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Summary

Legendre Produces Its First Oil

Woodside Energy Ltd., the Operator of the Legendre Venture in which Santos has a 22.56% interest, reported on 18 May 2001 that initial oil production from the Ocean Legend production facility commenced on 17 May 2001 from the first well. Production is predicted to steadily increase over the next couple of months to a maximum 50,000 barrels a day once the drilling program is completed.

Attached is a copy of the Woodside Energy Ltd. press release.

The participants in production licence WA-20-L and the Legendre oil fields are:

Woodside Energy Ltd (Operator)

45.94%

Apache Energy

31.5%

Santos Ltd

22.56%