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Press Release Source: Santos Limited


Casino Gas Project Gets Environmental Approval
Friday December 17, 3:44 am ET


ADELAIDE, Australia, Dec. 17 /PRNewswire-FirstCall/ -- Santos Limited, on behalf of the VIC/P44 joint venture, has announced that the $200 million Casino development, offshore Victoria, has been granted formal environmental approval by the Commonwealth Government.
Approval was granted under the Environment Protection and Biodiversity Conservation Act 1999 by the Commonwealth Department of Environment and Heritage to develop the Casino gas field and associated marine and terrestrial facilities in the Otway Basin, south-west of Port Campbell.

"The approval is an important milestone and means the project remains on track to meet expected initial production in the first quarter of 2006", Santos' Managing Director, Mr John Ellice-Flint said today.

The approval does not impose any unexpected conditions that could have affected the development cost or timing.

A copy of the approval and conditions is available on the Department of Environment and Heritage's website at http://www.deh.gov.au .

Participants in VIC P/44 are:

Santos Limited (Operator) 50.0%

Peedamullah Petroleum Pty Ltd

(wholly-owned subsidiary of AWE) 25.0%

Mittwell Energy Resources Pty Ltd

(wholly-owned subsidiary of Mitsui) 25.0%

Santos stock symbols: STO (Australian Stock Exchange), STOSY (NASDAQ ADR)




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Source: Santos Limited

http://biz.yahoo.com/prnews/041217/lnf003_1.html