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On 7 June Santos Limited (Santos) announced that it had reached an agreement with Medco Energi Internasional Tbk (Medco) to acquire part of Novus Petroleum Limited’s (Novus) Indonesian interests and all of Novus’ Cooper Basin interests, subject to certain conditions.

Santos announces that it has today executed formal agreements with Medco consistent with the previously agreed terms, with completion on the agreements subject to certain approvals.