34 Borders & Southern Petroleum plc Annual Report & Accounts 2014 NOTES TO THE FINANCIAL STATEMENTS  CONTINUED On 8 November 2012 the Company received approval from The Falkland Islands Government to proceed into the second term  for Production Licences PL018, PL019 and part of PL020. The other part of PL020, Licence PL021 and PL022 were relinquished.  The second term of the licences expires on 1 November 2017.  10 PROPERTY, PLANT AND EQUIPMENT GROUP AND COMPANY Office  equipment  $000 Cost As at 1 January 2013 113 Additions – As at 31 December 2013 113 Depreciation As at 1 January 2013 91 Charge for the year 9 As at 31 December 2013 100 Net book value As at 31 December 2013 13 Office  equipment  $000 Cost As at 1 January 2014 113 Additions – As at 31 December 2014 113 Depreciation As at 1 January 2014 100 Charge for the year 2 As at 31 December 2014 102 Net book value As at 31 December 2014 11 11 INTANGIBLE ASSETS Group  Explorationand  evaluation costs  $000 Cost As at 1 January 2013 258,011 Additions 28,939 As at 31 December 2013 286,950 Net book value As at 31 December 2013 286,950 Group  Explorationand  evaluation costs  $000 Cost As at 1 January 2014 286,950 Additions 3,016 As at 31 December 2014 289,966 Net book value As at 31 December 2014 289,966 FOR THE YEAR ENDED 31 DECEMBER 2014