text: The depreciation rates used for each class of depreciable assets are: 
  
  **Class of Non-Current Asset Depreciation Rate Basis of Depreciation**
  Plant and Equipment 10 – 33% Straight Line 
  
  The Group uses the units-of-production method to amortise costs carried forward in relation to its development and 
  production assets. For this approach, the calculation is based upon economically recoverable reserves, being proved 
  developed reserves and probable developed reserves, over the life of an asset or group of assets. 
  
  The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting 
  period. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying 
  amount is greater than its estimated recoverable amount, and recorded as impairment expense within the 
  consolidated statement of profit or loss and other comprehensive income. 
  
  Gains and losses on disposals are determined by comparing proceeds with the carrying amount. These gains and 
  losses are included in the statement of profit or loss. 
  
  **d) Leases**
  The determination of whether an arrangement is, or contains, a lease is based on the substance of the arrangement 
  at date of inception. The arrangement is assessed to determine whether its fulfillment is dependent on the use of a 
  specific asset or assets and whether the arrangement conveys a right to use the asset, even if that right is not 
  explicitly specified in an arrangement. 