V ALIANT PETROLEUM PLC Annu A l Repo R t & Accounts 2009 ...
V ALIANT PETROLEUM PLC Annu A l Repo R t & Accounts 2009 ...
V ALIANT PETROLEUM PLC Annu A l Repo R t & Accounts 2009 ...
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Valiant Petroleum plc<br />
Notes to the consolidated financial statements continued<br />
year ended 31st December <strong>2009</strong><br />
13. Intangible assets<br />
58<br />
E&E assets<br />
$’000<br />
Cost<br />
At 1 October 2007 (restated) 63,069 280 63,349<br />
Additions 110,260 275 110,535<br />
Transfer to tangible assets (42,790) – (42,790)<br />
Amounts written off (see note 9) (25,660) – (25,660)<br />
Translation adjustments (41,449) (148) (41,597)<br />
At 31 December 2008 (restated) 63,430 407 63,837<br />
Additions 23,070 3 23,073<br />
Amounts written off (see note 9) (517) – (517)<br />
At 31 December <strong>2009</strong> 85,983 410 86,393<br />
Amortisation<br />
At 1 October 2007 (restated) – (96) (96)<br />
Impairment charge (28,589) – (28,589)<br />
Translation adjustment 6,878 86 6,964<br />
Charge for the year/period – (268) (268)<br />
At 31 December 2008 (restated) (21,711) (278) (21,989)<br />
Charge for the year/period – (113) (113)<br />
At 31 December <strong>2009</strong> (21,711) (391) (22,102)<br />
Carrying Amount<br />
At 31 December <strong>2009</strong> 64,272 19 64,291<br />
At 31 December 2008 (restated) 41,718 129 41,847<br />
At 30 September 2007 (restated) 63,069 184 63,253<br />
Additions for the year include an amount of $US 2.0 million deferred consideration in respect of the Causeway asset. This<br />
consideration relates to a payment due on the commencement of production from the asset.<br />
Other<br />
$’000<br />
Total<br />
$’000
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