Santos Limited · ASX:STO

Santos — Corporate Update (June 2004)

16 slides from Santos's corporate update, Jun 23, 2004

1. Slide 1: Mutineer-Exeter Development WA-26-L, WA-27-L

2. Slide 2: The Joint Venture Partners

   The Joint Venture Partners Searibos Field Location | Noe a NE of Wistiniows Bos A anestiony ty. ear hops

3. Slide 3: Mutineer & Exeter Oils

   ‘Mutineer & Exeter Oils | } > Currently J rail Natural Lift will Natural Litt Searibos 3D Static Model D Static Model - 140 ba ear hops

4. Slide 4: Mutineer-Exeter Development plan

   Mutineer- Exeter bee ante iS Development pla n “ANE FPSO Services ° PAO Or ik OOD taints: xtc MS

5. Slide 5: Upper/Lower Completion Diagram

   Upper /Lower Completion Diagram : Saabos 2000 4000 5000 6000 e000 Fay VERTICAL SECTION DEPARTURE (m) ear hops

6. Slide 6: Exeter 4aH 8 1/2 Section

   Exeter 4aH 81/2 Section RNS Correlation 3790m MD - 17th May 2004 23.45 hr: Few erpaerdea: nbs

7. Slide 7: Exeter 4aH 8 1/2 Section TD

   Exeter 4akH & V/2 Section TD al Wile 0G : to plan ~ 17 May 2004 23. v TVS Project Video =: Seontos

8. Slide 8: Strategic drivers

   | Strategic drivers D kop ellis high a i lve, Contract Matrix Masaueryant:, Sriiig moos

9. Slide 9: World Locations / Benchmarking

   | World Locations Umblicals i ee iti cases, Current Loca Serve Coresctoes “SRB say“ Segecae Payee Ys nrc, sabes ohana’ spac ‘Subeea Hodson Equipesent Searibos Benchmarking Spread of actual FPSO conversion schedules _ ij Haha tartte : : : ,

10. Slide 10: Overall M-E Progress Curve

    Overall M-E Progress Curve Overall Cost Curves Day Ue ear hops 10

11. Slide 11: Overall Manpower all Locations

    Yi ss emased ree eaey cen Flame otek TaFPSO mete RUE ICI Faxieaion a2psises Bi Femsiceran aFrscce: aartcvecr atoctonter PCB usva Consus POB Sh. Ctoagh Olive Reroesvet Overall Manpower all Locations v m3 Hi 4 Power Generation & Switchboard a Die iii ae dai ESP& MPP Modules Swivel / Fluid Transfer Sys

12. Slide 12: Current Activities

    Current Activities T Airway in Drydock = Searibos FPSO Deck One

13. Slide 13: Vessel Conversion

    Vessel Conversion Pre Fabrication Activities Lower Turret Séction uy oosring Buoy Section PPL (Singapore) Flare Tower Offsite Fabrication 13

14. Slide 14: : Saabos

    : Saabos : Sanvbos 14

15. Slide 15: Subsea Equipment

    Subsea Equipment Master Control Station (MCB) ABB -OSS Nailsea Ks Hi ATES Subsea Progress 15

16. Slide 16: Subsea Progress

    Subsea Progress | : Saabos Booster Pumps framo Norway : Sanvbos 16

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