Icon Energy Limited Annual Report 2016

ICON ENERGY LIMITED AND ITS CONTROLLED ENTITIES FOR THE YEAR ENDED 30 JUNE 2016 NOTE 18 - JOINT ARRANGEMENTS AND MINING TENEMENTS HELD Basin Interest % Interest % 30 June 2016 30 June 2015 33.33% 33.33% 100.00% 100.00% 60.00% 60.00% 100.00% 100.00% 35.10% 35.10% 33.33% 33.33% 100.00% 100.00% Gippsland 100.00% 100.00% Gippsland 100.00% 100.00% 30 June 2016 30 June 2015 NOTE $ $ 6 34,225 - 34,225 - 9 30,594,354 38,274,984 30,594,354 38,274,984 30,628,579 38,274,984 CURRENT LIABILITIES Joint arrangements liabilities 10 233 565,410 Total joint arrangements liabilities 233 565,410 NON-CURRENT LIABILITIES 1,196,835 1,196,835 Total joint arrangements liabilities 1,196,835 1,196,835 1,197,068 1,762,245 EXPENSES Exploration and evaluation related expenses 150,062 155,142 Share of total expenses related to joint arrangements* 150,062 155,142 PEP 170 Cooper Eromanga PEP 172 ** Gippsland Cooper Eromanga ATP 855P Total current assets Total non current assets Share of total assets in joint arrangements Exploration and evaluation expenditure at cost PEP 173 ** Interests in joint operations are accounted for by including the group’s portion of assets, liabilities, revenue and expenses. Information relating to joint ventures that are material to the consolidated entity are set out below: ATP 626P ** Permit to be granted CONSOLIDATED ENTITY NON-CURRENT ASSETS The following is a list of active mining tenements held by Icon Energy and its subsidiaries. ATP 594P ATP 549P West Cooper Eromanga NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS PRLs33-49* * Formerly PEL 218 (Post Permian Section). Cooper Eromanga Oil and Gas Cooper Eromanga ATP 794P Regleigh & Springfield * Expenses do not include impairment of exploration and evaluation joint arrangement assets. Restoration provision Share of total liabilities in joint arrangements Prepayments for deferred exploration and evaluation expenditure CURRENT ASSETS Surat NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the year ended 30 June 2016 FINANCIAL REPORT 52 ICON ENERGY ANNUAL REPORT 2016