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Analyst backs Santos to reach $16

TWO pieces of promising news for Santos in the Browse Basin have prompted Macquarie Private Wealth to maintain its positive outlook for the company, despite its misgivings about potential glitches at the GLNG project.

Santos shares jumped 4% on Monday after it announced 61m of net pay at the Crown-1 well in WA-274-P. MPW said that while the pay was relatively low, the discovery appeared to be across three fairly well-defined...

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