Santos Signs Native Title Agreement for New Acreage

Santos Limited has executed a Native Title Act agreement with the Yandruwandha/Yawarrawarrka People, as a key step in obtaining a new exploration permit (CO2000-G), south of Moomba. Santos will initially hold 100% equity in this new permit, which covers an area of 962 square kilometers.

"The agreement means that the Yandruwandha/Yawarrawarrka People will have the opportunity to benefit from future exploration as well as any future production from CO2000-G," Santos' Managing Director, Mr. John Ellice-Flint, said."This work commitment involves drilling up to 14 exploratory wells and undertaking 320 kilometres of seismic on the new acreage area over the next five years," he said.

"Santos looks forward to being awarded this new Block and developing its exploration and production potential," Mr. Ellice-Flint said. Mr. Michael Steele, a lawyer who represents the interests of the Yandruwandha/Yawarrawarrka People, expressed his satisfaction at the completion of the process. He acknowledged the benefits which will flow to the Yandruwandha/Yawarrawarrka People who are looking forward to forging a new and co-operative relationship with Santos. Santos Limited is a major Australian oil and gas exploration and production company with interests in all Australian hydrocarbon provinces.