88 2011 2010 Note $000 $000ASSETS Non-current assets Property, plant and equipment 5(a) 498,834 403,342Other intangible assets 5(b) 23,546 23,371Other receivable 6 24,238 20,485Deferred tax assets 26 13,432 13,583 560,050 460,781Current assets Inventories 8 3,669 2,343Trade and other receivables 9 21,405 24,396Restricted cash 10 9,777 -Cash and cash equivalents 10 19,122 62,018 53,973 88,757Total assets 614,023 549,538LIABILITIES Current liabilities Current tax liabilities (2,778) (3,630)Trade and other payables 11 (44,509) (58,332)Borrowings 12 (35,930) -Derivative liability 13 (3,169) - (86,386) (61,962)Non-current liabilities Provisions 17 (3,445) (3,274)Other payables (4,356) (3,595)Deferred tax liabilities 26 (13,061) (12,041) (20,862) (18,910)Total liabilities (107,248) (80,872)Net assets 506,775 468,666EQUITY Share capital 15 26,657 26,649Share premium 97,476 97,363Merger reserve 30,680 30,680Other reserves: - Capital redemption reserve 587 587- Equity - share options 5,483 3,914- Equity - foreign currency translation (46,479) (28,096)- Equity - hedge reserve 2,872 -Retained earnings 389,499 337,569Total shareholders' equity 506,775 468,666These financial statements on pages 87 to 124 were approved by the Board of Directors on 27 March 2012 and signed on its behalf by:Dr Paul Davies Cynthia DubinDirector DirectorGroup financial statementsConsolidated statement of financial positionas at year ended 31 December

JKX Oil & Gas plc Annual Report 201189At a glance01-17Board statements18-23Operational review24-36Financial review37-47CSR review48-61Directors' reports62-83Financial statements84-136 Equity Foreign Capital Share currency Share Share Merger redemption options translation Hedge Retained Total capital premium reserve reserve reserve reserve reserve earnings equity $000 $000 $000 $000 $000 $000 $000 $000 $000At 1 January 2010 24,335 41,317 30,680 587 3,139 (25,306) - 329,572 404,324Profit for the year - - - - - - - 21,156 21,156Exchange differences arising on translation of overseas operations - - - - - (2,790) - - (2,790)Total comprehensive income attributable to owners of the parent - - - - - (2,790) - 21,156 18,366Transactions with owners Issue of ordinary shares 2,314 58,294 - - - - - - 60,608Transaction cost for issue of ordinary shares - (2,248) - - - - - - (2,248)Share-based payment charge - - - - 775 - - - 775Dividends paid - - - - - - - (13,159) (13,159)Total transactions with owners 2,314 56,046 - - 775 - - (13,159) 45,976At 31 December 2010 26,649 97,363 30,680 587 3,914 (28,096) - 337,569 468,666At 1 January 2011 26,649 97,363 30,680 587 3,914 (28,096) - 337,569 468,666Profit for the year - - - - - - - 59,137 59,137Exchange differences arising on translation of overseas operations - - - - - (18,383) - - (18,383)Net movement on cash flow hedges - - - - - - 2,872 - 2,872Total comprehensive income attributable to owners of the parent - - - - - (18,383) 2,872 59,137 43,626Transactions with owners Issue of ordinary shares 8 113 - - - - - - 121Share-based payment charge - - - - 1,569 - - - 1,569Dividends paid - - - - - - - (7,207) (7,207)Total transactions with owners 8 113 - - 1,569 - - (7,207) (5,517)At 31 December 201126,657 97,476 30,680 587 5,483 (46,479) 2,872 389,499 506,775Group financial statementsConsolidated statement of changes in equity