Annual Report 2004 43 * Santos operated. (I) Includes interests h eld by Basin Oil Pty Ltd. By contract dated 17 February 2005, Santos agreed to acquir Basin Oil Pty Ltd effective 1 January 2005. The transaction is expected to be completed in th second quarter of 2005. Licence Area % Interest EGYPT Ras Abu Darag 50.0 South East July 20.0 North Zeit Bay 50.0 UNITED STATES OF AMERICA AVG WORKING INTEREST East Texas Black Horse* 100.0 BP America 25.0 Jefferson Co 18.8 Knight 30.0 South Texas Bar Harbor 25.0 BP Green* 50.0 Coquat 25.0 Cougar* 100.0 Duncan Slough* 66.2 E. Edinburgh 20.8 Elsa 25.0 Hall Ranch* 57.5 Hordes Creek 50.3 Lafite / Allen Dome* 92.1 Markham 16.0 Mikeska 54.5 Mountainside 20.8 Petru 30.9 Raymondville 25.3 Remmers* 66.3 Riverdale 23.1 Tidehaven* 38.9 Verdad 25.0 W. Mercedes 25.0 South Louisiana Howards Creek 25.0 Montana Deer Creek 50.0 Licence Area % Interest Timor Gap JPDA 03-01 25.0 JPDA 03-12 19.3 Bayu-Undan Gas Field 10.6 Elang 21.4 PAPUA NEW GUINEA PDL 1 (Hides) 31.0 PDL 3* 15.9 PL 3 3.6 PPL 190* 31.3 PPL 206 48.0 PPL 228 40.0 PRL 4* 35.3 PRL 5* 35.3 PRL 9* 42.6 SE Gobe Unit 9.4 INDONESIA East Java Basin Bawean 45.0 Brantas 18.0 Madura Offshore (M aleo)* 75.0 Nth Bali 1* 30.0 Sampang (Oyong)* 45.0 Kutei Basin Donggala 50.0 Papalang 20.0 Popodi 20.0 West Natuna Basin Kakap 6.3 West Papua Basin Warim 20.0 Licence Area % Interest TP/2 28.6 TP/7 (1-3) 43.7 TP/7 (4) 18.7 TR/4 (Australind) 35.7 WA-1-P 22.6 WA-7-L 28.6 WA-8-L (Talisman) 37.4 WA-13-L (East Spar) 45.0 WA-15-L (Stag) 66.7 WA-20-L (Legendre) 22.6 WA-26-L (Mutineer)* 33.4 WA-27-L (Exeter)* 33.4 WA-29-L (John Brookes) 45.0 WA-33-R 18.7 WA-191-P (Mutineer-Exeter)* 33.4 WA-208-P* 31.3 WA-209-P (Reindeer) 45.0 WA-214-P (John Brookes) 45.0 WA-246-P 15.0 WA-264-P* 50.0 Browse Basin * WA-274-P 50.0 WA-281-P 90.0 WA-338-P 71.5 Bonaparte Basin * NT/P67 100.0 NT/RL1 (Petrel) 95.0 WA-6-R (Petrel West) 95.0 WA-18-P (Tern) 100.0 WA-27-R (Tern) 100.0 Houtman Basin WA-328-P 33.0 WA-339-P* 50.0 Timor Sea AC/L1 (Jabiru) 10.3 AC/L2 (Challis) 10.3 AC/L3 (Cassini) 10.3 NT/P48 (Evans Shoal) 40.0 NT/P61 40.0