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SANTOS LIMITED — Capital/Financing Update 2015
Aug 16, 2015
65872_rns_2015-08-16_00fd4e12-9a67-4ff0-b816-05a8ed91b01d.pdf
Capital/Financing Update
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ASX/Media Release
17 August 2015
Response to market speculation
Santos notes the steep decline in its share price on Friday 14 August 2015, and subsequent media speculation that the company is planning to launch an equity raising.
Santos confirms that it has no current intention to undertake an equity raising.
Santos retains ample liquidity, with over $2 billion in cash and undrawn debt facilities currently available.
Santos continues to take positive steps to strengthen the Company’s operating position in the lower oil price environment. First half capital expenditure was more than 50% below 2014 levels and unit production costs for the first half were 11% lower.
The underlying performance of the business remains strong. Production was up 13% in the first half and continued growth is expected over the next few years, coinciding with the ramp up of GLNG.
The GLNG project has made significant progress and remains on track for first LNG around the end of the third quarter. All upstream facilities are fully operational and good progress is being made on commissioning the LNG plant on Curtis Island.
Ends.
Santos Limited ABN 80 007 550 923 GPO Box 2455, Adelaide SA 5001 T: +61 8 8116 5000 / F: +61 8 8116 5131 www.santos.com
Investor enquiries Andrew Nairn +61 8 8116 5314 / +61 (0) 437 166 497 [email protected]
Media enquiries Rob Malinauskas +61 8 8116 5918 / +61 (0) 438 862 132 [email protected]