NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 
 
NOTE 26 – RESERVES 
 
a)   Share Option Reserve 
The share option reserve records items recognised as expenses on valuation of employee and supplier share 
options and restricted share units. 
 
b)  Foreign Currency Translation Reserve 
The foreign currency translation reserve records exchange differences arising on translation of the Parent 
Company. 
 
NOTE 27 – CAPITAL AND OTHER EXPENDITURE COMMITMENTS  
 
Capital commitments relating to tenements  
As at 31 December 2014, all of the Company’s exploration and evaluation and development and production assets 
are located in the United States of America (“US”). 
 
The mineral leases in the exploration prospects in the US have primary terms ranging from 3 years to 5 years and 
generally have no specific capital expenditure requirements.  However , mineral leases that are not successfully 
drilled and included within a spacing unit for a producing well within the primary term will expire at the end of the 
primary term unless re-leased.   
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