General Discussion, page-289

Here's one from Woodside regarding negotiations with Santos:
7 December 2023
Media speculation regarding a merger with Woodside
Santos refers to media commentary regarding a potential merger of Woodside Energy Group
(Woodside) and Santos.
Santos confirms it has engaged in preliminary discussions with Woodside regarding a potential
merger. Santos continuously reviews opportunities to create and deliver value for shareholders.
Concurrently, Santos is assessing a range of alternative structural options with a view to unlocking
value as referred to on Santos’ investor day on 22 November 2023.
The consideration of any merger is at an early stage and there is no agreement between the
parties. There is no certainty that any transaction will eventuate from these discussions.
Santos will continue to update the market in accordance with its continuous disclosure obligations.
Ends. Woodside repeated the announcement
Admittedly there was prior speculation, but they (Woodside and Santos) could have merely fobbed it off, because there is or was no agreement yet, but they chose to clear the air with their shareholders. LPD can't offer term sheets because it doesn't get any. it has had LOI's and MOU's though which it has made public, BASF was one LOI Joe used to allude to quite often.

You don't think it warrants a public announcement if we are in discussions with a prospective buyer, but ok to discuss it at the agm. What about the rights of non attending shareholders to this information, after all this is the sort of info everyone is desperate for. Surely you get my point that if its good enough to talk about it at the AGM then put it in an announcement for all to read. Info is totally lacking in any form it doesn't bode well from a shareholders prospective and is reflective in the current share price which is at its lowest for around 3 years.

We have come nowhere in preserving shareholders value, but Joe is still pulling a salary which is very high for a company with LPD achievements. The quarterly report is exactly that a summary of announcements and financials as at the end of the previous quarter, I don't think its going to discuss too many contemporary activities, because they seem to be thin on the ground, and besides they would have nothing to talk about in the following quarterly. we can only live in anticipation something may arise that is positive.