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              [html]<thead><tr><td>In 2004, Santos continued its normal business of actively in the ability to the ability to the controlled to the controlled the diversities of non - core assets and the acquisition of assets that fit well with existing Santos assets of can as</td><td>Petrolinum Australia Ltdraining Australia Length ( in the sacrord fail of inthibits, Santos concluded the sale of ills non - core onshore ( Itxay Basin Resistance, Itsing II, II, II, II, II, II, II, II, II, II, II, II, II, II, II, II, II, II, II</td></tr></thead><tbody><tr><td>Santos realised an after - tax profit of $ 47.4 million on oil. and gas asset sales and will continue to high - grade its portfolio on an ongoing basis.</td><td>In addition, an exploration joint venture was formed with ConocoPhillips in the NT / P61 block offshore Darwin, Northern Territory, to drill, the Caldita well</td></tr><tr><td>Santos entered linto an agreement with PT Medico during the first hair of 2004 to acquire some of completely and completely assessment of completely assets conditional on the success of PT Medico ' s takeover offer for Novus, which was ulti</td><td>and provide Santos with access and provides. There within the telecham Point LME facility. This deal. Further erhances Santary Infrastructure strategy to Severage its position within vital. There within the share therape within vital</td></tr><tr><td>Specifically, Santos announced supports and expectations and executed formal agreements to acquire an additional 4.75 % of the Basis, SB ’ s of the Branlas PSC and 9 % of the Eakap PSC from and 95 % of the Eakap PSC from and 95 % of the Each of ther</td><td>During the third quarter, Sarrious compared with an interests to 50 % in both the Patricla - Baleen and the Sale gas flelds through the acquisities from Thinity Gas Resources of antibiotics of antibiotics and Patriclassing Patriclassino</td></tr><tr><td>majority of the assets, with payment for the remaining 2.75 % of Kakap PSC expected to be made in the first quarter of 2005.</td><td>associated processing facilities in eastern Victoria and an additional 15 % interest in the Sole gas field. C - skee -------------------------------------------------------------------------------------------------------</td></tr><tr><td>This acquisition was an Important plece in the strategic puzzle to tie up access to follow - up potential from the successful exploration at Jenuk and to provide a production base for the newly established Endonesian</td><td>Santos earned its 30 % additional equity in the Patricla - Baleen gas field by meeting Initially ' s commonly commonly controls on the Baleen 4 well which was drilled successfully as a sidetrack well of Baleen 3, Santos will earn its 15 % addit</td></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr></tbody>
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  **BRANTAS PSC**