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## (e) Loans to Directors and Other Key Management Personnel 

There were no loans to Directors or other key management personnel during the financial year or previous financial year. 

## (f) Other Transactions with Directors and Other Key Management Personnel 

Refer to Note 29 for other transactions with Directors and other key management personnel during the financial year. 

## $^{ }$Note 29. Related Party Transactions 

Transactions between related parties are on normal commercial terms and conditions no more favourable than those available to other parties, unless otherwise stated. 

## (a) Parent Company 

The ultimate Parent Company within the Group is Karoon Gas Australia Ltd. 

## (b) Subsidiaries 

Interests in subsidiaries are set out in Note 21. 

During the financial year, the Group provided accounting, administrative and technical services to subsidiaries at cost. This allocation was based on costs recharged on a relevant time allocation of employees and consultants and associated office charges. 

Other transactions that occurred were advancement of intercompany loans at Nil% interest rate (2010: Nil%) and no fixed term for repayment as it was used for funding the intercompany operations and therefore will not be repaid within twelve months. Loans are unsecured and are repayable in cash. 

The above transactions are eliminated on consolidation. 

Parent Company guarantees provided to third parties guaranteeing a subsidiary’s performance under joint venture operating agreements are set out in Note 23. 

## (c) Directors and Other Key Management Personnel 

Disclosures relating to Directors and other key management personnel are set out in the Directors’ Report and Note 28. 

Apart from the details disclosed in this note, no Director or other key management personnel has entered into a material contract with the Group since the end of the previous financial year and there were no material contracts involving Directors’ or other key management personnel interests subsisting as at 30 June 2011 other than as stated in the Directors’ Report (Remuneration Report, Section C). 

