Santos Limited · ASX:STO
Santos — Merger or Acquisition (July 2005)
9 slides from Santos's merger presentation, Jul 4, 2005
Slide 1: atory developments, economic
atory developments, economic i, approvals and cost esuiiniatas,
Slide 2: Transaction Structure
Transaction Structure Cash “merger™ offer for ‘Tipperary Corp : Recommended by Board Net Result 6.7% shareholder approval Ai 100% equity in 4% Slough stake voted in favour <7 Tipperary Corporation ‘Anticipated close early 40. se) & ( yoy 100% equity in Tipperary Oil and Gas Australia quisition of Sl
Slide 3: Financial Summary
Financial Summary ‘Santos Santos strategy in three parts
Slide 4: Core gas business is enhanced
Core gas business is enhanced + 3914-mmboe pontingent. resources in'P ‘Santos Coal Seam Methane Strategy Saritos
Slide 5: Position Santos as #1 or 2 in CSM
Position Santos as # 1 or 2in CSM eee eign ie Position Santos as # 1 or 2 in CSM ip & x < Exploration .” Evaluation
Slide 6: Target quality assets: location
oes 8 Seduction Target quality assets: resources age ey J bs 6 bof 2 8 a » 10 years of proven production "sa eee] o0 e9e|es0| 66 (00 eee! Overatorshi [PSC ee ee ee | 8 8 eee Pp Pp | Walloons | | @@ [eee @@ [ee | ee | ee | @ | [Ponder River | @ [eee|@e |e" |"e |e [eee] [Back Warior [@@@|@e [ee |e | @
Slide 7: Target quality assets: market options
Target quality assets: market options Ex ings re contract hase Swap opportunities Wy ) ne 7 ig 1990’s Now/Future Santos commences Santos commences) Sentos aca oxpoiaion, 7) producus Mippevany -
Slide 8: Enter early: proven concept and capability
Enter early: proven concept and capability > Feld Production (TYaay) ~~ Welt Count antes Apply distinctive advantages * Largest onshore driller and operator * Economies of scale CSM experience * Synergies opportunities | + Santos infrastructure development Market acceptance yy ‘ j Reserve optionalit
Slide 9: Santos
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