text: **NOTE 23 – RESTORATION PROVISION**
  
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              [html]<thead><tr><td></td><td>2014</td><td>2013</td></tr><tr><td>Year ended 31 December</td><td>US $’ 000</td><td>US $ 7000</td></tr></thead><tbody><tr><td>Balance at the beginning of the period</td><td>5.074</td><td>1.228</td></tr><tr><td>New provisions</td><td>3.677</td><td>1.601</td></tr><tr><td>Changes in estimates</td><td>1.541</td><td>2.021</td></tr><tr><td>Disposals</td><td>( 2.314 )</td><td>( 146 )</td></tr><tr><td>New provisions assumed from acquisition</td><td>822</td><td>397</td></tr><tr><td>Reclassified to assets held for sale</td><td>-</td><td>( 109 )</td></tr><tr><td>Unwinding of discount</td><td>66</td><td>82</td></tr><tr><td>Balance at end of period</td><td>___8.866</td><td>__5.074</td></tr><tr><td>MOTE 24 − DEFERRED. TAX ASSETS AND LIABILITIES</td><td></td><td></td></tr><tr><td>Deferred tax assets and liabilities are attributable to the following :</td><td></td><td></td></tr><tr><td></td><td>2014</td><td>2013</td></tr><tr><td>Year ended 31 December</td><td>US $’ 000</td><td>US $’ 000</td></tr><tr><td>Net deferred tax assets :</td><td></td><td></td></tr><tr><td>Share issuance costs</td><td>2.172</td><td>1.069</td></tr><tr><td>Net operating loss carried forward</td><td>1.826</td><td>473</td></tr><tr><td>Unrecognized foreign currency gain ( loss )</td><td>-</td><td>761</td></tr><tr><td>Total net deferred tax assets</td><td>3.998</td><td>___2.303</td></tr><tr><td>Deferred tax liabilities :</td><td></td><td></td></tr><tr><td>Development and production expenditure</td><td>( 106.343 )</td><td>( 114.042 )</td></tr><tr><td>Derivatives</td><td>( 3.351 )</td><td>-</td></tr><tr><td>Offset by deferred tax assets with legally enforceable right of set - off :</td><td></td><td></td></tr><tr><td>Net operating loss carried forward</td><td>5.943</td><td>10.373</td></tr><tr><td>Other</td><td>1.083</td><td>958</td></tr><tr><td>Total net deferred tax liabilities</td><td>__ ( 102.668 )</td><td>_ ( 102.711 )</td></tr></tbody>
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