CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2011 Consolidated 2011 2010 Note  $ $ Current assets Cash and cash equivalents  10  266,839,144 87,122,836 Receivables  11  4,003,566 4,873,578 Inventories  12  279,892 360,081 Security deposits  13  41,301,743 12,091,872 Other assets  14  3,525,878 710,376 Total current assets 315,950,223 105,158,743 Non-current assets Plant and equipment  15  2,216,532 607,552 Intangible assets  16  480,041 354,922 Exploration and evaluation expenditure carried forward  17  276,465,002 265,243,372 Security deposits  13  26,058,837 4,547,690 Other assets  14  1,102,759 - Total non-current assets 306,323,171 270,753,536 Total assets 622,273,394 375,912,279 Current liabilities Trade and other payables  18  4,306,586 13,912,243 Income tax liability  6  - 235,727 Total current liabilities 4,306,586 14,147,970 Non-current liabilities Provisions  19  99,484 60,738 Total non-current liabilities 99,484 60,738 Total liabilities 4,406,070 14,208,708 Net assets 617,867,324 361,703,571 Equity Issued capital  20  664,894,335 381,147,212 Accumulated losses  (58,015,354) (34,710,440) Share-based payments reserve  18,348,582 13,279,107 Foreign currency translation reserve  (7,360,239) 1,987,692 Total equity 617,867,324 361,703,571 The above consolidated statement of financial position should be read in conjunction with the accompanying notes. 34 Karoon Gas Australia Ltd  Annual Report 2011