NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 
 
NOTE 12 – TRADE AND OTHER RECEIVABLES 
 2014 2013 
Year ended 31 December US$’000 US$’000 
   
Oil, natural gas and NGL sales    13,246     23,364 
Joint interest billing receivables 11,587 5,353 
Commodity hedge contract receivables       1,153             - 
Other               8             31 
            Total trade and other receivables     25,994       28,748 
 
As at 31 December 2013, the Group had a receivable balance of $11.7 million, which was outside normal trading 
terms (the receivable was past due but not impaired), offset by a payable balance of $16.7 million to the same debtor 
company (see Note 20 for additional information). The Company’s remaining Bakken assets were sold to the debtor 
company in July 2014, for approximately $14.0 million, including the settlement of the net liability due to the debtor 
company. 
 
Due to the short -term nature of trade and other receivables, their carrying amounts are assumed to approximate 
fair value.  No receivables were outside of normal trading terms as at 31 December 2014.  
 
NOTE 13 – DERIVATIVE FINANCIAL INSTRUMENTS 
 
 2014 2013 
Year ended 31 December US$’000 US$’000 
   
FINANCIAL ASSETS:   
Current   
Derivative financial instruments – commodity contracts     7,801           - 
Non-current   
Derivative financial instruments – commodity contracts 1,675 - 
Derivative financial instruments – interest rate swaps         107       176 
Total financial assets     9,583            176 
   
FINANCIAL LIABILITIES:   
Current   
Derivative financial instruments – commodity contracts              -        (188) 
Derivative financial instruments – interest rate swaps (130)       (147) 
Non-current   
Derivative financial instruments – commodity contracts               -          (31) 
Total financial liabilities      (130)      (366) 
 
  
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