text: iii)  Commodity Price Risk Exposure and Management 
  
  The Board actively reviews oil and natural gas hedging on a monthly basis. Reports providing detailed analysis 
  of the Group’s hedging activity are continually monitored against Group policy. The Group sells its oil on market 
  using Nymex and LLS market spot rates reduced for basis differentials in the basins from which the Company 
  produces. Gas is sold using Henry Hub and Houston Ship Channel market spot prices. Forward contracts are 
  used by the Group to manage its forward commodity price risk exposure. The Group’s policy is to hedge less 
  than 50% of anticipated future oil and gas production for up to 24 months. The Group may hedge over 50% or 
  beyond 24 months with approval of the Board. The Group has not elected to utilise hedge accounting treatment 
  and changes in fair value are recognised in the statement of profit or loss and other comprehensive income. 