in the past year , the company dedicated significant time and resources to pursuing the acquisition of santos ' 40 % interest in a contingent 6.6 tcf gas field in the northern territory , australia , the evans shoal field . this transaction would likely have been transformational for magellan . the development of the field using methanol technology represented a creative solution to an otherwise long-term , stranded natural gas field . despite spirited effort , due to factors outside of the company 's control , magellan and santos agreed that the transaction would not be completed . the company had committed a $ 25 million towards the acquisition of the evans shoal field through two deposits and was returned a $ 10 million on july 22 , 2011 . 30 as a result , the company continued with a review of its assets and developed a rationalization plan . on september 14 , 2011 , magellan entered into an agreement with santos to swap its interest in the mereenie field for the purchase of the remaining interest in the producing palm valley gas field and exploration dingo field , all three fields located in the amadeus basin , onshore australia . upon completion of this transaction , which is subject to customary approvals and expected to close in the very near future , the company will receive the new asset interests described above , a cash contribution of a $ 25 million , and further subsequent bonus payments contingent upon future production , with a cumulative possible value of a $ 17.5 million . in addition , the company also entered into a long term gas supply agreement with santos for its palm valley gas field , which will provide incremental revenue and cash flows to support the company 's ongoing operations in australia . in parallel , the company focused on its under-developed , multiple formation , producing oil field in montana , the poplar field . building from the acquisition of 3d seismic in 2010 , and the acquisition of a set of cores and further data from a new well spud in 2010 , the company entered into a farm out agreement with vaalco energy for the bakken and deep formations of the poplar field . vaalco energy committed to drill three new wells in the poplar field by december 2012 and paid $ 5 million on september 6 , 2011 in consideration for a 65 % working interest in these deep intervals . the company will retain a 35 % working interest in the deep intervals and will continue to hold its current interest in all formations above the bakken formation , including the currently producing charles and tyler formations where all poplar proved and probable reserves are located . this transaction will enable the company to continue to focus on the development of the charles formation while also testing the bakken , red river and other potential deep formations in the poplar field . in the u.k. , magellan participated in the markwells wood-1 oil discovery . the well was spud , by northern petroleum in november 2010. a completion rig moved on site in september , 2011 to begin a series of incremental reservoir tests designed to measure oil flow response to several production strategies . the financial results for fiscal year ending june 30 , 2011 resulted in a consolidated loss of $ 32.4 million , or $ 0.62 per share . the net loss was largely the result of non-recurring charges of approximately $ 23.3 million , including $ 15.9 million relating to the evans shoal deposit and $ 7.0 million relating to the valuation allowance for deferred tax assets . in addition , the company incurred materially higher consulting costs and expenses related to the transactions pursued during the fiscal year ending june 30 , 2011. the financial results of the company were particularly negatively impacted by the $ 10.3 million reduction in consolidated revenues from fy 2010 to fy 2011 , which primarily resulted from the end of the gas sales contract at mereenie and the reduction in gas sales volume from palm valley . the reduction in revenues from the company 's australian operations underpinned the completion of the rationalization plan described above . the company has now completed a series of key transactions that will enable ( a ) increased control over its asset portfolio , ( b ) several new , concurrent development programs for the poplar field , and ( c ) provide incremental resources to fund existing development plans and new opportunities . overview of our fy 2011 financial results magellan realized a 87 % decrease in gas sales this fiscal year due to the term end of the mereenie sales agreement and the volume decrease at palm valley which is according to the palm valley contract , resulting in years ended june 30 , 2011 gas sales of $ 1.8 million ( net of royalties ) or 10 % of total revenues for the years ended june 30 , 2011 and was offset by a 12.1 % increase in the average exchange rate and a 1 % increase in the average price per mcf received under the palm valley contract . oil sales increased by 20 % this fiscal year due to oil sales related to the poplar field assets acquired in october 2009 and march 2010 and a 15 % increase in the price per barrel in the united states resulting in years ended june 30 , 2011 oil sales of $ 11.8 million ( net of royalties ) or 65 % of total revenues for the years ended june 30 , 2011 . story_separator_special_tag prior costs were capitalized during the fiscal year ended june 30 , 2006 and remained capitalized through the date of the sale as the related well had a sufficient quantity of reserves to justify its completion as a producing well . goodwill the aggregate amount of goodwill is $ 4,695,204 at june 30 , 2011 and 2010 , of which $ 4,020,706 is related to the fiscal 2006 acquisition of the 44.87 % of mpal that we did not own at the time and $ 674,500 is attributable to the october 15 , 2009 acquisition of nautilus . 36 goodwill is not amortized but is tested for impairment annually or whenever events or changes in circumstances indicate that the carrying value may be impaired . our annual impairment testing date for mpal related goodwill is june 30 and is october 1 for nautilus . goodwill is tested for impairment using a two-step process . step one  the fair value of each reporting unit is compared to its carrying value in order to identify potential impairment . if the fair value of a reporting unit exceeds the carrying value of its net assets , goodwill is not considered impaired and no further testing is required . if the carrying value of the net assets exceeds the fair value of a reporting unit , potential impairment is indicated and step two of the impairment test is performed in order to determine the implied fair value of the reporting unit 's goodwill and measure the potential impairment loss . step two  when potential impairment is indicated in step one , we compare the implied fair value of reporting unit goodwill with the carrying amount of that goodwill . determining the implied fair value of goodwill requires a valuation of the reporting unit 's tangible and intangible assets and liabilities in a manner similar to the allocation of the purchase price in a business combination . any excess of the value of a reporting unit over the amounts assigned to its assets and liabilities is referred to as the implied fair value of goodwill . if the carrying amount of reporting unit goodwill exceeds the implied fair value of that goodwill , an impairment loss is recognized in an amount equal to that excess . at june 30 , 2011 , magellan passed step one and therefore the company concluded step two was not necessary , as no impairment existed . determining the fair value of a reporting unit involves the use of significant estimates and assumptions . we employed the adjusted net assets method to estimate the fair value of mpal at june 30 , 2011. this method entails estimating the fair value of all of mpal 's balance sheet items as of the valuation date . the company has utilized the market approach , specifically the similar transaction method ( stm ) in order to estimate the fair value of mpal 's acreage and oil and natural gas reserves ( collectively , the mpal reserves ) on the balance sheet . the mpal reserves are reflected on the balance sheet as oil and gas properties . this line includes exploration phase petroleum properties ( i.e . exploratory acreage ) and production phase petroleum properties ( i.e . proved and probable oil and natural gas reserves ) . in its application of the stm , the company reviewed publicly available transaction data for the sale of comparable resources in the u.k. and australia in order to estimate the fair value of mpal reserves . if the adjusted equity value , after considering the fair values of the assets and liabilities , is greater than the carrying value of mpal , then no impairment is indicated . management believes that this methodology is most meaningful since the highest and best use of these assets would be to continue to hold and exploit the assets over time . no impairment existed as the adjusted fair value exceeded the carrying value by 25 % , as of june 30 , 2011. the fair value of our oil properties are estimated using a form of the market approach , which consists of a review of similar transactions that have occurred in the marketplace for proved and risk adjusted probable and possible reserves . accordingly , we have reviewed implied prices per thousand cubic feet equivalent associated with market-based transactions in similar geographic locations for each of our oil properties , and selected appropriate metrics based on a qualitative comparison between our oil properties and the relevant transactions . the fair value of our non-depletable exploration permits and licenses is estimated based on a review of similar transactions that have occurred in the marketplace . accordingly , we have reviewed implied prices per acre associated with market-based transactions in similar geographic locations for our non-depletable exploration permits and licenses , and selected appropriate metrics based on a qualitative comparison between our non-depletable exploration permits and the relevant transactions . at october 1 , 2010 , we performed our annual impairment test of the nautilus goodwill . we employed both the income approach ( discounted cash flow method ) and the market value approach in estimating the fair value of nautilus . as of october 1 , 2010 , no impairment existed as the indicated fair value of nautilus , based upon our estimate , exceeded its carrying value by 48 % as of october 1 , 2010 . 37 asset retirement obligations legal obligations associated with the retirement of long-lived assets are recognized at their fair value at the time that the obligations are incurred . upon initial recognition of a liability , the cost is capitalized as part of the related long-lived asset ( oil & gas properties ) and amortized on a units-of-production basis over the life of the related reserves . accretion expense in connection with the discounted liability is recognized over the remaining life of the related reserves . the estimated liability

consolidated liquidity and capital resources historically , we have funded our acquisition , exploration and development activities through cash from operations and debt facilities at nautilus . magellan 's corporate plan is to add long-term value and growth 38 through the acquisition and redevelopment of under-exploited natural gas and oil reserves . the company estimates that its capital expenditures for the fiscal year ending june 30 , 2012 to amount to approximately $ 33.6 million , arising from our operations in the u.s. , australia , and the u.k. of $ 29.4 million , $ 2.0 million and $ 2.2 million , respectively . the company has complete discretion over the expenditures in the u.s. and will be able to adjust them in accordance with its funding priorities and strategy . the company intends to fund these capital expenditures with cash on hand and cash flow from operations , including the proceeds received from transactions described in the subsequent events footnote ( see note 20 ) . consolidated the company on a consolidated basis had approximately $ 20.4 million of cash and cash equivalents at june 30 , 2011 and $ 33.6 million at june 30 , 2010. the company considers cash equivalents to be short term , highly liquid investments that are both readily convertible to known amounts ofcash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```consolidated liquidity and capital resources historically , we have funded our acquisition , exploration and development activities through cash from operations and debt facilities at nautilus . magellan 's corporate plan is to add long-term value and growth 38 through the acquisition and redevelopment of under-exploited natural gas and oil reserves . the company estimates that its capital expenditures for the fiscal year ending june 30 , 2012 to amount to approximately $ 33.6 million , arising from our operations in the u.s. , australia , and the u.k. of $ 29.4 million , $ 2.0 million and $ 2.2 million , respectively . the company has complete discretion over the expenditures in the u.s. and will be able to adjust them in accordance with its funding priorities and strategy . the company intends to fund these capital expenditures with cash on hand and cash flow from operations , including the proceeds received from transactions described in the subsequent events footnote ( see note 20 ) . consolidated the company on a consolidated basis had approximately $ 20.4 million of cash and cash equivalents at june 30 , 2011 and $ 33.6 million at june 30 , 2010. the company considers cash equivalents to be short term , highly liquid investments that are both readily convertible to known amounts ofcash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates .
