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Summary

Acquisition of Gulf Australian Hydrocarbons Limited

ACQUISITION OF GULF AUSTRALIAN HYDROCARBONS LIMITED

Santos Ltd announced today that it has purchased Gulf Australian Hydrocarbons Limited from Gulf Australia Resources Limited.

The interests of Gulf Australian Hydrocarbons Limited include a 1.2% interest in the South West Queensland Gas Project and related interests in Authority to Prospect 259P. The acquisition of these interests will complement Santos existing and on-going investment in the development of the gas reserves of South West Queensland for supply to existing and prospective customers in South East and North West Queensland.