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              [html]<thead><tr><td>We performed procedures b assess whether in all naterial respects the financial report presents fority, in accordance with the Corporation Act 2002, Accordinal Accurating Dostatical and other mandany froncial reproduces area ofteri</td></tr></thead><tbody><tr><td>We formed our audit opinion on the basis of these procedures, which included :</td></tr><tr><td>• examining, on a test basis, information to provide evidence supporting the amounts and disclosures in the financial report, and</td></tr><tr><td>▪ assessing the appropriateness of the accounting policies and disclosures used and the reasonableness of significant accounting estimates multip the Sirectors.</td></tr><tr><td>While we considered the effectiveness of nonagement ’ s internal controls over financial reporting when determining the ratioe and extent of sur procedures, our audit was not designed to provide assurance on internal controls.</td></tr><tr><td>Independence</td></tr><tr><td>3n conducting our autift, we followed applicable independence requirements of Australian professional ethical prosurements and the Gorprations Act 200L</td></tr><tr><td>Audit opinion</td></tr><tr><td>In our opinion, the financial report of Santos Ltd is in accordance with :</td></tr><tr><td>( a ) the Corporations Act 2001, including :</td></tr><tr><td>( i ) giving a toue and for i view of the Company ’ s and the Consolidated Entity ’ s francial position as at 33. Becember 2004 and of their performance for the financial year ended on that date ; and</td></tr></tbody>
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