Such forward-looking statements involve known
and unknown risks, uncertainties and other factors, which may cause the actual
results , performance or achievements of the Company to be materially different
from those expressed or implied .

petroleum hydrates

1%)

Santos will become operator of the Patricia Baleen and Sole gas fields.
"This helps facilitate administrative efficiency and joint venture
alignment in future Cooper Basin activities ," he said.3 mmboe.
(OTC Bulletin Board: BMBM) announced today that it has coordinated and
completed technical design of a geophysical research program of its expanded
territory with State authorities .

BMB Munai is an independent oil and gas company engaged in the
exploration, development and production of crude oil and natural gas in
western Kazakhstan.

seismic petroleum

"
"Importantly, as an incumbent party in all of the assets, we have a good
understanding of their distinct value through our current joint venture
activity.

BMB Munai Inc. to Commence Seismic Study of Expanded Territory

barents seismic

21 20.

tectonophysics seismic

33% 33.

earth geophysical

The Company maintains administrative offices in Almaty,
Kazakhstan.

geosystems laboratories

34%
Diamond Gas Resources 33.

The information contained in this release includes forward-looking
statements that are subject to risks and uncertainties that could cause actual
results to differ materially.

hydrates reveal

The interests of parties in these assets pre and post these transactions
are:

South Australian Cooper Basin

New Old
Santos (operator) 66. NEW YORK, BMB Munai, Inc. The Company has retained TatArka, LLP.

datasets hydrate

Santos Acquires OMV's Gippsland + Cooper Basin Assets

The acquisition will see Santos build its position in the Gippsland gas
hub by becoming the largest interest holder (90%) and operator of the Patricia
Baleen and Sole gas fields and associated processing facilities at the Orbost
plant in eastern Victoria.19 13.

laboratories hydrate

hydrate glacial

The sale of Basin Oil to Santos has an effective transfer date of 1
January 2005.

carbonate seismic

10%

VIC/L21 (Patricia Baleen Gas Field)

New Old
Santos 90% + operatorship 50%
Basin Oil Pty Ltd (OMV) (operator) - 35%
OMV Timor Sea Pty Ltd - 5%
Trinity Gas Resources 10% 10%

VIC/RL3 (Sole Gas Field)

New Old
Santos 90 % + operatorship 50%
Basin Oil Pty Ltd (OMV) (operator) - 40%
Trinity Gas Resources 10% 10%

VIC/RL1 (Golden Beach Gas Field)

New Old

Santos Offshore Pty Ltd 100% 66.33%


FOR FURTHER INFORMATION PLEASE CONTACT:

Media enquiries: Investor enquiries:

Kathryn Mitchell Mike Hanzalik
+618-8218-5260/+61(0)407-979-982 +618-8224-7725/+61(0)439-892-143

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

hydrates reveal

Mr Ellice-Flint said acquisition of Basin Oil's Cooper Basin assets meant
there would now be only three parties (Santos , Delhi Petroleum and Origin
Energy) across the key Cooper Basin Joint Ventures.21%
Origin Energy Resources Ltd 13.com.

geochemistry geo

Santos is already operator of the Golden Beach gas field, the VIC/P55
exploration permit and the Cooper Basin oil and gas fields.
As a result of the transaction, Santos will add 8 mmboe of proven and
probable reserves from Patricia Baleen and Cooper Basin with additional 2005
production of approximately 1.5%
Delhi Petroleum Pty Ltd 20.19%
Basin Oil Pty Ltd (OMV) - 2.

geophysical reveal

The increase in Santos' Victorian and Cooper Basin oil and gas assets was
today described as "a strategic move " by Santos' Managing Director, Mr John
Ellice-Flint.
"It is a strategic transaction that provides Santos with operating
interests in the emerging alternative gas hub in the Gippsland Basin," said Mr
Ellice-Flint. "We look
forward to the results of the research program. We anticipate the information
gathered will enhance our understanding of the oil reserves located within the
expanded territory and will help us more effectively select drilling sites. Forward-looking statements involve risks and
uncertainties, including but not limited to, such risks as the Company having
a lack of funds to complete the geophysical research program or to undertake
drilling activities in the expanded territory and other risks described in the
Company's periodic reports on file with the Securities and Exchange
Commission.

Any activity that does not fit into an existing subcategory is listed here .

assembles barents

The OMV interests to be acquired by Santos are:

* VIC/L21 Patricia Baleen gas field and associated processing facilities
(40%)
* VIC/RL3 Sole gas field (40%)
* VIC/RL1 Golden Beach gas field (33%)
* VIC/P55 exploration block (33%)
* South Australian Cooper Basin (2. The acquisition is subject to relevant government approvals,
with the transaction expected to be completed in the second quarter of 2005."
"As Santos' Golden Beach interests are now 100%, options are being
assessed and may include a farm down to other interested parties," he said.33%

VIC/P55 Exploration Permit

New Old
Santos 66. Cherdabayev indicated that the Company plans to commence drilling
activities in the expanded territory following completion of the 3-D seismic
study program.

Web sites pertaining to the use of Geology in the Oil and Gas Industry .

usenet geomorphology

geology palaeo

67%
Basin Oil Pty Ltd (OMV) (operator) - 33.33%
Basin Oil Pty Ltd (OMV ) (operator) - 33.

hydrate geochemistry

earth barents

"Our geophysical research program, calls for the use of modern 3-D seismic
techniques and equipment," said Company co-CEO, Boris Cherdabayev.

carbonate disparate

This does not include Sole or Golden
Beach fields.
For more information please contact Boris Cherdabayev, Chairman and
co-CEO, at +7 3272 588-517 or by e-mail at KZoffice@bmbmunai.

palaeo glacial

60 64.67% 33., to
provide geophysical testing services of the expanded territory and anticipates
seismic testing and interpretation to be completed during the second half of
2005. Certain statements contained herein constitute
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995.

hydrate geochemistry

"The Gippsland hub is at a strategic pipeline crossroad with connections
to Victorian, NSW and Tasmanian markets while our Moomba hub has been
supplying customers for over three decades.

seismic seismics

"
"The move to become the operator of the Patricia Baleen field and
processing facilities will form a strong foundation asset for the development
of the Sole gas field, as well as gas discoveries in neighbouring blocks.

laboratories earth

ADELAIDE, Australia, Santos Limited
(Santos) has expanded its interests in key Victorian and South Australian gas
hubs with the announcement today of the acquisition of Basin Oil Pty Ltd
(Basin Oil), which holds all of OMV Petroleum Pty Ltd's (OMV) Gippsland Basin
and Cooper Basin assets.
It takes Santos' interests in the South Australian Cooper Basin oil and
gas fields, which supply gas under long term contracts to Adelaide, Sydney and
Canberra, to over 66%.
"There is good upside for Santos in picking up these assets as a total
portfolio as it maintains our position as a key gas supplier to gas markets in
the southern and eastern states ," he said."
Mr.

geophysical disparate

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- - kjjkjk

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