Annual Report 2004 71
22. Investments in Controlled Entities (continued)
Notes
(a) Place of incorporation
ACT – Australian Capital Territory BER – Ber muda
NSW – New South Wales MAL – Malaysia
QLD – Queensland PNG – Papua New Guinea
SA – South Australia SING – Singapore
VIC – Victoria UK – United Kingdom
WA – Western Australia USA – United States of America
(b) Disposal of controlled entities
During the financial year Santos Petroleum (NZ) Limited was removed from the New Zealand Companies Register.
(c) Acquisition of controlled entities
During the financial year the following controlled entities were acquired and their operating results have been included in the statement of
financial performance from the date of acquisition:
Fair value of net
Beneficial Purchase assets at time 
Name of entity Date of acquisition interest acquired consideration of acquisition
% $million $million
Sesap Pty Ltd 12 February 2004 100 – –
Novus Australia Resources NL 1 September 2004 100 92.2 92.2
Novus UK (Kakap 2) Ltd 1 September 2004 100 35.1 35.1
The financial impacts of the acquisitions on the Santos Group and the Company are summarised below:
Consolidated Santos Ltd
2004 2003 2004 2003
$million $million $million $million
Fair value of net assets acquired
Cash (1.7) 1.3 (1.4) 1.3
Other (2.4) 10.3 (2.3) 10.3
Exploration and development expenditure 131.4 12.4 95.9 12.4
127.3 24.0 92.2 24.0
Purchase consideration
Cash consideration paid 110.6 24.0 92.2 24.0
Amount payable after balance date 16.7 – – –
127.3 24.0 92.2 24.0
During the financial year the following controlled entities were registered:
Santos Direct Pty Ltd Santos Brantas Pty Ltd
Santos Egypt Pty Ltd Santos (Donggala) Pty Ltd
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