Sasol Form 20-F for the year ended 30 June 2021 - Book - Page 121
Definitions of Changes to Proved Reserves
The definitions of the changes to Proved Reserves estimates used in this disclosure are consistent with FASB
ASC 932-235-50-5.
TABLE 5—STANDARDISED MEASURE OF DISCOUNTED FUTURE NET CASH FLOWS RELATING TO
PROVED RESERVES
The standardised measures of discounted future net cash flows, relating to natural oil and gas proved reserves
for the last three years, are shown in the table below.
Natural Oil and Gas (Rand in millions)
Gabon(1)
Canada(2)
32 123,0
(6 462,7)
(5 451,1)
(7 612,7)
12 596,5
(3 543,2)
9 053,3
2 066,2
(1 541,2)
(764,8)
(132,0)
(371,8)
146,4
(225,4)
1 088,3
(1 167,3)
(1 143,0)
0,0
(1 222,0)
365,5
(856,5)
35 277,5
(9 171,2)
(7 358,9)
(7 744,7)
11 002,7
(3 031,3)
7 971,4
28 517,7
(9 054,8)
(6 173,6)
(5 675,0)
7 614,3
(889,5)
6 724,8
1 771,4
(1 338,3)
(733,6)
(112,2)
(412,7)
138,6
(274,1)
1 552,2
(2 592,2)
(1 100,0)
0,0
(2 140,0)
1 136,8
(1 003,2)
31 841,3
(12 985,3)
(8 007,2)
(5 787,2)
5 061,6
385,9
5 447,5
12 314,7
(4 169,1)
(4 031,5)
(2 486,5)
1 627,6
109,8
1 737,4
—
—
—
—
—
—
—
—
—
—
—
—
—
—
12 314,7
(4 169,1)
(4 031,5)
(2 486,5)
1 627,6
109,8
1 737,4
Mozambique
Year ended 30 June 2019
Future cash inflows . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Future production costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Future development costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Future income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Undiscounted future net cash flows . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10% annual discount for timing of estimated cash flows . . . . . . . . . . . .
Standardised measure of discounted future net cash flows . . . . . . . . . .
Year ended 30 June 2020
Future cash inflows . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Future production costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Future development costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Future income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Undiscounted future net cash flows . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10% annual discount for timing of estimated cash flows . . . . . . . . . . . .
Standardised measure of discounted future net cash flows . . . . . . . . . .
Year ended 30 June 2021
Future cash inflows . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Future production costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Future development costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Future income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Undiscounted future net cash flows . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10% annual discount for timing of estimated cash flows . . . . . . . . . . . .
Standardised measure of discounted future net cash flows . . . . . . . . . .
Total
(1)
Effective date of divestment of our interests in the EMP in Gabon was 25 Feburary 2021.
(2)
Sasol signed an agreement to divest of all our interests in Canada. The transaction closed on 29 July 2021. Future cashflows and costs are
therefore indicated as zero.
Our Farrell Creek and Cypress A asset was classified as assets and liabilities in disposal group held for sale at
30 June 2021, and was effectively divested during July 2021.
Standardised measure of discounted future net cash flows
The standardised measure of discounted future net cash flows, relating to the proved reserves in the table above,
are calculated in accordance with the requirements of FASB ASC Section 932-235. Future cash inflows are computed by
applying the prices used in estimating proved reserves to the year-end quantities of those reserves. Future development
and production costs are computed by applying the costs used in estimating proved reserves. Future income taxes are
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