Notes to the Consolidated Financial Statements Continued Note 32. Parent Company Financial Information (a) Summary Financial Information The individual financial statements for the Parent Company show the following aggregate amounts: Company Restated 2021 2020 US$’000 US$’000 Statement of financial position Current assets 63,387 281,225 Non‑current assets 253,939 32,361 Total assets 317,326 313,586 Current liabilities 3,234 3,997 Non‑current liabilities 3,111 12,743 Total liabilities 6,345 16,740 Net assets 310,981 296,846 Contributed equity 905,138 905,281 Accumulated losses (574,852) (557,870) Share‑based payments reserve 50,190 47,156 Foreign currency translation reserve (69,495) (97,721) Total equity 310,981 296,846 Loss for financial year (16,982) (123,051) Total comprehensive loss for financial year 11,244 (128,452) (b)Contingent Liabilities of Parent Company (i)Bank guarantees were provided in respect of operating lease rental agreements. These guarantees may give rise to liabilities in the Parent Company if obligations are not met under these guarantees. The bank guarantees given to lessors are fully funded by way of payment of security deposits (refer Note 13). 169 158 (ii)During the period, the Performance Guarantee (via a letter of credit) as at 30 June 2020, provided to Perupetro SA for Block Z‑38 for Karoon’s share of third period work commitments, was released with the respective commitments being satisfied. – 3,700 (iii)The Company’s present intention is to provide the necessary financial support for all Australian incorporated subsidiaries, whilst they remain wholly owned subsidiaries, as is necessary for each company to pay all debts as and when they become due. (c) Guarantees Entered into by Parent Company A Parent Company guarantee was provided to Petrobras for payment of all amounts that may become payable under the SPA (Note 27(a)). A Parent Company guarantee totalling Brazilian REALS 117.7 million (US$20.9 million equivalent as at 30 June 2021) was provided to the ANP in respect of existing decommissioning obligations relating to the Baúna field. In addition, the Parent has provided deeds of guarantee to, respectively, OOG‑TKP FPSO GMBH & CO KG (the FPSO operator) and OOG‑TKP Produção de Petróleo Ltda (the FPSO service provider) in relation to satisfying Karoon Petróleo & Gás Ltda’s payment obligations in respect of the charter of an FPSO for Baúna and the provision of related services. Karoon Energy Ltd 124 Annual Report 2021