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Although Santos Limited’s (Santos) revenues were flat in 4Q 08, its revenues for FY 2008 increased y-o-y given higher hydrocarbon prices during the period. The company reported a y-o-y decline in its hydrocarbon production volumes for both 4Q 08 and FY 2008 largely given unplanned outages and repairs at various fields. Although the company’s sales volumes increased y-o-y in 4Q 08, its revenues…

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Santos Limited (Santos) registered a y-o-y increase in its revenues in 3Q 08 reflecting higher realized hydrocarbon prices. However, total production declined on a y-o-y basis. Although Santos’ common stock price currently suggests a BUY rating, given the decline in the company’s hydrocarbon production in 3Q 08 and growing concerns over slowing demand amidst weakening of the global economy, we maintain our HOLD rating for Santos…

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Although Santos Limited (Santos) reported a y-o-y decline in its hydrocarbon production in 2Q 08,its revenues increased y-o-y given higher realized prices for hydrocarbons during the quarter. In its release, the company also reduced its FY 2008 guidance for hydrocarbon production given lower than expected levels in 1Q 08 and 2Q 08, the sale of a 40% stake in its Gladstone LNG project and reduction in its net-production entitlement in Bayu-Undan field....