snto - Santos

Santos is Australia’s largest onshore oil and gas
producer. It is a world-scale specialist oil and
gas company with assets of over $4 billion and
annual production of over 45 million barrels of
oil equivalent.
The core of Santos’ business is a majority
working interest in the Cooper/Eromanga
Basins oil and gas fields located in central
Australia. Santos produces gas, ethane, oil and
gas liquids from the Basins and is the operator
of production and exploration operations.
Australia
South East Asia
United States
Santos Ltd ACN 007 550 923
Incorporated in Adelaide, South Australia on 18 March 1954. Quoted on the official list of the Australian Stock Exchange Ltd and also
the New Zealand Exchange. Santos American Depository Receipts issued by Morgan Guaranty in the USA are sponsored and are
quoted on the NASDAQ system in the USA.
Contents
1998 Report to Shareholders
Aims, Values, Strategy, Highlights ..........2
Results Overview .....................................4
Chairman’s Overview...............................5
Managing Director’s Review ...................6
Review of Performance
Financial Performance ....................12
Exploration.......................................14
Development ...................................16
Reserves...........................................18
Santos’ Australian Gas Business...19
Production........................................20
Environment ....................................21
Board of Directors..................................22
Business Units Operations....................24
10 Year Summary...................................28
Production Statistics..............................29
Santos Group Interests..........................30
Glossary ..................................................32
Corporate Governance ..........................33
Directors’ Statutory Report ...................38
Financial Report .....................................42
Stock Exchange and
Shareholder Information.......................76