Hi All Just got off the conference call Polished performance...

Hi All

Just got off the conference call

Polished performance from the group.

What I got from it was

Able to maintain the same NPAT ie flat which is an excellent result

Santos a risk, however, remains committed

Hedging has added to the bottom line but company remains profitable without it.

3.0 mmboe production despite (pending) Tintaburra sale

50% increase production over next 5 years

Unrealised benefits from facilities upgrade (not accounted for in this report)

Debt restructuring being looked at and resolved in coming months.

Remaining flexible in their thinking and will react and manage cash / expenditure as needed to maintain strong position.

Comments about looking further afield were fair enough but I think gave the wrong impression when first mooted. This is long term planning strategy. Basically the CB will run out of opportunities is my take.

Probably more points to add but good confident briefing nonetheless.

In the meantime we have to be subjected to this type of BS trading - the transaction of 1 share says it all.

	Column 1	Column 2	Column 3	Column 4	Column 5
0	12:02:38 PM	0.6375	44	28.050	CXXT
1	12:02:38 PM	0.6375	84	53.550	CXXT
2	12:02:38 PM	0.6375	107	68.213	CXXT
3	12:01:48 PM	0.6375	120	76.500	CXXT
4	11:59:49 AM	0.6375	16	10.200	CXXT
5	11:57:38 AM	0.6375	154	98.175	CXXT
6	11:56:59 AM	0.640	82	52.480
7	11:56:27 AM	0.000		0.000
8	11:56:00 AM	0.640	582	372.480
9	11:54:57 AM	0.6375	187	119.213	CXXT
10	11:52:37 AM	0.000		0.000
11	11:52:37 AM	0.6375	177	112.838	CXXT
12	11:51:16 AM	0.640	657	420.480
13	11:49:49 AM	0.6375	152	96.900	CXXT
14	11:47:40 AM	0.6375	99	63.113	CXXT
15	11:47:12 AM	0.640	716	458.240
16	11:47:12 AM	0.640	15	9.600
17	11:46:58 AM	0.640	28	17.920
18	11:46:45 AM	0.000		0.000
19	11:45:11 AM	0.640	630	403.200
20	11:42:40 AM	0.640	5	3.200
21	11:39:37 AM	0.640	26	16.640
22	11:39:00 AM	0.6375	1	0.638	CXXT
23	11:36:46 AM	0.640	23	14.720
24	11:36:46 AM	0.6375	114	72.675	CXXT
25	11:36:31 AM	0.000		0.000
26	11:33:05 AM	0.6375	300	191.250	CXXT
27	11:32:08 AM	0.635	195	123.825
28	11:32:08 AM	0.635	414	262.890
29	11:32:08 AM	0.640	7	4.480

My opinion is that DLS is one of the best out there and will react strongly to any change in the energy sector.

Anyhow well worth a listen

Cheers
BW


_______________________________________________
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There are known unknowns. That is to say, there are things that we
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are things we don't know we don't know.