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Summary

Santos South East Asia Business Unit Created Following Completion of MIM Oil & Gas Acquisition

Santos South East Asia Business Unit Created

Following Completion of MIM Oil & Gas Acquisition

On 23rd September 1996, Santos announced its intention to acquire the oil and gas business of MIM Holdings Limited (excluding interests in Queensland and the Bonaparte Basin). The acquisition was subject to the granting of regulatory approvals and satisfaction of certain other conditions.

Santos is pleased to announce that the acquisition has now been completed following the issue of petroleum development licences for the South East Gobe Development and Bank of Papua New Guinea approval.

Following the acquisition a fifth Santos business unit, the South East Asia Business Unit, has been created to carry on the former MIM business, focussing on exploration in South East Asia.

The business unit will be headed by Mr Robert (Bob) Hall as General Manager, who will be based in Brisbane. Mr Hall was previously the General Manager of MIM Petroleum Exploration Pty Ltd. Other former MIM staff will also continue with the new business unit.

Note:

Santos South East Asia Business Unit will continue to operate from the former MIM office at Level 2, Muruk Haus, 230 Lutwyche Road, Windsor, Queensland 4030. Phone (07) 3857 7088, Fax (07) 3857 7089.