Page 18 - Condensed Interim Financial Information - Nine Months Ended March 31, 2018

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For the nine months period ended March 31, 2018
Selected notes to and forming part of the Condensed Interim
Financial Information (Unaudited)
1. Legal status and operations
2. Statement of compliance
3. Accounting policies
4. Revenue reserves
200,000
1,557,794
25,187,370
26,945,164
5. Deferred liabilities
6,550,426
9,843,181
8,172
16,401,779
6. Trade and other payables
The Company is incorporated in Pakistan as a public limited company and its shares are
quoted on Pakistan Stock Exchange Limited. The registered office of the Company is situated
at Morgah, Rawalpindi. The Company is principally engaged in exploration, drilling and
production of crude oil and gas. Its activities also include marketing of liquefied petroleum gas
under the brand name POLGAS and transmission of petroleum. The Company is a subsidiary
of The Attock Oil Company Limited, UK and its ultimate parent is Bay View International
Group S.A.
The condensed interim financial information of the Company for the nine month period ended
March 31, 2018 has been prepared in accordance with the requirements of the International
Accounting Standard 34 - InterimFinancial Reporting and CompaniesAct 2017.
The accounting policies and the methods for computation adopted for the preparation of this
condensed interim financial information is the same as those applied in preparation of the
financial statements for the year ended June 30, 2017.
Insurance reserve
200,000
Investment reserve
1,557,794
Unappropriated profit
27,372,672
29,130,466
Provision for deferred income tax
6,411,100
Provision for decommissioning cost
8,578,227
Provision for staff compensated absences
10,075
14,999,402
These include balances due to joint venture partners amounting to Rs 2,157,491 thousand
(June 30, 2017: Rs 2,158,196 thousand) and balances due to related parties amounting to
Rs 493,213 thousand (June 30, 2017: Rs 130,469 thousand).
Mar. 31, 2018
Jun. 30, 2017
Rupees ('000)