Santos Limited · ASX:STO

Santos — JPMorgan Annual CSM Corporate Access Day 2008

26 slides from Santos's conference presentation, Oct 23, 2008

  1. Slide 1: ASX cover note: JPMorgan Annual CSM Corporate Access Day Presentation

    Santos Ltd A.B.N. 80 007 550 923 Ground Floor Santos Centre 60 Flinders Street Adelaide SA 5000 For personal use only GPO Box 2455 Adelaide SA 5001 Telephone: 08 8116 5000 Facsimile: 08 8116 5623 To: Company Announcements Office ASX Ltd From: Company Secretary Date: 23 October 2008 Subject: JPMorgan

  2. Slide 2: JPMorgan Coal Seam Methane Corporate Access Day

    For personal use only JPMorgan Coal Seam Methane Corporate Access Day Stephen Kelemen 1 23 October 2008

  3. Slide 3: Disclaimer & Important Notice

    Disclaimer & Important Notice For personal use only This presentation contains forward looking statements that are subject to risk factors associated with the oil and gas industry. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a range

  4. Slide 4: The Santos Strategy

    The Santos Strategy Using quality assets, Santos will safely deliver: For personal use only Reliable base business in Australia ƒ Eastern Australia: price and volume growth ƒ Cooper Oil: high-value scaleable exploitation opportunity ƒ WA: exploit asset position Significant growth in LNG ƒ GLNG: tran

  5. Slide 5: World Scale Energy Resource

    World Scale Energy Resource 1970 2007 Partial list for comparison For personal use only Soviet NOC IOC Russian NOC Reserves Full IOC Access (78%) (85%) Russia 300 Canada 164 ME US 37 28 743 177 Iran 90 Algeria 159 Malaysia CSG +40bboe 33 Qatar 16 Resource potential Nigeria 17 Proven gas reserves (bb

  6. Slide 6: Overview of CSG Assets

    For personal use only Overview of CSG Assets 5

  7. Slide 7: CSG Potential

    CSG Potential CSG is more than half Eastern Australia 2P reserves… For personal use only Coal Seam Gas as a Proportion of Historic CSG Production Eastern Australia's 2P Reserves 24,848 PJ (USA vs Australia) 1800 1600 1400 Annual Production (PJ) 1200 Conventional Gas Queensland CSG 11,977 PJ (48%) 12

  8. Slide 8: Santos' Leading CSG Acreage Position

    Santos’ Leading CSG Acreage Position Denison Greater Scotia For personal use only Bowen Gladstone „ 6500 km2 (gross) Basin „ 2500 km2 (gross) Queensland „ Exploration stage „ 27 TJ/d production „ Same coals as Fairview „ Production since 2002 Greater Roma „ 7700 km2 (gross) „ High quality resource G

  9. Slide 9: Santos CSG Assets are World Class

    Santos CSG Assets are World Class Fairview, Roma and Scotia are amongst the world’s best… For personal use only Gas Coal Field Permeability Saturation Flow Rate Spacing GIP/Well Content Thickness Fairview zzz zzz zzz zzz zzz zzz zz Roma zz zzz zz zz zz zz zz Scotia zzz zz zzz zzz zz zzz zzz Gunnedah

  10. Slide 10: CSG Reserve Development – Key Milestones

    CSG Reserve Development – Key Milestones For personal use only PROPECTIVE CONTINGENT 3P 2P 1P RESOURCE RESOURCE ƒ Core-holes ƒ Pilot wells ƒ Geological ƒ Geological ƒ Core-holes ƒ Core-holes ƒ Development wells review review ƒ Pilot wells ƒ Field development ƒ Seismic Qld 21,000 PJ 7,523* PJ 2,911*

  11. Slide 11: Production Delivery

    Production Delivery CSG production capacity is not constrained by well capacity For personal use only Total Santos Operation CSG Sales Capacity Growth (gross) 180 160 Fairview-Wallumbilla 140 Completed Compressor Pipeline Tie-in & Fairview 120 Site 2 Compressor Site 2 Acquisition Expansion expansion

  12. Slide 12: GLNG

    For personal use only 11 GLNGTM

  13. Slide 13: GLNG JV - Upstream Assets

    GLNG JV - Upstream Assets TM Fairview For personal use only ƒ Santos 47.7%* working interest Emerald ƒ Acquired by Santos in 2005 with an Proposed Gladstone established production history of over Pipeline 14 years Arcadia ƒ Santos 47.7%* working interest Arcadia Roma Fairview ƒ 60%* Santos owned and

