SANTOS LIMITED — Major Shareholding Notification 2004

Jun 22, 2004

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	Novus Petroleum Limited
ACN/ARSN	067 777 440
Details of substantial holder (1)1.NameACN (if applicable)	Santos Limited (Santos) and its related bodies corporate007 550 923
There was a change in the interests of thesubstantial holder on	23/6/2004
The previous notice was given to the company on	21/6/2004
The previous notice was dated	21/6/2004

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interest in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
Ordinarv	151.999.954	82.44%	156,012,699	84.61%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date ofchange	Person whoserelevantinterestchanged	Nature of change (6)	Consideration qiven inrelation tochange $(7)$	Class andnumber ofsecuritiesaffected	Person'svolesaffected
23/6/4	Santos	Santos is an associate of PT Medco Energi Internasional Tbk inrelation to the affairs of Novus Petroleum Limited.
		Santos' relevant interest has increased as a result of acceptancesof the takeover offer made by PT Medco Energi InternasionalTbk's subsidiary, Medco Energi (Australia) Pty Ltd.
		Santos's knowledge in respect of these securities is limited to theinformation set out in PT Medco Energi Internasional Tbk's Noticeof change of interests of substantial holder, lodged with the ASXon 23 June 2004.

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevantinterest	Registered holder of securities	Person entitled tobe registered asholder (8)	Nature ofrelevantinterest (6)	Class andnumber ofsecurities	Person'svotes
Santos	Santos's knowledge in respect of these securities islimited to the information set out in PT Medco EnergiInternasional Tbk's Notice of change of interests ofsubstantial holder, lodged with the ASX on 23 June 2004.

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN (if applicable)	Nature of association
	NJA

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Santos	Santos House, Level 29, 91 King William Street, Adelaide, Australia, 5000
Each related bodycorporate of Santos	c/- Santos House, Level 29, 91 King William Street, Adelaide, Australia,5000
PT Medco EnergiInternasional Tbk	Graha Niaga, 16th Floor, Jalan Jenderal Sudiman Kav 58, Jakarta, 12190,Indonesia
Medco Energi (Australia)Pty Ltd	Level 27, Stock Exchange Centre, 530 Collins Street, Melbourne VIC 3000

Signature

Wesley Jon Glanville print name

capacity Company Secretary

sign here

date 23/6/2004