Estimates for future exploration expenditure commitments to government are based on estimated well and seismic costs, which  will change as actual drilling locations and seismic surveys are organised, and are determined in current dollars on an undiscounted  basis. The exploration and evaluation obligations may vary significantly as a result of renegotiations with relevant parties. The commitments may also be reduced by the Group entering into farm-out agreements, which are typical of the normal operating  activities of the Group. Where exploration and evaluation expenditure included in this category relates to an existing contract for expenditure, the amount  will be included in both categories (a) and (c) above. Note 26. Notes to the Consolidated Statement of Cash Flows  Reconciliation of Loss for Financial Year to Net Cash Flows Used in Operating Activities 2011 2010 $ $ Loss for financial year  (23,304,914) (14,893,839) Add (subtract): Depreciation of plant and equipment and amortisation of computer software  531,245 415,667 Net foreign currency losses  9,675,904 8,393,323 Non-cash employee benefits expense: share-based payments expense  5,069,475 5,289,047 Items classified as investing/financing activities: Exploration and evaluation expenditure written off  3,881,892 - Net foreign currency losses  764,754 121,005 Net loss on disposal of plant and equipment  82,945 - Change in operating assets and liabilities  (Increase) decrease in assets: Receivables – current  (959,099) 93,443 Security deposits  (2,855,838) (1,182,800) Other assets  466,076 (411,374)  Increase (decrease) in liabilities: Trade and other payables – current  826,430 173,457 Provisions  38,746 (33,217) Income tax liability  (220,227) 228,822 Net cash flows used in operating activities  (6,002,611) (1,806,466) Consolidated Consolidated 2011 2010 $ $ Not later than one year  155,694,566 40,061,235 Later than one year but not later than five years  265,895,674 215,123,116 Total exploration expenditure commitments  421,590,240 255,184,351 The above commitments include exploration expenditure commitments relating to joint venture operations:  Not later than one year  155,694,566 40,061,235 Later than one year but not later than five years  146,836,168 156,618,029 Total joint venture operation exploration expenditure commitments  302,530,734 196,679,264 Karoon Gas Australia Ltd  Annual Report 2011 71