PBR » Topics » 3.7 Intangible

This excerpt taken from the PBR 6-K filed Mar 4, 2008.

3.7 Intangible

Spending on rights and concessions includes primarily the subscription bonuses relating to bid offers for oil or natural gas exploration concessions and are recorded at acquisition cost, adjusted, when applicable, to their recovery value, and amortized according to the units produced in relation to the total proven and developed reserves. Software, trademarks and patents are also included as intangibles.

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