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 Suspicious Activity Report : in the past year , the company dedicated significant time and resources to pursuing the acquisition of santos ' 40 % interest in a contingent 6.6 tcf gas field in the northern territory , australia , the evans shoal field . this transaction would likely have been transformational for magellan . the development of the field using methanol technology represented a creative solution to an otherwise long-term , stranded natural gas field . despite spirited effort , due to factors outside of the company 's control , magellan and santos agreed that the transaction would not be completed . the company had committed a $ 25 million towards the acquisition of the evans shoal field through two deposits and was returned a $ 10 million on july 22 , 2011 . 30 as a result , the company continued with a review of its assets and developed a rationalization plan . on september 14 , 2011 , magellan entered into an agreement with santos to swap its interest in the mereenie field for the purchase of the remaining interest in the producing palm valley gas field and exploration dingo field , all three fields located in the amadeus basin , onshore australia . upon completion of this transaction , which is subject to customary approvals and expected to close in the very near future , the company will receive the new asset interests described above , a cash contribution of a $ 25 million , and further subsequent bonus payments contingent upon future production , with a cumulative possible value of a $ 17.5 million . in addition , the company also entered into a long term gas supply agreement with santos for its palm valley gas field , which will provide incremental revenue and cash flows to support the company 's ongoing operations in australia . in parallel , the company focused on its under-developed , multiple formation , producing oil field in montana , the poplar field . building from the acquisition of 3d seismic in 2010 , and the acquisition of a set of cores and further data from a new well spud in 2010 , the company entered into a farm out agreement with vaalco energy for the bakken and deep formations of the poplar field . vaalco energy committed to drill three new wells in the poplar field by december 2012 and paid $ 5 million on september 6 , 2011 in consideration for a 65 % working interest in these deep intervals . the company will retain a 35 % working interest in the deep intervals and will continue to hold its current interest in all formations above the bakken formation , including the currently producing charles and tyler formations where all poplar proved and probable reserves are located . this transaction will enable the company to continue to focus on the development of the charles formation while also testing the bakken , red river and other potential deep formations in the poplar field . in the u.k. , magellan participated in the markwells wood-1 oil discovery . the well was spud , by northern petroleum in november 2010. a completion rig moved on site in september , 2011 to begin a series of incremental reservoir tests designed to measure oil flow response to several production strategies . the financial results for fiscal year ending june 30 , 2011 resulted in a consolidated loss of $ 32.4 million , or $ 0.62 per share . the net loss was largely the result of non-recurring charges of approximately $ 23.3 million , including $ 15.9 million relating to the evans shoal deposit and $ 7.0 million relating to the valuation allowance for deferred tax assets . in addition , the company incurred materially higher consulting costs and expenses related to the transactions pursued during the fiscal year ending june 30 , 2011. the financial results of the company were particularly negatively impacted by the $ 10.3 million reduction in consolidated revenues from fy 2010 to fy 2011 , which primarily resulted from the end of the gas sales contract at mereenie and the reduction in gas sales volume from palm valley . the reduction in revenues from the company 's australian operations underpinned the completion of the rationalization plan described above . the company has now completed a series of key transactions that will enable ( a ) increased control over its asset portfolio , ( b ) several new , concurrent development programs for the poplar field , and ( c ) provide incremental resources to fund existing development plans and new opportunities . overview of our fy 2011 financial results magellan realized a 87 % decrease in gas sales this fiscal year due to the term end of the mereenie sales agreement and the volume decrease at palm valley which is according to the palm valley contract , resulting in years ended june 30 , 2011 gas sales of $ 1.8 million ( net of royalties ) or 10 % of total revenues for the years ended june 30 , 2011 and was offset by a 12.1 % increase in the average exchange rate and a 1 % increase in the average price per mcf received under the palm valley contract . oil sales increased by 20 % this fiscal year due to oil sales related to the poplar field assets acquired in october 2009 and march 2010 and a 15 % increase in the price per barrel in the united states resulting in years ended june 30 , 2011 oil sales of $ 11.8 million ( net of royalties ) or 65 % of total revenues for the years ended june 30 , 2011 . story_separator_special_tag prior costs were capitalized during the fiscal year ended june 30 , 2006 and remained capitalized through the date of the sale as the related well had a sufficient quantity of reserves to justify its completion as a producing well . goodwill the aggregate amount of goodwill is $ 4,695,204 at june 30 , 2011 and 2010 , of which $ 4,020,706 is related to the fiscal 2006 acquisition of the 44.87 % of mpal that we did not own at the time and $ 674,500 is attributable to the october 15 , 2009 acquisition of nautilus . 