  14. Slide 14: GLNG Dimensions

    GLNGTM Dimensions For personal use only 425 km pipeline ƒ 180 Ha site ƒ 10 million tonnes pa with 3 trains Fairview ƒ LNG shipment every ƒ 1.5 km underwater Scotia 6-7 days per train pipeline crossing ƒ 230,000t of pipeline steel Roma ƒ 280+ project staff in Qld ƒ 24,500 km2 CSG acreage ƒ One recrui

  15. Slide 15: Beyond the GLNG Project

    …Beyond the GLNGTM Project For personal use only Green Benefit Water ƒ 50% less emissions ƒ Community ƒ 3-4 million trees ƒ Commercial ƒ Beneficial water use ƒ Agriculture ƒ Livestock ƒ Catchment Qld LNG Excellence Community ƒ World’s 1st CSG to ƒ Qld economy >$2b LNG ƒ Regional focus ƒ Geoscience e

  16. Slide 16: The Highlights

    The Highlights… For personal use only ƒ CSG is a global scale resource ƒ Reserves and production track record being established ƒ Major projects attracted to the industry ƒ GLNG is one of the largest integrated projects in Queensland’s history 15

  17. Slide 17: Fairview & Roma

    For personal use only Fairview & Roma

  18. Slide 18: Fairview Activity

    Fairview Activity Ongoing development at Fairview… For personal use only Hillyvale Hillyvale11(prop.) 2008 Drilling Programme (prop.) ƒ 9 core-holes (including Arcadia) Emu EmuNest Nest11(prop.) (prop.) ƒ 32 development and appraisal wells Waterview Waterview11 ƒ Productivity down to 1200m Precipice

  19. Slide 19: Roma Appraisal

    Roma Appraisal Whilst it is early days at Roma… For personal use only Appraisal programme Hermitage Pilot Coxon Creek Pilot ƒ Commenced in September 2007 10 Km ƒ Drilled to October 2008: - 25 core-holes - 56 pilots ƒ Two pilots in operation - Coxon Creek Pilot – 12 months production - Hermitage Pilo

  20. Slide 20: Fairview Production

    Fairview Production Production from the First 10 Fairview Wells 11 Fairview Wells Commenced Production Jan 2002 to June 2002 For personal use only 14,000 12,000 Gas Production (mscf/d), Water Production (bwpd) 12,000 10,000 10,000 mscfd and bwpd 8,000 8,000 6,000 6,000 4,000 4,000 2,000 2,000 - 0 De

  21. Slide 21: Outstanding Drilling Performance

    Outstanding Drilling Performance Since Q3 2007 drilling time has halved For personal use only 8 7 6 Drilling time: days/well 5 4 3 2 1 0 Q3 2007 Q1 2008 Q2 2008 Q3 2008 Wells Drilled 21

  22. Slide 22: Gunnedah Basin

    For personal use only Gunnedah Basin

  23. Slide 23: Gunnedah Basin TCF prospective resource

    Gunnedah Basin 40 TCF prospective resource… For personal use only ƒ Secured access to majority acreage positions New South Wales (up to 21,000 km2 gross) ƒ Farmin agreements with Gunnedah - Australian Coalbed Methane PEL 450 PEL PEL 1 - Gunnedah Gas PELA 12 93 Coonabarabran Quirindi - Macquarie Ener

  24. Slide 24: Gunnedah Geology

    Gunnedah Geology For personal use only ƒ Basin consists of troughs separated Bellata Trough by shelf/ridge areas Basin Maules ƒ Focused on Bando, Tooraweenah & Narrabri Murrurundi Troughs and adjacent Pilliga Sub- shelfs Trough Bohena Basi Trough ƒ Available well data n Gunnedah - Thick coal (10-60+

  25. Slide 25: Exploration Programme

    Exploration Programme Core-holes For personal use only Gwydir Seismic fi Narrabri Survey ƒ 20-30 core-holes Coal Seam Gas ƒ New purpose built rig commenced core-hole operation July with 1500+m capacity Kahlua 1 Gunnedah fi ƒ Primary CSG targets fi Tamworth fi - Blackjack and Maules Creek coal seams

  26. Slide 26: Contact Information

    Contact Information For personal use only Registered and head office Andrew Nairn Share Register Group Executive Investor Relations Adelaide Level 10, Santos Centre Ground Floor, Santos Centre Direct: + 61 8 8116 5314 60 Flinders Street Facsimile: +61 8 8116 5131 Adelaide, South Australia 5000 Email

Santos — JPMorgan Annual CSM Corporate Access Day 2008 on 6ix