text: For development and production assets, the estimated future cash flows for the VIU calculation are based on 
  estimates, the most significant of which are hydrocarbon reserves, future production profiles, commodity prices, 
  operating costs and any future development costs necessary to produce the reserves. Under a FVLCS calculation, 
  future cash flows are based on estimates of hydrocarbon reserves in addition to other relevant factors such as value 
  attributable to additional reserves based on production plans. 
  
  Estimates of future commodity prices are based on the Group’s best estimates of future market prices with reference 
  to external market analysts’ forecasts, current spot prices and forward curves. At 31 December 2014, future NYMEX 
  strip prices, adjusted for basis differentials, were applied in 2015 and gradually increased through 2016 to $75/bbl 
  in 2017 and thereafter. 
  
  The discount rates applied to the future forecast cash flows are based on a third party participant’s post-tax weighted 
  average cost of capital, adjusted for the risk profile of the asset. 
  
  An impairment loss is reversed if there has been an increase in the estimated recoverable amount of a previously 
  impaired assets. An impairment loss is reversed only to the extent that the asset’s carrying amount does not exceed 
  the carrying amount that would have been determined, net of depreciation or depletion if no impairment loss had 
  been recognized. The Company has not reversed an impairment loss during the years ended 31 December 2014 or 
  2013. 