Proactiveinvestors recommends

Additional Information

Market:	ASX
Sector:	Oil and Gas Exploration and Production
EPIC:	STO
Latest Price:	13.76 (0.73% )
52-week High:	16.49
52-week Low:	10.40
Market Cap:	12,241.10M

1 year chart

1 day chart

Santos

Santos (ASX: STO) is a major Australian oil and gas exploration and production company with interests and operations in every major Australian petroleum province and in Indonesia, Papua New Guinea, Vietnam, India, Bangladesh, Kyrgyzstan and Egypt.

Crude oil price rise, takeover boosts Woodside and Santos

Monday, December 08, 2008 by Proactive Investors

Crude oil rose for the first time in seven days in New York after the Organization of Petroleum Exporting Countries’ president said there was consensus for a “significant” production cut when the group meets next week.

Group president Chakib Khelil told the Associated Press a “severe” cut may be needed to halt the decline in prices. Slowing world economies will trim global demand growth to 0.2 percent next year, the International Energy Agency said Dec. 5.

Crude oil for January delivery rose as much as $1.33, or 3.3 percent, to $42.14 a barrel in after-hours electronic trading on the New York Mercantile Exchange. It was at $41.81 at 10:13 a.m. Sydney time.

Takeover rumour for Santos

ASX oil companies rose strongly in Monday trading. According to Chinese reports, China National Petroleum Corp is looking to team up with a foreign oil company to bid for Santos. Woodside Petroleum (ASX:WPL) was up 8.0%, or $2.53 to $33.01 and Santos (ASX:STO) was up 9.3%, or $1.15, to $13.30.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.