Annual Report 2007 in PDF - Cairn Energy PLC

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NOTES TO THE ACCOUNTS CONTINUED 15. Property, Plant & Equipment – Other Tenants’ Vehicles and improvements equipment Total Group $’000 $’000 $’000 Cost At 1 January 2006 6,636 11,848 18,484 Exchange differences arising 284 727 1,011 Additions 3,307 1,450 4,757 Disposals (358) (189) (547) ––––––––––– ––––––––––– ––––––––––– At 1 January 2007 9,869 13,836 23,705 Exchange differences arising 35 152 187 Additions 782 2,314 3,096 Disposals – (6,202) (6,202) ––––––––––– ––––––––––– ––––––––––– At 31 December 2007 10,686 10,100 20,786 ––––––––––– ––––––––––– ––––––––––– Depreciation At 1 January 2006 3,696 10,630 14,326 Exchange differences arising 205 667 872 Charge for the year 1,687 1,458 3,145 Disposals (358) (171) (529) ––––––––––– ––––––––––– ––––––––––– At 1 January 2007 5,230 12,584 17,814 Exchange differences arising 27 83 110 Charge for the year 506 1,516 2,022 Disposals – (5,726) (5,726) ––––––––––– ––––––––––– ––––––––––– At 31 December 2007 5,763 8,457 14,220 ––––––––––– ––––––––––– ––––––––––– Net book value at 31 December 2007 4,923 1,643 6,566 ––––––––––– ––––––––––– ––––––––––– Net book value at 31 December 2006 4,639 1,252 5,891 ––––––––––– ––––––––––– ––––––––––– Net book value at 1 January 2006 2,940 1,218 4,158 ––––––––––– ––––––––––– ––––––––––– The net book value of assets held under finance leases or hire purchase contracts at 31 December 2007 was $3.8m (2006: $4.1m). Additions during the year include $0.3m (2006: $4.8m) of property, plant & equipment – other held under finance leases or hire purchase contracts. Leased assets are pledged as security for the related finance lease or hire purchase liability. 104 CAIRN ENERGY PLC ANNUAL REPORT 2007
NOTES TO THE ACCOUNTS CONTINUED Tenants’ Vehicles and improvements equipment Total Company $’000 $’000 $’000 Cost At 1 January 2006 2,139 5,025 7,164 Exchange differences arising 284 721 1,005 Additions 28 747 775 Disposals – (38) (38) ––––––––––– ––––––––––– ––––––––––– At 1 January 2007 2,451 6,455 8,906 Exchange differences arising 35 92 127 Additions 13 347 360 Disposals – (92) (92) ––––––––––– ––––––––––– ––––––––––– At 31 December 2007 2,499 6,802 9,301 ––––––––––– ––––––––––– ––––––––––– Depreciation At 1 January 2006 1,461 4,576 6,037 Exchange differences arising 205 626 831 Charge for the year 214 570 784 Disposals – (37) (37) ––––––––––– ––––––––––– ––––––––––– At 1 January 2007 1,880 5,735 7,615 Exchange differences arising 27 82 109 Charge for the year 101 505 606 Disposals – (23) (23) ––––––––––– ––––––––––– ––––––––––– At 31 December 2007 2,008 6,299 8,307 ––––––––––– ––––––––––– ––––––––––– Net book value at 31 December 2007 491 503 994 ––––––––––– ––––––––––– ––––––––––– Net book value at 31 December 2006 571 720 1,291 ––––––––––– ––––––––––– ––––––––––– Net book value at 1 January 2006 678 449 1,127 ––––––––––– ––––––––––– ––––––––––– The Company does not hold assets under finance leases or hire purchase contracts. CAIRN ENERGY PLC ANNUAL REPORT 2007 105
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ANNUAL REPORT & ACCOUNTS 2007 CAIRN
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CAIRN is an edinburgh based oil and
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CAIRN INDIA performance First comme
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2000 lakshmi disCovery 2001 sarasWa
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THE RESTRUCTURING OF THE GROUP INTO
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ajasthan midstream the government o
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Cambay Basin, India CAIRN ENERGY PL
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Cairn india assets 30% 30% 49% 40%
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Rajasthan, India the increased reso
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Detail heading here relore min ullu
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uk (West Of shetland) Block 214/19
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nePal the security situation in nep
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angladesh reserves sangu gross 2p r
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activities in all operated blocks.
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2007 marked the beginning of a new
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key financial performance indicator
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CAIRN INDIA CAPITAL EXPENDITURE FOR
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3 9 12 4 8 1 Sir Bill Gammell, Chie
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2007 ACCOUNTS Risk Factors 36 Corpo
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RISk FACTORS CONTINUED The developm
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RISk FACTORS CONTINUED Corporate Re
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CORPORATE GOVERNANCE STATEMENT CONT
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DIRECTORS’ REPORT CONTINUED At 31
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Page 59 and 60: DIRECTORS’ REMUNERATION REPORT Re
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Page 71 and 72: INDEPENDENT AUDITOR’S REPORT TO T
Page 73 and 74: PRINCIPAL LICENCE INTERESTS ASIA In
Page 75 and 76: GROUP INCOME STATEMENT For the year
Page 77 and 78: BALANCE SHEETS As at 31 December 20
Page 79 and 80: NOTES TO THE ACCOUNTS For the year
Page 81 and 82: NOTES TO THE ACCOUNTS CONTINUED Net
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Page 131 and 132: RESERVES Direct Direct working enti
Page 133 and 134: NOTICE OF ANNUAL GENERAL MEETING No
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Page 137 and 138: GLOSSARY OF TERMS CONTINUED TECHNIC
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