Santos Ltd T.STO

Primary Symbol: STOSF

Energy Oil & Gas Integrated

Santos Limited is focused on three regional business unit, including Cooper Basin, Queensland and New South Wales (NSW) and (PNG), now form the Eastern Australia and PNG Business Unit, Northern Australia and Timor-Leste, and Western Australia now form the Western Australia, Northern Australia and Timor-Leste Business Unit and Alaska is the third regional Business Unit. Supporting these three business units are two functional divisions: Santos Energy Solutions and Upstream Gas and Liquids. The Cooper Basin produces natural gas, gas liquids and crude oil. Gas is sold primarily to domestic retailers, industry and for the production of liquefied natural gas, while gas liquids and crude oil are sold in domestic and export markets. Its GLNG project in Queensland produces liquefied natural gas (LNG) for export to global markets from the LNG plant at Gladstone and is also sold to the domestic market. Northern Australia and Timor-Leste is centered on the Bayu-Undan/Darwin LNG (DLNG) project.

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Santos Ltd > Another Down Day

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Comment by terroiron Dec 10, 2012 9:01am

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Post# 20706556

RE: Another Down Day

Whew! Actually picked up a boatload of Spartan on Friday. If I were Irish I'd say it was luck, but I am not so I'll say it was circumstantial, by tax loss selling PRY while paying a small premium for STO. Looks like the market had the premium right.

Now I am ambivalent. The $12.5 million payment to PRY will help defray some of the recently expended capital budget and force it back to the growth strategy. I just hope they don't bid up the competing offer too much, could dilute my PRY position. At the same time this process will have put PRY on the radar and there could well be a bid for PRY...matter of fact why didn't the STO bidder go that route?

Interesting to say the least.

Terr

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