Page 62 - Sun Resources Annual Report 2013

9 Plant and Equipment (continued)
Movements in carrying amounts
Movement in the carrying amounts for each class of plant and equipment between the beginning and the end of the
current financial year.
Consolidated Plant and Equipment Furniture and Fittings Total
$ $ $
2013
Balance at the beginning of the year 13,618 4,610 18,228
Additions 11,393 130,523 141,916
Disposals - - -
Depreciation (6,840) (1,261) (8,101)
Balance at the end of the year 18,171 133,872 152,043
2012
Balance at the beginning of the year 11,178 3,320 14,498
Additions 8,175 2,365 10,540
Disposals - - -
Depreciation (5,735) (1,075) (6,810)
Balance at the end of the year 13,618 4,610 18,228
Consolidated
2013 2012
10 Exploration and Evaluation Expenditure $ $
- At cost 16,720,865 5,561,754
- Net expenses incurred in the year and capitalised 15,967,304 9,535,563
- Share-based payments (Note 5) 22,807,371 3,341,053
- Foreign exchange movement 6,243,527 82,212
- Expenditure impairment (4,798,053) (1,799,717)
- Net carrying value 56,941,014 16,720,865
Exploration expenditure is carried forward in accordance with the accounting policy and comprises expenditure
incurred on the acquisition and exploration of tenement interests for oil and gas.
Recoverability of the carrying amount of exploration assets is dependent on the successful exploration and sale of oil
and gas.
Capitalised costs amounting to $9,974,966 (2012: $9,535,563) have been included in cash flows from investing
activities in the Statement of Cash Flows of the economic entity.
Share based payments includes an amount of $14,597,954 for shares issued to Amerril Energy LLC as part
consideration of the Amerril Oil Project. Sun has a 50% interest in the Amerril Oil Project joint venture.
Expenditure impairment relates to $4,798,053 to write-off the carrying value of L20/50 in Thailand.
11 Oil and gas production assets
Producing Projects
- At cost - 946,000
- Net expenses incurred in the year and capitalised 5,369,367 199,324
- Foreign exchange movement 302,879 (44,326)
- Expenditure written-off (i) and (ii) (2,929,104) (1,100,998)
- Amortisation of oil and gas properties (471,350) -
- Net carrying value 2,271,792 -
SUN RESOURCES ANNUAL REPORT 2013 60
NOTES TO AND FORMING PART OF THE CONSOLIDATED
FINANCIAL STATEMENTS