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  • Section B: Market value approach

    Attention

    Only complete section B if the entity used the market value approach to value its starting base assets for its interest in the exploration permit, retention lease, petroleum project or combined project.

    End of attention

    Question 12: Has the entity chosen the market value approach for its interest in the exploration permit, retention lease, petroleum project or combined project?

    If the entity:

    • has not chosen the market value approach for its interest in the exploration permit, retention lease, petroleum project or combined project, place an X in the 'No' box and go to section C
    • has chosen the market value approach for its interest in the exploration permit, retention lease, petroleum project or combined project, place an X in the 'Yes' box.

    Question 13: Total market value of all starting base assets as at 1 May 2010

    Insert at label 13A the total market value of all the entity's starting base assets for the entity's interest in the exploration permit, retention lease or petroleum project as at 1 May 2010.

    Question 14: Interim expenditure

    Insert at label 14B the total interim expenditure incurred during the interim period for the entity's interest in the exploration permit, retention lease or petroleum project.

    Question 15: Reductions applied

    Insert at label 15C the total reductions applied (including partial disposals) to the starting base amounts of the starting base assets for the entity's interest in the exploration permit, retention lease or petroleum project.

    Question 16: Total starting base amount on 30 June 2012

    Insert at label 16D the total starting base amount of all the entity's starting base assets for the entity's interest in the exploration permit, retention lease or petroleum project on 30 June 2012. This is calculated by adding the total market value of all the entity's starting base assets for the project and the interim expenditure, and subtracting any reductions applied (13A + 14B - 15C).

    Question 17: What was the primary market valuation method used by the entity to value its starting base assets?

    Insert the details of the market valuation method the entity used in valuing its starting base assets. If the entity used more than one valuation method, insert only the primary method used.

    Question 18: How was the valuation undertaken?

    Place an X in the appropriate box, depending on whether the valuation was undertaken:

    • by an independent (external) valuer
    • entirely in-house – that is, without external assistance
    • in-house, but reviewed by an independent (external) valuer, or the valuation was undertaken with some assistance from an independent (external) valuer.
    Last modified: 12 May 2014QC 56555