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[sludgehound]

Santos Aussie oil co. profit -82%
Think they mean -28% in 'first quarter' this year not "the first-year this year" which is probably a Brit type scheduling phrase.
Asia down in general early on after Wallet St sprung a hole.

http://blogs.barrons.com/asiastocks/
Australian oil company Santos ( STO.Australia) said profit in the first-year this year slumped 82% to 37 million Australian dollars ( $27.1 million ) from A$206 million a year earlier.
Brent crude fell to a six-year low of $46.25 this week, down 55% from $102.28 a year earlier.
Santos said it pumped 13% more oil to 28.3 million barrels but given the lower oil prices, sales revenue decreased by 15% to A$1.61 billion . Not surprisingly, the company lost some of its operating leverage. Operating margin fell to 48% from 50% a year ago.
Santos' long-time CEO David Know said he is stepping down and Santos will carry out a full strategic review. ""We will be talking with the parties who have approached us to date with interest in various assets and other strategic initiatives," chairman Peter Coates said.
Santos recovered some of earlier losses and was down 1.5% recently. It has lost 60% of its market value in the last year.
More at Barron's Asia Stocks to Watch blog, http://blogs.barrons.com/asiastocks/

(END) Dow Jones Newswires
08-20-15 2114ET
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