Santos Limited · ASX:STO
Santos — Macquarie Securities Australia Conference 2006
10 slides from Santos's conference presentation, May 5, 2006
Slide 1: A strategy on track
A strategy on track Peter Wasow Chief Financial Officer May 5 2006 This presentation contains forward looking statements that are subject to risk factors associated with the oil and gas industry, It is beligved that the expectations reflected in these statements are reasonable, but they may be affec
Slide 2: Identify, mature and enhance core areas
ple Identify New Core Areas Asia, Middle East, USA. Mature Emerging Core Areas fadoniesia, Timor Bonaparte, PNG ae ae Enhance Mt Existing Core Areas ‘Bestern and Western Australia 2001 2003 2005 2007 2009 2011 2013 Ind res * Established infrastructure * Exploitation opportunities » Established infra
Slide 3: 2005 Cash Flow and coal seam gas projects map
2005 Cash Flow $4, 278i Carnarva) Fair pW Legend i Santos acreage wae Extent of Surat/Bowen Basins Santos CSG projects ‘Other producing CSG projects: @ Pilots Gas pipeline fat O}} Pipeline Brisbane
Slide 4: Reduce costs and accelerate coal seam methane development
Reduce capital costs Reduce operating costs Accelerate development Market acceptance of CSM Market penetration * Largest onshore driller and operator Synergy opportunities Santos infrastructure = Reserve optionality » Unique market position = Santos infrastructure = Daily rate == Monti Average:
Slide 5: Risked project outcome in nominal dollars
Risked project outcome in nominal dollars NPV,, AS9/bbI NPV, ASS/bbl After tax NPV, A$1/bb! $29 cash return $20 Royalties & taxes Operating cost! Binding & development USS40 Oil price per barrel fnet of tots @ WA OU @ WA Gas 1 Cooper Gi a East Old @ Victorian gas. ci Fairview Cooper Gas
Slide 6: Steady liquids production
With steady liquids|produ jy ese oo ONTO mi Aust O11 Aust Gas
Slide 7: Exploration program: 3D seismic and wells
» 7,000 kme of 3D seismic » Caldita appraisal well : Barossa (Lynedoch) exploration well Evans Sh0al Block exploration well East Ja 5 wells plane us Jeruk aporaica! : in 2006 = Santos (Op) 40% Shell: pt Osaka Gas /2:30%. Santos: ConocoPhillips (Op) 6 — Kllometres Legend i Santos Acreage Gas Pipeline
Slide 8: Production (net entitlement) growth from emerging core areas
Id SA a OLA Production (net entitlement) Mm Emerging core areas
Slide 9: Identify new core areas, mature emerging areas, enhance existing
HIN Kyrgyzstan nal Studies.and seismic acquisition: SE Asia heiom new country nkey in 2006, Zayas planned. 4.wells-planned Identify New Core Areas « Disciplined strategy Seeking new » Maltinie tests '@% | options to extend « Time to deliver the growth profile Mature Emerging Core Areas # TWO NeW cor
Slide 10: Assets in production, emerging and existing core areas
isal Ad ~~ a a oc fe 3 fond = a = a = a S a = in production, Assets Ei Emerging core areas uoipnpoig @ Existing core ateas 10
Santos — Macquarie Securities Australia Conference 2006 on 6ix