Equity Analysis /
Australia

AU : Santos - Alaska sanctioned while Dorado hits pause

    Adrian Prendergast
    Adrian Prendergast

    Senior Analyst - Mining and Energy

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    CGS-CIMB
    17 August 2022
    Published byCGS-CIMB

    Strong 1H22 result close to estimates, while interim dividend trailed. Alaska sanctioned and Dorado stalls, although neither core projects. More importantly STO has almost completed sale of 5% of PNG LNG (US$1.4-$1.5bn?). Maintain Add rating with positive view and unchanged A$9.30 target price.