These activities are designed to acknowledge and return the support we receive from these communities. So, 50 years on, would the late John Bonython be pleased at the Company that Santos has become – one of Australia's leading energy suppliers that is an offshore production operator, building new businesses in places like Indonesia, the US and Egypt, while retaining firm roots in Adelaide? I suspect he would. It is our job to continue to deliver on our strategy and, in doing so, keep delivering on the foresight of Santos' founders. Of course, this has to be achieved safely and with a view to the long term. In this regard, our people continue to deliver: safety performance improved again in 2004 and the publication of our first Sustainability Review demonstrates that we have adopted sustainability as a  core value. I am proud of their commitment to Santos’ success and I thank them for their efforts and achievements during a year  of considerable challenges  and change.  John C Ellice-Flint Managing Director 21 March 2005 DELIVERING THE VISION Ge a 2 Bayu-Undan drilling and production platforms,  Timor Sea. Annual Report 2004 7