38 Borders & Southern Petroleum plc Annual Report & Accounts 2014 NOTES TO THE FINANCIAL STATEMENTS  CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2014 20 FINANCIAL INSTRUMENTS  CONTINUED C) CREDIT RISK Neither the Group nor the Company have customers so formal credit procedures are in the process of being established.  During drilling operations, the Group incurred 100% of costs that were shared with other companies and these were invoiced  to these companies with all amounts due for these shared costs paid to the Group during the year. Credit risk on cash balances  is managed by only banking with reputable financial institutions with a high credit rating. The only significant concentration of  credit risk on an ongoing basis is cash held at bank and the maximum credit risk exposure for the Group and Company is detailed  in the table below: The objective of the Directors is to maximise shareholder return and minimise risk by keeping a reasonable balance between  debt and equity. To date the Group has minimised risk by being purely equity financed. The Group considers its capital to  comprise its ordinary share capital, share premium, accumulated retained deficit and other reserves. CAPITAL 2014 2013 Carrying  Value  $000 Maximum  exposure  $000 Carrying  Value  $000 Maximum  exposure  $000 Cash and cash equivalents 16,079 16,079 23,290 23,290 Maximum credit risk exposure 16,079 16,079 23,290 23,290