NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS  
 
NOTE 31 – SHARE BASED PAYMENTS continued 
 
RSUs awarded during the year ended 31 December 2013: 
 
Grant Date 
 
Number of RSUs 
Estimated Fair Value 
(US$’000) 
 
Vesting Conditions 
19 April 2013 863,746 $     789 25% issuance date, 25% first three anniversaries 
28 May 2013 374,248 354 25% issuance date, 25% first three anniversaries 
 1,237,994 $ 1,143  
 
Upon vesting, and after a certain administrative period, the RSUs are converted to ordinary shares of the Company.  
Once converted to ordinary shares, the RSUs are no longer restricted.  As the daily closing price of the Company’s 
ordinary shares approximates its estimated fair value at that time, the Company used the grant date closing price to 
estimate the fair value of the RSUs. 
 
The total share based compensation expense for the years ended 31 December 2014 and 2013 was $1.9 million and 
$1.6 million, respectively. 
 
NOTE 32 – RELATED PARTY TRANSACTIONS 
 
N Martin was previously a partner of Minter Ellison Lawyers and is now a consultant for Minter Ellison Lawyers as 
well as a Director of the Company. Minter Ellison Lawyers were paid a non material amount for legal services for the 
year ended 31 December 2014 and $0.2 million for legal services for the years ended 31 December 2013. 
 
NOTE 33 – FINANCIAL RISK MANAGEMENT  
 
a)   Financial Risk Management Policies 
 
The Group is exposed to a variety of financial market risks including interest rate, commodity prices, foreign 
exchange and liquidity risk. The Group’ s risk management strategy focuses on the volatility of commodity 
markets and protecting cash flow in the event of declines in commodity pricing. The Group utilises derivative 
financial instruments to hedge exposure to fluctuations in interest rates and commodity prices. The Group’ s 
financial instruments consist mainly of deposits with banks, short term investments, accounts receivable, 
derivative financial instruments, finance facility, and payables. T he main purpose of non- derivative financial 
instruments is to raise finance for the Group operations. 
 
i) Treasury Risk Management 
 
Financial risk management is carried out by Management. The Board sets financial risk management policies 
and procedures by which Management are to adhere. Management identifies and evaluates all financial risks 
and enters into financial risk instruments to mitigate these risk exposures in accordance with the policies and 
procedures outlined by the Board. 
 
ii) Financial Risk Exposure and Management 
 
Interest rate risk is managed with a mixture of fixed and floating rate cash deposits.  As at 31 December 2014 
and 2013 approximately nil of Group deposits are fixed. It is the policy of the Group to keep surplus cash in 
interest yielding deposits. 
  
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