Santos Accepts Origin Energy Bid for Oil Company of Australi

Santos announced that, having regard to the Independent Expert's Report and recommendation of the Independent Director of Oil Company of Australia Ltd ("OCA"), it intends to accept the off-market take-over offer by Origin Energy Ltd of $4.25 per share for the remaining 11,793,140 shares Santos holds in OCA. Pursuant to a pre-bid agreement, Santos has previously accepted the offer in respect of 2.9 million shares. Santos has held shares in OCA since 1987, which have a book value of $1.13 per share.

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