SANTOS LVL 29/LEGAL

Santos

図001

Facsimile

Please telephone (08) 8218 5137 if transmission incomplete

AUSTRALIAN STOCK EXCHANGE STO000903

团002

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

We (the entity) give ASX the following information.

Part 1 - All issues

NOT APPLICABLE

Class of securities issued or to be issued $\overline{\mathbf{1}}$

Number of securities issued or to be issued (if $\overline{2}$ known) or maximum number which may be issued.

Principal terms of the securities (eg, if options, 3 exercise price and expiry date; if partly paid securities, the amount outstanding and due dates for payment; if convertible securities, the conversion price and dates for conversion)

Do the securities rank equally in all respects 4 from the date of allotment with an existing class of quoted securities?

If the additional securities do not rank equally, please state:

the date from which they do

• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment
• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

Fully paid ordinary shares

50.000

Consistent with the Listing Rules

New issue announcement, application for quotation of additional securities and agreement

• 50,000 at $5.12 per share Issue price or consideration 5 Issue consequent upon exercise of 50,000 Purpose of the issue 6 options granted on 15 June 1999 pursuant to (If issued as consideration for the acquisition of the Santos Executive Share Option Plan. assets, clearly identify those assets) 8 January 2003 Dates of entering securities into uncertificated $\mathbf{7}$ holdings or despetch of certificates Class Number Fully paid ordinary 582,774,493 Number and class of all securities quoted on 8 shares. ASX (including the securities in clause 2 if applicable) Reset convertible 3.500,000 preference shares. Number Class Fully paid ordinary Number and class of all securities not quoted on 57,800 9 shares allotted to ASX (including the securities in clause 2 if eligible employees applicable) pursuant to the Santos Employee Share Purchase Plan. Executive share plan '0' 144,500 shares of 25 cents each paid to 1 cent. Executive share plan '2' 122,250 shares of 25 cents each paid to 1 cent. 7,090,000 Executive options issued pursuant to the Santos Executive Share Option Plan.
  • Dividend policy (in the case of a trust, 10 distribution policy) on the increased capital (interests)

Rank equally with existing fully paid ordinary shares.

New issue announcement, application for quotation of additional securities and agreement

Part 2 - Bonus issue or pro rata issue NOT APPLICABLE

团005

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

Type of securities 34 (tick one)

$(a)$

$(b)$

Securities described in Part 1

All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid,employee incentive share securities when restriction ends, securities issued on expiry or conversion of conve securities.

2006

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

(If the additional securities do not form a new class, go to 43)

Tick to indicate you are providing the information or documents

Entities that have ticked box 34(b)

• Number of securities for which quotation is 38 sought
• Class of securities for which quotation is sought 39
• Do the securities rank equally in all respects 40 from the date of allotment with an existing class of quoted securities?

If the additional securities do not rank equally, please state:

• the date from which they do
• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment
• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

Iglmxg/asx/2003/SESPP Announ 02/5

41 . Reason for request for quotation now

Example: In the case of restricted securities, end of restriction period

(if issued upon conversion of another security, clearly identify that other security)

Number and class of all securities quoted on $42$ ASX (including the securities in clause 38)

(now go to 43)

All entities

Fees

43 Payment method (tick one)

Electronic payment made

Cheque attached

Note: Payment may be made electronically if Appendix 3B is given to ASX electronically at the same time.

Periodic payment as agreed with the home branch has been arranged $\checkmark$

Note: Arrangements can be made for employee incentive schemes that involve frequent issues of securities.

Quotation Agreement

• Quotation of our additional securities is in ASX's absolute discretion. ASX may quote the 1. securities on any conditions it decides.
• We warrant the following to ASX. 2.
  • The issue of the securities to be quoted complies with the law and is not for an illegal purpose.
  • There is no reason why those securities should not be granted quotation.
  • An offer of the securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

New issue announcement, application for quotation of additional securities and agreement

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any securities to be quoted and that no-one ă. has any right to return any securities to be quoted under section 737, 738 or 1016F of the Corporations Act at the time that we request that the securities be quoted.
• We warrant that if confirmation is required under section 1017F of the Corporations Act in relation to the securities to be quoted, it has been provided at the time that we request that the securities be quoted.
• If we are a trust, we warrant that no person has the right to return the securities to be quoted under section 1019B of the Corporations Act at the time that we request that the securities be quoted.
• We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement. 3.
• We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before quotation of the securities begins. $4.$ We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign here:

Ighnxg/asx/2003/SESPP Announ 02/7

8 January 2003 Date:

≪MICHAEL GEORGE ROBERTS Print name: