SET Announcements

F 24-1 Additional Notification scope of procedure of Audit Committee The Board of Directors of the Bangchak Petroleum Public Company Limited approved the additional scope of functions and responsibilities of Audit Committee at its Meeting No. 8/2008 held on July 25, 2008. The previous scope of function and responsibilities of the Audit Committee are as follows: 1) To ensure accuracy and adequacy of the Company's financial reporting according to the Accounting Principles governed by laws. 2) To ensure that the Company has suitable and efficient internal control system and internal audit and to assure the efficiency and adequacy of the risk management system. 3) To review the performance of the Company to ensure compliance with the securities and exchange law, regulations of the Exchange or laws relating to business of the Company. 4) To review the disclosure of information of the Company in case that there is a connected transaction or transaction that may lead to conflict of interest so as to ensure accurateness and completeness. 5) To inspect and consider with the management on the defects that have been found out and on the responses from the management. 6) To empower the auditing and investigating all related party under the authorization of the Audit Committee and also to authorize in hiring an expert so as to audit and investigate in compliance with the Company's regulations. 7) To prepare a report on monitoring activities of the Audit Committee and disclose it in an annual report of the Company, and have such report signed by Chairman of the Audit Committee. 8) To consider, select, nominate and recommend remuneration of the company's external auditor. 9) To consider auditing scopes and plans of the external auditor and the internal audit department so that they are contributory to each other and to reduce double operations as concerns financial auditing. 10) To approve Charter, work plans, budget and manpower of the Internal Control Office 11) To appoint, transfer, and undertake annual evaluation of the Vice President of Internal Control Office. 12) To review the efficiency and effectiveness of internal control and risk management focusing on the issue of information technology. 13) At least once a year, attend the private meeting with an auditor only. 14) To perform any other act assigned by the Board of Directors with approval of the Audit Committee. The new scope of function and responsibilities of the Audit Committee will be as follows: 1) To ensure accuracy and adequacy of the Company's financial reporting according to the Accounting Principles governed by laws. 2) To ensure that the Company has suitable and efficient internal control system and internal audit and to assure the efficiency and adequacy of the risk management system. 3) To review the performance of the Company to ensure compliance with the securities and exchange law, regulations of the Exchange or laws relating to business of the Company. 4) To review a connected transaction or transaction that may lead to conflict of interest to ensure compliance with the laws and regulations of the Exchange. 5) To inspect and consider with the management on the defects that have been found out and on the responses from the management. 6) To empower the auditing and investigating all related party under the authorization of the Audit Committee and also to authorize in hiring an expert so as to audit and investigate in compliance with the Company's regulations. 7) To prepare a report on monitoring activities of the Audit Committee and disclose it in an annual report of the Company, and have such report signed by Chairman of the Audit Committee. 8) To consider, select, nominate the person who is independent to be the Company's auditor, recommend remuneration of the Company's auditor and, at least once a year, attend the private meeting with an auditor without management. 9) To consider auditing scopes and plans of the external auditor and the internal audit department so that they are contributory to each other and to reduce double operations as concerns financial auditing. 10) To approve Charter, work plans, budget and manpower of the Internal Control Office 11) To appoint, transfer, and undertake annual evaluation of the Vice President of Internal Control Office and review the independence of Internal Control Office. 12) To review the efficiency and effectiveness of internal control and risk management focusing on the issue of information technology. 13) In performing the duty of the Audit Committee, if there is transaction or act which could extremely affect the Company's financial status and the Company's performance, namely (1) transaction which lead to conflict of interest (2) dishonest, extremely unusual or remiss Internal Control system (3) breaking the securities and exchange law, regulations of the Exchange or laws relating to business of the Company, the Audit Committee have to report the Company's Board of Directors so as to modify and revise within prescribed time. If the Audit Committee or executives do not modify and revise within prescribed time, the Audit Committee are able to report this transaction or act to the Securities and Exchange Commission or the Stock Exchange of Thailand. 14) To perform any other act assigned by the Board of Directors with approval of the Audit Committee. Starting from July 26, 2008. Please be informed accordingly. General -signed- Chairman (Tawat Ked-Unkoon) -signed- President (Anusorn Sangnimnuan)