* The value at exercise date of options that were granted as part of their remuneration and were exercised during the financial year has been  determined as the intrinsic value of the options at that date. No amounts are unpaid on any ordinary shares issued on the exercise of the above remuneration options. For each grant of options in current or previous financial years which results in an amount being disclosed in the Remuneration  Report as a share-based payment expense in the financial year to Directors and other key management personnel, the percentage  of the grant that vested in the financial year and the percentage that was forfeited because the individual did not meet the service  criteria is set out below: No options will vest if the service criteria conditions are not met, therefore the minimum value of the option yet to vest is $Nil. The maximum value of options yet to vest was determined as the amount of the grant date fair value of the options that is yet to be expensed in the consolidated statement of comprehensive income. Karoon Gas Australia Ltd  Annual Report 2011 29 Financial  Maximum  Years in  Total Value  Financial Year  Vested  Forfeited  Which Options  of Grant  Name  End Granted  %  %  May Vest  Yet to Vest Executive Directors  Mr Robert Hosking  -  -  -  -  - Mr Mark Smith  -  -  -  -  - Non-Executive Directors  Mr Geoff Atkins  2010  -  -  30 June 2013  $536,529 Mr Clark Davey  2011  -  -  30 June 2014  $1,092,619 Mr Stephen Power  2010  -  -  30 June 2013  $536,529 Other key management personnel (Group) Mr Scott Hosking  2011  100.0  -  -  - Mr Tim Hosking  -  -  -  -  - Mr Lino Barro  2010  -  -  30 June 2012  $190,287 2011  -  -  30 June 2013  $117,982 Mr Edward Munks  2011  -  -  30 June 2013  $300,659 Number of  Amount  Date of  Ordinary  Value at  Paid Per  Exercise  Shares  Exercise  Ordinary  Name  of Options  Issued  Date# *  Share Non-Executive Directors  Mr Geoff Atkins  30 September 2010  220,000  $1,012,000  $2.95 1 October 2010  280,000  $1,436,400  $2.95 Mr Clark Davey  -  -  -  - Mr Stephen Power  23 September 2010  200,000  $924,000  $2.95 30 September 2010 300,000  $1,380,000  $2.95 Other key management personnel (Group)  Mr Scott Hosking  12 October 2010  100,000  $628,000  $2.95 11 April 2011  50,000  $124,000  $5.00 2 May 2011  50,000  $75,000  $5.00 Mr Tim Hosking  -  -  -  - Mr Lino Barro  14 February 2011  100,000  $273,000  $5.00 Mr Edward Munks  22 March 2011  15,000  $23,250  $5.00 11 April 2011  15,000  $37,200  $5.00 E. Additional Information Details of Remuneration – Options