June 21 (Reuters) - Webster Ltd WBA.AX :
* Entered into an agreement with commonwealth government
* Total consideration payable to Webster by completion of transaction is $78 million
* Deal to decommission lake Tandou irrigation system and sell Tandou's lower darling irrigation water entitlements associated with property south of Menindee
* Expects to record net profit on disposal in order of $36 million to $37 million, reported in financial results for 15-month period ending 30 Sept 2017 Source text for Eikon: Further company coverage: WBA.AX