Balance Sheets
| Group | Company | |||||
|---|---|---|---|---|---|---|
| Notes | 2009 US$000's | Restated * 2008 US$000's | 2007 US$000's | 2009 US$000's | 2008 US$000's |
|
| Assets | ||||||
| Non-current assets |
||||||
| Intangible oil and gas assets | 12 | 184,161 |
213,933 |
49,656 | – | – |
| Property, plant and equipment | ||||||
| – oil and gas assets | 13 | 486,672 | 465,644 |
140,926 | – |
– |
| – other | 13 | 6,996 |
5,813 |
1,545 | 2,711 | 2,299 |
| Prepayments | 18 | 3,383 | 4,783 |
3,183 | – |
|
| Investments in subsidiaries | 14 | – |
– |
– |
54,128 | 50,412 |
| Derivative financial instruments | 21 | 2,153 | 20,354 |
– |
– |
– |
| Available for sale investments | 14 | – |
211 |
1,475 | – |
211 |
| Investments in associates | 15 | 604 |
– |
– |
604 | – |
| 683,969 | 710,738 | 196,785 | 57,443 | 52,922 | ||
| Current assets | ||||||
| Inventories | 16 |
34,564 | 13,276 |
3,090 | – |
– |
| Trade and other receivables | 18 | 55,614 | 51,247 |
9,443 | 485,415 | 334,859 |
| Derivative financial instruments | 21 | 4,523 |
29,161 |
– |
– |
– |
| Cash and cash equivalents | 19 | 321,312 |
117,719 | 91,783 | 203,117 | 39,106 |
| 416,013 |
211,403 |
104,316 | 688,532 | 373,965 | ||
| Total assets |
1,099,982 |
922,141 | 301,101 | 745,975 | 426,887 | |
| liabilities | ||||||
| Current liabilities | ||||||
| Trade and other payables | 20 |
(134,739) | (145,755) | (38,611) | (61,226) | (37,749) |
| Borrowings |
21 | (117,634) | (111,218) | – |
– |
– |
| Derivative financial instruments |
21 | (5,240) | – |
(1,408) | – | – |
| (257,613) | (256,973) | (40,019) | (61,226) | (37,749) | ||
| Net current assets/(liabilities) |
158,400 | (45,570) | 64,297 | 627,306 | 336,216 | |
| Non-current liabilities |
||||||
| Deferred tax liabilities |
25 | (12,460) | – |
– |
– |
– |
| Provision for decommissioning |
22 | (21,836) | (20,276) | – |
– |
– |
| Borrowings |
21 | (149,446) | (293,946) |
(146,691) | – |
– |
| Derivative financial instruments |
21 | (379) | – |
(4,575) | – |
– |
| (184,121) | (314,222) | (151,266) | – |
– |
||
| Total liabilities |
(441,734) | (571,195) | (191,285) | (61,226) | (37,749) | |
| Net assets |
658,248 | 350,946 |
109,816 | 684,749 | 389,138 | |
| Equity |
||||||
| Share capital |
27 |
15,702 | 8,806 | 5,365 | 15,702 | 8,806 |
| Share premium |
27 | 755,169 | 446,958 | 146,245 | 755,169 | 446,958 |
| Other reserves |
32 | 17,272 | 18,173 | 16,872 | 19,706 | 20,607 |
| Accumulated losses |
33 | (129,895) | (122,991) | (58,666) | (105,828) | (87,233) |
| Total equity |
658,248 | 350,946 | 109,816 | 684,749 | 389,138 | |
* See note 31.
The financial statements of Afren plc, registered number 05304498 were approved by the Board of Directors and authorised for issue signed on its behalf by:
Osman Shahenshah
Chief Executive
29 March 2010