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Santos to Increase Strategic CSG Position in Gunnedah Basin
Thursday July 2, 2009, 6:35 pm

Original Announcement: Santos increases strategic CSG position in Gunnedah Basin

Santos announced the acquisition of significant additional acreage in the Gunnedah Basin in northern NSW and an investment in leading local CSG company, Eastern Star Gas (ESG). Key elements of this $476m transaction include: the company's acquisition of Gastar Exploration Limited’s 35% interest in various Gunnedah Basin exploration permits and production areas operated by ESG for $300m; the acquisition of a 19.99% interest in ESG from Hillgrove Resources for $176m by the company. The company and ESG's combination of operated CSG permits in the Gunnedah Basin will cover a total area of around 63,000sq km.

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