Icon Energy Limited Annual Report 2017

ICON ENERGY LIMITED AND ITS CONTROLLED ENTITIES FOR THE YEAR ENDED 30 JUNE 2017 NOTE 17 - JOINT ARRANGEMENTS AND MINING TENEMENTS HELD Basin Interest % Interest % 30 June 2017 30 June 2016 0.00% 33.33% 100.00% 100.00% 60.00% 60.00% 100.00% 100.00% 100.00% 35.10% 33.33% 33.33% 100.00% 100.00% Gippsland 100.00% 100.00% Gippsland 100.00% 100.00% 30 June 2017 30 June 2016 NOTE $ $ 5 - 34,225 - 34,225 8 1,647,937 30,594,354 1,647,937 30,594,354 1,647,937 30,628,579 CURRENT LIABILITIES Joint arrangements liabilities 9 - 233 Total joint arrangements liabilities - 233 NON-CURRENT LIABILITIES - 1,196,835 Total joint arrangements liabilities - 1,196,835 - 1,197,068 EXPENSES Exploration and evaluation related expenses - 150,062 Share of total expenses related to joint arrangements* - 150,062 Gippsland Cooper Eromanga Cooper Eromanga Prepayments for deferred exploration and evaluation expenditure 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: The following is a list of active mining tenements held by Icon Energy and its subsidiaries. NON-CURRENT ASSETS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Total current assets CONSOLIDATED ENTITY Total non current assets Share of total assets in joint arrangements Cooper Eromanga * Expenses do not include impairment of exploration and evaluation joint arrangement assets. Restoration provision Share of total liabilities in joint arrangements CURRENT ASSETS Surat Exploration and evaluation expenditure at cost Cooper Eromanga Cooper Eromanga Oil and Gas ATP 549P West * ATP 594P ATP 794P Regleigh & Springfield ATP 626P ** ATP 855P PRLs33-49 *** PEP 170 PEP 172 **** PEP 173 **** * Permit relinquished on 30 April 2017 ** Permit in the process of relinquishment *** Formerly PEL 218 (Post Permian Section). **** Permit to be granted NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the year ended 30 June 2017 FINANCIAL REPORT 52 ICON ENERGY ANNUAL REPORT 2017