OT30300 - Capital gains: valuation of oil assets including shares: introduction

The following pages provide some general guidance on the issue of valuing oil assets including shares.

Primary responsibility for the valuation of oil licences and related assets rests with LB Oil & Gas. The valuation of unquoted shares and securities in companies deriving their value from oil related assets is the responsibility of the Shares and Assets Valuation (SAV) team of Business, Assets and International.

The SAV team may request that LB Oil & Gas negotiate the value of the underlying assets as a preliminary to the valuation of the shares.