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31 December 2012
NOTESTO FINANCIAL STATEMENTS
94 GEO ENERGY RESOURCES LIMITED | Annual Report 2012
36 COMMITMENT
At the end of the year, the capital expenditure contracted for but not recognised in the consolidated fnancial
statements is as follows:
Commitment for purchase of property, plant and equipment:
Group
2012 2011
US$ US$
Authorised and contracted for 33,115,921 8,039,946
37 SUBSEQUENT EVENT
On 25 February 2013, the Company entered into conditional sale and purchase agreements to acquire
call options over the shares of four companies incorporated in Indonesia (the “Target Companies”),
from Gold Lion Resources Limited (the “Vendor”). Each of these Target Companies, namely
PT Bomboy Central Prima Coal (“BCPC”), PT Central Coalindo Utama (“CCU ”), PT Karya Pertama Prima (“KPP”)
and PT Kencana Wilsa (“KW”), is the holder of a production operations mining business license. Upon exercise of
the options, the Company will hold 93% of the shareholding interests in each of the Target Companies.
As of the date of this report, the Company has paid the Vendor an aggregated refundable deposit of US$2,000,000
(being US$500,000 for each Target Company). For the purpose of securing the performance of the Vendor’s
obligation to refund, the Vendor has provided a banker guarantee of US$2,000,000 to the Company.