text: **Stock Based Compensation**
  The Group’s policy for stock based compensation is discussed in Note 1 (h). The application of this policy requires 
  management to make certain estimates and assumptions as to future events and circumstances. Stock based 
  compensation related to stock options use estimates for expected volatility of the Company’s share price and 
  expected term, including a forfeiture rate, if appropriate. 
  
  **q) Change in Accounting Estimate**
  Effective 1 July 2013, the Company had a change in accounting estimate related to the economically recoverable 
  reserves in its Eagle Ford formation used in the units-of-production depletion calculation. Subsequent to the change, 
  the Company began to include management's best estimate of economically recoverable reserves associated with 
  developed properties, which include both proved developed and probable developed reserves. Prior to the change, 
  the Company used economically recoverable reserves associated only with proved developed reserves as probable 
  developed reserves were not significant. 
  
  **r) Rounding of Amounts**
  The Company is of a kind referred to in Class Order 98/100 issued by the Australian Securities and Investment 
  Commission, relating to rounding of amounts in the financial statements. Amounts have been rounded to the 
  nearest thousand. 
  
  **s) Parent Entity Financial Information**
  The financial information for the parent entity, SEAL (“Parent Company”), also the ultimate parent, discussed in Note 
  34, has been prepared on the same basis, using the same accounting policies as the consolidated financial 
  statements, except for its investments in subsidiaries which are accounted for at cost in the individual financial 
  statements of the parent entity less any impairment. 