36 goodwill is not amortized but is tested for impairment annually or whenever events or changes in circumstances indicate that the carrying value may be impaired . our annual impairment testing date for mpal related goodwill is june 30 and is october 1 for nautilus . goodwill is tested for impairment using a two-step process . step one  the fair value of each reporting unit is compared to its carrying value in order to identify potential impairment . if the fair value of a reporting unit exceeds the carrying value of its net assets , goodwill is not considered impaired and no further testing is required . if the carrying value of the net assets exceeds the fair value of a reporting unit , potential impairment is indicated and step two of the impairment test is performed in order to determine the implied fair value of the reporting unit 's goodwill and measure the potential impairment loss . step two  when potential impairment is indicated in step one , we compare the implied fair value of reporting unit goodwill with the carrying amount of that goodwill . determining the implied fair value of goodwill requires a valuation of the reporting unit 's tangible and intangible assets and liabilities in a manner similar to the allocation of the purchase price in a business combination . any excess of the value of a reporting unit over the amounts assigned to its assets and liabilities is referred to as the implied fair value of goodwill . if the carrying amount of reporting unit goodwill exceeds the implied fair value of that goodwill , an impairment loss is recognized in an amount equal to that excess . at june 30 , 2011 , magellan passed step one and therefore the company concluded step two was not necessary , as no impairment existed . determining the fair value of a reporting unit involves the use of significant estimates and assumptions . we employed the adjusted net assets method to estimate the fair value of mpal at june 30 , 2011. this method entails estimating the fair value of all of mpal 's balance sheet items as of the valuation date . the company has utilized the market approach , specifically the similar transaction method ( stm ) in order to estimate the fair value of mpal 's acreage and oil and natural gas reserves ( collectively , the mpal reserves ) on the balance sheet . the mpal reserves are reflected on the balance sheet as oil and gas properties . this line includes exploration phase petroleum properties ( i.e . exploratory acreage ) and production phase petroleum properties ( i.e . proved and probable oil and natural gas reserves ) . in its application of the stm , the company reviewed publicly available transaction data for the sale of comparable resources in the u.k. and australia in order to estimate the fair value of mpal reserves . if the adjusted equity value , after considering the fair values of the assets and liabilities , is greater than the carrying value of mpal , then no impairment is indicated . management believes that this methodology is most meaningful since the highest and best use of these assets would be to continue to hold and exploit the assets over time . no impairment existed as the adjusted fair value exceeded the carrying value by 25 % , as of june 30 , 2011. the fair value of our oil properties are estimated using a form of the market approach , which consists of a review of similar transactions that have occurred in the marketplace for proved and risk adjusted probable and possible reserves . accordingly , we have reviewed implied prices per thousand cubic feet equivalent associated with market-based transactions in similar geographic locations for each of our oil properties , and selected appropriate metrics based on a qualitative comparison between our oil properties and the relevant transactions . the fair value of our non-depletable exploration permits and licenses is estimated based on a review of similar transactions that have occurred in the marketplace . accordingly , we have reviewed implied prices per acre associated with market-based transactions in similar geographic locations for our non-depletable exploration permits and licenses , and selected appropriate metrics based on a qualitative comparison between our non-depletable exploration permits and the relevant transactions . at october 1 , 2010 , we performed our annual impairment test of the nautilus goodwill . we employed both the income approach ( discounted cash flow method ) and the market value approach in estimating the fair value of nautilus . as of october 1 , 2010 , no impairment existed as the indicated fair value of nautilus , based upon our estimate , exceeded its carrying value by 48 % as of october 1 , 2010 . 37 asset retirement obligations legal obligations associated with the retirement of long-lived assets are recognized at their fair value at the time that the obligations are incurred . upon initial recognition of a liability , the cost is capitalized as part of the related long-lived asset ( oil & gas properties ) and amortized on a units-of-production basis over the life of the related reserves . accretion expense in connection with the discounted liability is recognized over the remaining life of the related reserves . the estimated liability

