orgasmic chart

Nice deal for Santos
It looks like it was anticipated by the market as the chart has been looking real strong for some time

This would have been a traders dream to play this one right from the bottom at the bullish triangle breakout on 10th June





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Santos involved in huge Indonesian gas deals
08:09, Tuesday, 22 July 2003

Sydney - Tuesday - July 22:
Santos is among a consortium
of gas producers that have signed 13 agreements to supply gas worth a
total of $14 billion covering a number of industries.
In terms of value and amount, these were the largest gas sales
agreements ever signed by Indonesian gas producers on a single occasion,
said Kardaya Warnika, the deputy of Indonesia's independent upstream
authority BPMigas [Badan Pelaksana, upstream oil and gas].
Gas producers met in Indonesia at week's end to inalise the
sales for state-owned electricity firm PT Perusahaan Listrik Negara,
state-owned fertilizer firm PT Petrokimia Gresik, and Singapore
electricity utility Island Power.
Australia's Santos signed a $250-mil gas SPA with PT Power
Indonesia for 100 bcf supplies (40-60-mil cu ft/day) from its
Sampang-Grati areas in East Java.
The deliveries will start in 2005 and extend for ten years.
The agreement covers the entire gas reserves of the Oyong field
in East Java, Santos said.
Under the agreements, which last between nine and 21 years, the
gas producers will supply a total 1.3-bil cu ft/day of natural gas to
the buyers, BPMigas said.
The volume equates to 10-mil mt of LNG per year, it said.
The gas producers are the US' ConocoPhillips and Amerada Hess,
Anglo-American firm BP, Australian firm Santos, Indonesian private firm
PT Exspan Nusantara, and Indonesian state-owned oil and gas company
Pertamina.
The agreements include four gas sales and purchase contracts,
one gas purchase agreement, five heads of agreement, one memorandum of
understanding, and one amendment to gas sales and purchase contract.
PLN will take most of the gas supplies for its power plants in
South Sumatra, East Kalimantan, East Java, Central Java and Jakarta.
PLN's director of power generation Ali Herman Ibrahim said the contracts
would enable PLN to cut costs, as gas is cheaper than liquid petroleum
feedstock.
Speaking on the occasion of the signing ceremony in Bali,
Indonesia's Minister of Energy and Mineral Resources Purnomo Yusgiantoro
said the agreements proved the big potential of the domestic market to
absorb the country's gas supplies.
The government would further promote the use of gas in the
domestic market, he said.
The various agreements and contracts signed are as follows:
ConocoPhillips inked a $1.1-bil gas sales and purchase deal with
Singapore's Island Power to supply the latter 590-bil cu ft from its
Corridor production sharing contract in South Sumatra over a period of
15 years.
Supplies will start in 2006 and the peak delivery volume will be
100-mil cu ft/day. The gas will be delivered via the newly-constructed
500-km Grissik-Batam-Singapore pipeline of Indonesian gas utility PT
Perushaan Gas Negara.
On the domestic front, PT Exspan Nusantara will supply 25 bcf
(10-mil cu ft/day) gas to PLTG Talang Dukuh from its Musi Banyuasin area
in the Rimau PSC, South Sumatra.
The contract will run for six years from 2003, and is worth
$30-mil.
Pertamina will deliver 32 bcf (18-mil cu ft/day) to PLTGU
Tanjung Batu from its Exspan Sanga-sanga and Semboja technical
assistance contracts or TACs in East Kalimantan, also under a gas SPA.
This contract, worth $78-mil, will start in 2003.
Amerada Hess signed a $1.2-bil gas purchase agreement with PLN
for 440 bcf (100-mil cu ft/day) from its Gresik area in East Java.
The supplies will begin in 2005 and last for 21 years.
BP inked two heads of agreements with PLN for supplies from its
West Java and Central Java producing areas.
From its Offshore North West Java fields of Muara Karang and Tj
Priok, BP will supply 679 bcf (265-mil cu ft/day) to PLN for 13 years
starting 2004.
From its Tambak and Lorok fields in Central Java, BP will supply
PLN 354 bcf (140-mil cu ft/day) for 12 years starting 2006.
The ConocoPhillips deal is worth $7.3-bil.
The supplies will extend over 17 years, starting 2006. (Source