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Summary

Santos Ltd Announces Farm-in to Offshore Otway Permit

Santos Ltd has today finalised an agreement (subject to customary due diligence) with Strike Oil NL to farm-in to permit VIC/P44 in the offshore Otway Basin.

The farm-in provides Santos with a 50% working interest in this permit and includes operatorship.

Santos’ farm-in to this permit enhances the company’s position in the Otway Basin and complements Santos’ existing onshore and offshore fields (La Bella, Minerva). It is in line with the Company’s strategy of actively pursuing opportunities onshore and offshore in this area which is well positioned in relation to markets in Victoria and South Australia.