Santos Limited

The Australian share market ended lower on Friday, dragged by the big miners, as global demand worries hit the prices of oil and base metals. The benchmark S&P/ASX200 index fell 52.3 points, or 1.37 per cent, at 3,761.6, while the broader All Ordinaries index lost 49.3 points, or 1.3 per cent, to 3,755.4. Resources stocks are expected to gain as commodities prices were firmer. The Australian Securities and Investments Commission will lift a ban on covered short-selling of financial stocks effective from the opening of trade today.

Yesterday the Australian share market ended slightly lower dragged by financial stocks. The benchmark S&P/ASX200 was down 10.7 points, or 0.28 per cent, at 3813.9, while the broader All Ordinaries had lost 4.2 points, or 0.11 per cent, to 3804.7.

Beach Petroleum Limited (ASX:BPT)(PINK:BEPTF) The drilling report for the week ending 20 May, 2009. The Ensign 30 rig has commenced its move to Tumby-1 in PEL 92. The well is expected to spud on 26 May. Interests in Tumby-1 are Beach Petroleum Ltd (75%) and Cooper Energy Ltd (25%).

The Australian share market showed a quiet response to the federal budget and closed in thin trading on Wednesday. Meanwhile, a growing list of companies seeking capital raising also absorbed attention from investors. The benchmark S&P/ASX200 index fell 21.1 points, or 0.54 per cent, at 3856.1, while the broader All Ordinaries index dropped 21.1 points, or 0.55 per cent, to 3842.5.

Beach Petroleum Limited's (ASX:BPT)(PINK:BEPTF) drilling report for the week ending 13 May, 2009.

The Australian shares ended marginally higher last Friday. The benchmark S&P/ASX200 index was up 3 points, or 0.1%, to 3941.7, while the broader All Ordinaries Index rose 7.5 points, or 0.2%, to 3919.6.

The Australian share ended slightly lower on Wednesday despite strong lead on Wall Street. The market is still seeking direction amid global volatility. The benchmark S&P/ASX 200 index was down 9.2 points, or 0.25 per cent, to 3668.2, while the All Ordinaries fell 5.9 points to 3627.2.

South July-1 ST1 reached a final total depth of 3473 metres in the Yusr sands of the lower Rudeis Formation. As there were no hydrocarbon shows and electric logs indicate the reservoir objective Yusr Member to be water saturated, the well is being plugged and abandoned. Interests in the sidetrack are Beach Petroleum (Egypt) Pty Limited, 33.33% and Dana Petroleum (E&P) Limited, 66.67%.

Mosaic Oil NL (ASX:MOS)(PINK:MSAOF) has today signed an agreement with Santos Ltd (ASX:STO) to acquire Santos' interest in several production licences with the associated pipeline licences, production facilities, gas sales contracts and exploration permits in the southern Surat-Bowen Basin. The agreement has an effective date of 1 January 2009.

Yesterday Aussie shares closed slightly lower after the massive fall in the US market. The benchmark S&P/ASX200 index ended the day down 0.6%, or 22.3 points, at 3582.1, while the broader All Ordinaries index fell 0.6%, or 21.9 points, at 3532.3. The local market has become more immune to Wall Street’s negative leads in recent days.