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BRIEFING - ASIA ENERGY - JAN 1, 2004.

AsiaPulse News

| January 01, 2004 | COPYRIGHT 2004 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

An executive briefing on energy for Jan 1, 2004, prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, commercial intelligence and business opportunities.

LOY YANG POWER SALE DEAL EXTENDED IN AUSTRALIA

MELBOURNE - Under an extension granted yesterday, the Australian Gas Light Company (ASX:AGL) consortium will have until February 4 to complete its proposed $A3.5 ($US2.61) billion Loy Yang Power sale deal.

Under an in-principle agreement, the extension is expected to be finalised on January 5 with the approval of Loy Yang Power's senior lenders.

SHARES IN AUSTRALIA'S SANTOS HIT RECORD HIGH

MELBOURNE - Australia's third biggest oil and gas producer Santos Ltd (ASX:STO) had plenty to celebrate as the market closed for 2003 with its share price hitting new 30-month highs.

Analysts said the company was well positioned going into 2004 with oil prices looking comfortable above the $US30 a barrel mark and a string of new production projects in the pipeline.

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