The offer was previously due to close on January 31, the same day the Australian Competition and Consumer Commission is due to release its findings on whether the bid is anti-competitive.

Santos, Australia’s third-largest oil and gas producer, is seeking to buy at least 50.1% of QGC chares, but it currently has just 3.89% equity.

The company has lodged, on behalf of its wholly-owned subsidiary Santos CSG, a supplementary bidder's statement in connection with its takeover offer for QGC.

Santos told the Australian Stock Exchange this morning that it was reserving its position as to whether it would rely on various conditions as defeating conditions in relation to the offer. These conditions included:

• the fact that QGC has not provided details of any contractual arrangements with major shareholder Sentient, including the number of QGC shares, if any, that Sentient may be entitled to be issued as a result of a change in control of QGC arising as a result of the offer;

• the issue of up to 5 million shares to QGC employees and performance rights to almost 2.25 million QGC shares to QGC managing director Richard Cottee, both of which were approved at the company’s annual general meeting in November; and

• the alliance between QGC and AGL Energy announced in early December.