You may find this interesting from Note 27 AWE Audited 2014 Accounts
(b) Exploration and evaluation expenditure commitments Total exploration and evaluation expenditure contracted for but not provided for in the financial statements, payable: Not later than one year 23,300 37,200 Later than one year but not later than five years 14,700 66,100 38,000 103,300 AWE participates in a number of licences, permits and production sharing contracts for which the Company has made commitments with relevant governments to complete minimum work programmes. In addition, the Company, directly or through joint venture arrangements, has made contractual commitments at year end in relation to exploration activities to be undertaken in the 2014-15 year. Commitments not later than one year include $14 million in relation to the La Bella exploration well, $30.6 million in relation to the onshore Perth Basin and $7million offshore Indonesia. Commitments later than one year include $14 million relating to La Bella (VIC / P67)$6.7 million in relation to Otway (VIC P/44) $12.6 million for BassGas (T/18P), $13.1 million for Carnarvon and $8 million relation to Terumbu in Indonesia.
QFY Price at posting:
1.3¢ Sentiment: Hold Disclosure: Held
