removal of subsidies Domestic Gas Prices Se of Oil Price arity j Gas is now price competitive and displaces more expensive imported products Ae Be Loe sy MG iasiese (ais
Slide 20: Strategic acreage position offshore East Java
Santos has established a strategic acreage position offshore East Java \ 2004 First gas as early as 03 2005
Slide 21: Maleo Gas Development
Maleo Gas Development | 213 to 315 bet gas reserves - Attractive Cost Metrics
Slide 22: Sumatra gas has been successfully monetised
Sumatra gas has been successfully monetised Summary Strategy and Focus Competitive Advantage Exited non core assets Renewed focus on building 2 new core gas business in East Java Strong market driven gas value hypothesis » Qyong and Maieo race to first production # Atreage position & exploration : A
Slide 23: Slide 23
Slide 24: Disclaimer & Important Notice
Disclaimer & Important Notice
Slide 25: Southern Business Unit Report Card
Southern Business Unit : Southern Business Unit - Report Card ) aoe [2 2001 Seminar Outlook —_| 2003 Seminar Results A Deep «Examining several options | « Sucgessta) bids water oil In southern Australia y * Casifio del jinested at 210 2 2P. Gross » Minerva online O3 04 * Achieved 14 P} pa, and produ
Slide 26: Expansion Into Otway/Sorell Basins
Expansion Into Otway/Sorell Basins Results To Date 2 And Forward View aes, Goes Potential 6. ABENCUONER OF LOO ache)
Slide 27: Southern Business Unit Asset Portfolio
/ Onshore Gtway PEP1S3/154 Santos ” Patricia Bateen VIC/L21 OMY: [Minera Vis 2 BER Casino. VIC/P44 Santos: Sule ViCRs OM / Kipper VIC/RL2 Ess0 Asbella Vick 7 BERR: 7; Golden Beach VIC/RLL Santos 7, Total (P3) Southern Business Unit Asset Portfolia Interest ZOOL SE 20% 10% 50%: BB 14% ** 10% Proved &
Slide 28: Casino – Market Leader in Commercialisation
Casino — Market t Leader i in 1 Commercialisation Deep Water ~ Exploration Play Trends do ing rogran | 7 scheduled (or 43 D4 (Call
Slide 29: Gippsland – Production & Marketing
Gippsland ~ Production & Marketing Golten Beach | Drill deep water prospects and commence program to delineate and develop Leverage position in the Otway/Sorell Basins to optimise commercial position and gain leverage from partners Project manage Casino to commercial reality, and leverage adjacent o
Slide 30: Southern Business Unit – Summary
Southern Business Unit ~ Summary
Slide 31: Disclaimer & Important Notice
_Rod Rayner 4 Business vi i Santos . Disclaimer & Important Notice a ines otherwise raed Santos
Slide 32: Location Map west of Darwin
Location Map 200 kin west of Darwin _ Water depths up
Slide 33: Petrel Tern Commercialisation
Petrel Tern Commercialisation Santos
Slide 34: Petrel Tern Profile
Petrel Tern Profile sment A$600m to construct and Gevelop Petrel field Evans Shoal
Slide 35: Evans Shoal Commercialisation
Evans Shoal Commercialisation aval uation tential for
Slide 36: Timor Gas
Timor Gas
Slide 37: Disclaimer & Important Notice
Disclaimer & Important Notice i peferences te dollars, a Ors ee othervige Stated Santos
Slide 38: Mutineer-Exeter
Mutineer-Exeter Management Approach Month Number 123 4 5 6 7 #8 9 10 11 £2 [3 1a 15 16 17 18 19 26 21 22 23 24 28 ion” Gag iti” lgate neh Sales athe eae e 4% ar Sanction CONCEPT SELECT eG ; Concept PA Yoligate Review Review Raview Project Sanction Traditional “FEED” deliverables /activities undertak
Slide 39: Field Development Layout
Field Development Layout Santos Contracting Strategy - Matrix : Concept Deen Design: Construction [installation (Operations //
Slide 40: Progress Since October - MT Fairway
Progress Since October - MT Fairway Debio aidy conan jot ahipyec Wy, ae ra
Slide 41: MODEC Venture
MODEC Venture 11 Proposed Drilling Sequence & Minimum Horizontal Well Lengths (At 6 November 2003)
Slide 42: Provisional Drilling Sequence
Provisional Drilling Sequence Bounty? 3 Biue Denotes Top Hole Bring Denotes In-reservalr Drilling i Denotes Well Completion: Denotes WellTesting Mut,€ Mut,O But, Botut A n horizontal welf length requirement, and adjust Mutineer heel positions. espana rmensonnunIRaNTRSNERUTerU ‘Dellling & Completions