text: (1) As at 31 December 2014 the Company had one (2013: four) outstanding drilling rig contracts to 
  explore and develop the Company’s properties. The contracts generally have terms of 6 months. 
  Amounts represent minimum expenditure commitments should the Company elect to terminate 
  these contracts prior to term. 
  
  (2) On 31 December 2012, the Company entered into an agreement to acquire certain oil and natural 
  gas properties located in the Wattenberg Field and to drill 45 net wells by 31 December 2015 on 
  the acquired properties (the “Drilling Commitment”). As each qualifying well is drilled, 
  approximately $67 thousand is paid from the escrow account to the Company. However, for each 
  required net commitment well not completed by the Company during that prorated commitment 
  year, the Company is to pay the seller of the properties approximately $67 thousand from the 
  escrow account. Certain clawback provisions allow the Company to recoup amounts paid to the 
  sellers if the total 45 wells are drilled by 31 December 2015. The Company sold the properties in 
  July 2014 and should the buyer drill any qualifying wells, the obligation would be satisfied. As at 
  31 December 2014, the Company and the buyer had not drilled any wells and the Company does 
  not expect any wells to be drilled under this provision in 2015. As such, the remaining 
  commitment of $2.0 million was accrued in our consolidated statement of financial position and 
  recognised against the gain on sale of assets in the consolidated statement of profit or loss and 
  comprehensive income. 
  
  (3) Represents commitments for minimum lease payments in relation to non-cancellable operating 
  
  leases for office space not provided for in the consolidated financial statements. 
  
  (4) Represents commitments for the payment of salaries and other remuneration under long-term 
  employment and consultant contracts not provided for in the consolidated financial statements. 
  Details relating to the employment contracts are set out in the Company’s Remuneration Report. 
  
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