Ann: Unlocking New Bedout Resources, page-26

Without digging too deep any exploration expenditure would have been capitalised on balance sheet and not put through P&L Accounting sleight of hand. Once pumping of oil starts this will be amortised against revenue (sales). If pumping does not happen at all then it will be put through P&L as a non cash expense. Hope that makes sense. The crazy new accounting standards that have developed over the past 2 decades is why I handed in my card. Annual reports used to be simple and just a few pages. The layman could understand them. Now annual reports are 50-100+ pages of gobbledigook and no one reads them and even if they did they would not understand them. The foreign exchange accounting standard back a couple of decades ago blew a fuse in my brain. I never recovered.