Santos Ltd.

Peter Wasow is responsible for corporate development, corporate strategy and planning, investor relations, accounting, corporate finance, taxation and audit. Peter joined Santos in May 2002 following a 23-year career with BHP Billiton. His roles included Vice President Finance and Administration for BHP Petroleum in Houston, Texas. His most recent role was Vice President Finance, in the BHP corporate office, Melbourne.

Mark Macfarlane is responsible for the development portfolio of the company, including operated and non-operated projects, subsurface engineering, drilling and technical services. Mark joined Santos in 1997 after a 10-year career with Esso in Australia and Malaysia. He has worked in variety of roles at Santos, including reservoir management, production and corporate planning, gas and oil exploitation and optimisation and was most recently Manager Production. Mark was appointed Vice President in April 2006.

Rick Wilkinson is responsible for gas and liquids marketing, commercialising discovered resources and developing new gas business. Rick was formerly General Manager Southern Australia. Before joining Santos in 1997, he was Group Manager Energy Retail for the Victorian Gas and Fuel Corporation, responsible for energy trading, customer relations, marketing and sales. He has also held various engineering, strategy and management positions with Schlumberger, McKinsey & Co and Pilkington Glass.

Trevor Brown leads a team of highly qualified geoscientists to implement a challenging exploration strategy, with responsibility for all exploration, appraisal and new venture activities in the company. Trevor was most recently Santos' Manager Growth Projects, having joined the company in 2001 from US independent oil company Unocal where he was part of a very active exploration group. He has over 20 years of experience in the oil and gas industry, including 11 years in Indonesia managing onshore and offshore exploration programs.

Mr. Tony Horvat joined True Energy Trust as Vice President of Operations in May 2006. Previous experience includes managerial roles with Dominion Exploration Canada Ltd. and Santos Ltd., and technical roles with Northstar Energy (Devon) and Advantage Energy Services Ltd. Mr. Horvat holds a Bachelor of Science Degree in Petroleum Engineering (University of Alberta) and an MBA from the AGSB, University of Adelaide. He has focused on production operations and exploitation engineering throughout his career and is a registered professional engineer with the Association of Professional Engineers, Geologists and Geophysicists of Alberta.

James Baulderstone is responsible for the Office of General Counsel, comprising the company's operational and corporate legal function, Secretariat and Share Registry. James joined Santos in January 2007 and was previously Corporate Counsel at Bluescope Steel and Chief Legal Officer at Mayne Group Limited. James has extensive legal and commercial experience in leading teams negotiating complex corporate transactions across many diverse jurisdictions including the US, Germany, UK, Malaysia, China and India.

KEN DE AN BCom (Hons) FCPA MAICD Fo rmer Chief Financial Officer Ken Dean was formerly responsible for finance, accounting, treasury, investor relations and tax. He has extensive financial and resource sector experience gained from a 30-year career with Shell, both in Australia and overseas. Mr Dean is also a non-executive director of Santos Ltd. During 2008 Mr Dean was an alternate director for Mr Rayner and Mr Pizzey. Mr Dean retired as Chief Financial Officer on 12 January 2009 and as an alternate director for Mr Pizzey on 29 January 2009.