text: **1. Statement of Accounting Policies**
  
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              [html]<thead><tr><td>1.</td><td>Statement of Accounting Policies ( continued )</td><td>of usage, degree of technical obsolescence, expected commercial. Ille and the period of time during which the right or entitlement to the asset exists. The depreciation rates are reviewed and reassessed periodically in light of technic</td><td>for the futureviewed aron current technology dollars on a Adjustment on a prospe</td></tr></thead><tbody><tr><td>The useful lives for each class of anshore asset will vary depending on their individual technical and economic characteristics but will generally fall within the following ranges :</td><td>( s )</td><td>Employee The provisivages, sala to be settle</td><td>• Plant and equipment</td></tr><tr><td>– Computer equipment</td><td>3 -</td><td>5 years</td><td>to balance undiscount remuneratic the Santos balance dat</td></tr><tr><td>- Motor vehicles</td><td>4 –</td><td>7 years</td><td>– Furniture and fittings</td></tr><tr><td>0 –</td><td>20 years</td><td>– Pipelines</td><td>10 – 30 years</td></tr><tr><td>– Plant and facilities</td><td>10 – 50 years</td><td>1.2 % one the following : 1.2 % one the following : 1.2. 1.2. 1.2. 1.2. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1. 1.1.</td><td>• Buildings</td></tr><tr><td>20 – 50 years</td><td>Depreciation of offshore plant and equipment is calculated using a unit of production method which will proportionately depreciate the assets over the life of the Proven plus Probable (" 29 ") reserves on a field by Feld basis.</td><td>Depletion charges are calculated using a unit of production method which will amortise, over the life of the 2P reserves,</td><td>Government most closel of the related</td></tr><tr><td>exploration and development expenditure tagether with future costs necessary to develop the reserves in the respective areas of interest.</td><td>The Compar contribute and cash ac plans. Contr expense as</td><td>Depletion is not charged on costs carried forward in respect of areas of interest in the development stage until production commences.</td><td>( t )</td></tr><tr><td>Employee :</td><td>Restoration</td><td>Provisions are made for environmental restoration of areas of interest where gas and petroleum production is undertaken. Such provisions recognise the estimated future restoration obligations increased ware the life, life, newarea</td><td>Shares issue Share Plan, Plan and th Purchase Plequity at th consideratic</td></tr><tr><td>incrementally over the life of the reserves on a unit of production basis. The estimated future obligations include removing of facilities, abandaring of wells and restoring the affected areas. Estimates</td><td>The value amployees Share Acqua three year</td></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr><tr></tr></tbody>
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