CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE FINANCIAL YEAR ENDED 30 JUNE 2011 Consolidated 2011 2010 Note  $ $ Revenue  4  14,225,048 6,459,623 Other income  4  - 914 Total revenue and other income  14,225,048 6,460,537 Computer support  (623,097) (489,646) Consulting fees  (985,930) (822,971) Depreciation and amortisation expense  5  (531,245) (415,667) Employee benefits expense (net)  (8,529,761) (6,719,729) Exploration and evaluation expenditure expensed or written off  5  (4,662,554) (136,812) Farm-out costs  (258,385) (89,112) Finance costs  5  (456,290) (244,275) Insurance expense  (575,172) (215,429) Legal fees  (349,722) (452,202) Net foreign currency losses  (10,440,658) (8,514,337) Property costs  (775,632) (274,646) Share registry and listing fees  (518,330) (485,285) Telephone and communication expenses  (286,075) (164,276) Travel and accommodation expenses  (754,146) (842,774) Brazilian initial public offering expenses  (5,673,914) (407,317) Other expenses  (2,109,051) (851,076) Total expenses  (37,529,962) (21,125,554) Loss before income tax  (23,304,914)  (14,665,017) Income tax expense  6  - (228,822) Loss for financial year (23,304,914) (14,893,839) Other comprehensive income (loss): Exchange differences arising from the translation of financial statements of foreign subsidiaries  (9,347,931) 2,833,583 Income tax relating to components of other comprehensive loss  - - Other comprehensive income (loss) for financial year, net of tax (9,347,931) 2,833,583 Total comprehensive loss for financial year (32,652,845) (12,060,256) Earnings per share for loss attributable to equity holders of the Company: Basic loss per ordinary share  9  (0.1119) (0.0842) Diluted loss per ordinary share  9  (0.1119) (0.0842) The above consolidated statement of comprehensive income should be read in conjunction with the accompanying notes. 33 Karoon Gas Australia Ltd  Annual Report 2011