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    1. General Interest

    Carpentaria pipeline interest to be sold

    Jan. 5, 2005
    Santos Ltd., Adelaide; Origin Energy Resources Ltd., Sydney; and ExxonMobil subsidiary Delhi Petroleum Pty. Ltd. have agreed to sell their combined 30% interest in the Carpentaria gas pipeline (CGP) in Australia to Australian Pipelines Trust (APT) for a total cash consideration of $98 million (Aus.).

    By OGJ editors

    HOUSTON, Jan. 4 -- Santos Ltd., Adelaide; Origin Energy Resources Ltd., Sydney; and ExxonMobil subsidiary Delhi Petroleum Pty. Ltd. have agreed to sell their combined 30% interest in the Carpentaria gas pipeline (CGP) in Australia to Australian Pipelines Trust (APT) for a total cash consideration of $98 million (Aus.).

    The CGP is an 840 km sales gas trunkline that extends from the South West Queensland Producers Ballera gas processing plant in southwestern Queensland to Mt. Isa.

    The sale does not affect the existing shipping rights of Santos and the other producers on the CGP.

    APT and the producers also have agreed to hold future discussions concerning a new delivery point on the CGP that could assist in commercializing smaller gas fields north of the Ballera gas plant.

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