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  • Section C: Alternative valuation method

    Attention

    Only complete section C if the entity used the alternative valuation method under the market value approach to calculate the market value of its starting base assets for its interest in the exploration permit, retention lease, petroleum project or combined project.

    End of attention
     

    Question 19: Has the entity chosen the alternative valuation method to determine the market value of its interest in the exploration permit, retention lease, petroleum project or combined project?

    If the entity:

    • has not chosen the alternative valuation method 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 D
    • has chosen the alternative valuation method for its interest in the exploration permit, retention lease, petroleum project or combined project, place an X in the 'Yes' box.

    Question 20: Coal seam gas reserves

    Insert at label 20A the estimated coal seam gas reserves (to the nearest gigajoule) from the most recent approved estimate that was made before 2 May 2010. The estimate has to have been determined in accordance with the requirements of the 'Petroleum Resources Management System' document issued by the Society of Petroleum Engineers.

    Insert the date that the coal seam gas reserves were estimated.

    Insert at label 20B the total production of coal seam gas (to the nearest gigajoule) from the project during the period beginning from the date on which the petroleum reserves were estimated and ending on 2 May 2010.

    Question 21: Alternative valuation method amount

    Insert at label 21C the market value of the starting base assets worked out under the alternative valuation method. This is calculated by subtracting the production of coal seam gas (in gigajoules) since the last estimate from the estimated reserves of coal seam gas, then multiplying the result by 60% [(20A - 20B) X 0.6].

    Question 22: Interim expenditure

    Insert at label 22D the total interim expenditure incurred during the interim period for the entity's interest in the exploration permit, retention lease or petroleum project.

    Question 23: Total starting base amount on 30 June 2012

    Insert at label 23E the total starting base amount of all the entity's starting base assets for the interest in the exploration permit, retention lease, petroleum project or combined project as at 30 June 2012. This is calculated by adding the alternative valuation amount and interim expenditure (21C + 22D).

    Last modified: 12 May 2014QC 56555