CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE FINANCIAL YEAR ENDED 30 JUNE 2011 The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes. Karoon Gas Australia Ltd  Annual Report 2011 35 Consolidated Foreign Share-based  Currency  Issued Accumulated  Payments  Translation  Total  Capital  Losses  Reserve  Reserve  Equity $  $  $  $  $ Balance as at 1 July 2009  347,331,271  (19,816,601)  7,990,060  (845,891) 334,658,839 Loss for financial year  -  (14,893,839)  -  -  (14,893,839) Exchange differences arising from the translation of financial statements of foreign subsidiaries  -  -  -  2,833,583  2,833,583 Total comprehensive loss for financial year  -  (14,893,839)  -  2,833,583  (12,060,256) Transactions with owners in their capacity as owners: Ordinary shares issued  34,104,259  -  -  -  34,104,259 Transaction costs arising on ordinary shares issued  (288,318)  -  -  -  (288,318) Share-based payments expense  -  -  5,289,047  -  5,289,047 33,815,941  -  5,289,047  -  39,104,988 Balance as at 30 June 2010  381,147,212  (34,710,440)  13,279,107  1,987,692  361,703,571 Loss for financial year  -  (23,304,914)  -  -  (23,304,914) Exchange differences arising from the translation of financial statements of foreign subsidiaries  -  -  -  (9,347,931)  (9,347,931) Total comprehensive loss for financial year -  (23,304,914)  -  (9,347,931)  (32,652,845) Transactions with owners  in their capacity as owners: Ordinary shares issued  292,461,747  -  -  -  292,461,747 Transaction costs arising on ordinary shares issued  (8,714,624)  -  -  -  (8,714,624) Share-based payments expense  -  -  5,069,475  -  5,069,475 283,747,123  -  5,069,475  -  288,816,598 Balance as at 30 June 2011  664,894,335  (58,015,354)  18,348,582  (7,360,239) 617,867,324