Santos Limited · ASX:STO
Santos — Investor Day (November 2005)
18 slides from Santos's investor day presentation, Nov 30, 2005
Slide 1: Investor Seminar 2005
Investor Seminar 2005 a ee bid Moa aa John Ellice-Hlint Managing Director 30 November 2005 Approach to regional studies: Updateon focus regions: Kyrgyestan, Egypt, USA A Progress ontwe Indonesian development projects Update on Jeruk appraisal progrant ‘Himes Bonaparte exploration and positioning: Ex
Slide 2: Australian based energy company, operating internationally
« Australian based energy company, operating internationally « Net daily production of 600 mmcf of gas & 60,000 bbl of liquids » 616 producing oll and gas fields, 462 operated » 193 wells drilled in 2005, 313 planned in 2006 a Market capitalisation of approximately A$6.7 billion and some 80,000 shar
Slide 3: Spending trails cash flow
2 Spending trails cash flow by 15% overall « But total outlays surge * Driven by higher costs and more difficult reservoirs Tote) Capital Sutlays Bpevelnngeet Ofxytoratian hes « Spending on production growth, reserves fife down « Exploitation strategies in fate stage « Decline in legacy business « E
Slide 4: and) Is Ci
and) Is Ci Caidita Discovery: ee eae John Brookes startup © Tipperary acquisi B-G liquids start up Bayu-lindan sanction er ee ace » Three SE Asia eg oe i Australia, Indonesia & Timor Bonaparte « Dominant position in one central, south ot south east Asian or north African basin + Material exploration
Slide 5: North Africa, Central & SE Asia, USA
North: Africa, Central & SE Asia, USA. indonesia, Timnor/ Bonaparte, PNG: bastern Australia conventional ags and olf, CSG Western Australia gas and oi 2001 2003 2005 2007 2009 2011 2013 see, Hurricane, Hit Aman, Henry, Caldita, Cooper Basin Gas prices, Casino incremental sales, John Brookes, gas swa
Slide 6: Drilling Activity
Drilling Activity Oe Prices 2004 2002 2002 2004 2005 2006 Cl Santos Operated Gffshore | 1 Mon Operated Gtishere (1 Santos Operated Gushore I Non Operated Onshore =O price i 18 ie fe Ax ors lodusiry 95 ys industry: 19 yrs Industry 22 is industry 2A YOMGUSIEY experience experience experience experienc
Slide 7: Corporate & People
Corporate & People Operating with a view of long term sustainability as an energy company » Sustainability as a core value Driving continuous improvement Martyn Eames Viee President Corporate & People 30 November 2005 Tag Stary:
Slide 8: Benefits
f Ve 5 Benefits i « Provides a deep Social understanding of risks & the impact of our « Community : operations « People « Enables better business decisions » Improves operational performance
Slide 9: Greenhouse
Greenhouse « Land use » Culture change » EHS Management System Safety performance OO crore .. APPEA 1H 05 63 Santos
Slide 10: dun Sepod — Dec Od
dun 04 Sepod — Dec Od COMPLIANT GooD PRACTICE Mar 05 dun 65 Sep Gs Bec 05 Mii COMPETITIVE SUSTAINABLE ADVANTAGE entation (2006) (2005) Change over time
Slide 11: Sustainability is a core value for Santos
» Sustainability is a core value for Santos » Integration into day-to-day business has delivered significant value » Strong governance systems are already in place a fxternal reporting improves transparency & builds trust with stakeholders The sustainability framework will provide an ongoing consist
Slide 12: Core Areas
Core Areas ae des ‘ Peter Wasow Chief Financial Officer 30 November 2905 «No 1 in production and re: * Established infrastructure * Exploitation opportunities * Asset diversity + Established infrastructure * Acraage position + LNG infrastructure * Exploration success & acre + New core area, material
Slide 13: OUTCR:
OUTCR: Legend Ah Basi OLMing: Production
Slide 14: say ol
say ol Apis Cacao nes) IP Reserves dine
Slide 15: Marathon |
S 2 Marathon | la idarko: Premigt’, B) is®aon Cost as % of Total Capital Cost Develops fon nent Span ipeatey al 50% A ge Murohy _ Cam Development Spending - 38% 30% BOY 50% Exploration Cost a5 % of Total Capital Cost ffs, Gantos analyds ‘Chesapeake! Newtietd. Gi) (@). Pogo. i 0G 5M o, 1eH : 4) 26 ao
Slide 16: Good Performers
# Good Perlorne Poor Perfarmers 0% BM. Ab 1 Production Growth (Annual Average 6} Routeet Herald, Company repaets, Saitas analysis Production Growth (Annual Average %) Hitald, Company nepiets, Santas analysis Strong recycle ratio. and Bnancial discipline fas 2a 30 cm LT Debt to 1P Reserves ‘(Annual A
Slide 17: Operating cash flow, free cash flow and capex
2006: 2007 2008 2009 2018 Operating cash flow Eige Free cash flow Capex Forecasts at consensus oll prices, Source: First Catt 2007 2008 2009 2010 Opérating cash flow Bl Free cash flow Capex Forecasts at consensus ail prices. Sotirce: First Calf
Slide 18: Time to deliver the growth profile
. : « Disciplined strategy Seeking new « Multiple tests > _ options to extend 4 Time to deliver the growth profile « TWO New core areas : . Captured growth 4 Multiple discoveries options for the near » Strong acreage and mid term + Strong competitive position » Multiple Investment options 2 * Strong