Takeover bid coming from Linda cook?, page-169

Hey db76

I completely agree that we should abandon that other tread asking whether Santos will ever recover. The recovery is well underway and we should be looking for a much stronger share price and maybe a takeover offer.

Here is an example of the good work that Santos is doing, as stated in the Beach monthly drilling report released today:

South Australian Oil – Cooper Basin JV
(Fixed Factor Area JV: Beach 20.21%, Santos 66.60% and operator, Origin 13.19%)
A six-well campaign to develop the McKinlay Field, located approximately 50 kilometres southeast of
the Moomba processing facility, has commenced. The campaign comprises four horizontal wells and
two shallow vertical wells and is designed to develop the McKinlay Member which is a proven
producer. The low relief nature of the structure is considered highly suited for horizontal drilling.
Field development with this technique is expected to require fewer wells relative to a pure vertical
program, with improved flow rate and ultimate recovery. The first well of the campaign,
McKinlay-12, drilled a lateral section of 1,220 metres with good oil and gas shows in the primary
target and was cased and suspended as a future producer. The second well of the campaign,
McKinlay-15, drilled a lateral section of 870 metres with good oil and gas shows in the primary target
and was suspended as a future producer.
A single development well was drilled in the Odonata Field, located on the Nappacoongee-Murteree
Horst approximately 50 kilometres south of the Moomba processing facility. Odonata-2 targeted the
Coorikiana Sandstone as a primary objective. The well encountered 6.7 metres of net oil pay and was
cased and suspended as a future producer.