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Proven plus Probable reserves (2P)

1,009

966

941

921

724

732

636

643

774

819

Production

41.1

45.6

49.2

56.0

55.7

57.3

54.2

47.1

56.0

61.0

46 Santos Annual Report 2006

As at 31 December

1997

1998

1999

Santos average realised oil price (A$/bbl)

27.42

20.95

27.57

Financial performance ($million) Product sales revenue Total revenue1 Foreign currency gains/(losses)2

778.5 817.4 3.6

769.4 806.9 2.0

944.5 958.5 0.3

Profit from ordinary activities before tax2

322.3

267.3

339.6

Income tax relating to ordinary activities2

116.1

91.0

30.5

Net profit after income tax attributable to the shareholders of Santos Ltd2

206.2

176.3

309.1

Financial position ($million) Total assets2 Net debt2 Total equity2 Reserves and production (mmboe)

4,036.2 1,114.2 1,919.0

4,236.1 1,280.0 1,939.2

4,338.7 1,301.1 2,056.7

112

81

34

190.1

180.7

78.1

1,497.1

1,459.7

1,478.4

1,465.0

1,500.9

2,462.8

2,769.1

1,515.0

1,480.8

1,498.0

1,478.7

1,515.2

2,475.9

2,784.6

2.7

0.2

(0.7)

(7.9)

2.6

(3.8)

0.8

42

26

18

19

16

22

25

100.1

93.4

133.1

136.4

125.6

187.0

258.5

10-year summary 1997–2006

Delineation and development3

179.7

158.1

116.8

Buildings, plant and equipment

205.4

165.7

102.5

2000

2001

2002

2003

2004

2005

2006

46.54

45.53

44.74

43.59

51.83

73.83

89.35

4,659.8

5,048.7

5,320.8

5,218.3

4,836.6

6,191.3

6,902.9

866.6

1,060.8

1,162.9

897.6

1,133.3

1,598.9

1,449.7

2,310.9

2,726.6

2,863.9

3,087.9

2,357.8

2,964.0

3,355.5

187.1

308.1

308.8

519.0

672.7

666.1

865.5

153.5

258.7

319.0

94.9

131.1

106.0

182.1

Exploration3 Wells drilled (number) Expenditure ($million) Other capital expenditure ($million)

725.9

627.6

493.3

430.9

518.8

1,133.5

964.7

239.1

181.7

171.2

103.9

164.1

371.4

321.3

486.8

445.9

322.1

327.0

354.7

762.1

643.4

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