SET Announcements

F 24-1 Form to Report on Names of Members and Scope of Work of the Audit Committee The Board of Directors meting of The Bangchak Petroleum Public Company Limited No 3/2010 on 26 March 2010 resolved the meeting's resolutions in the following manners: o Renewal for the term of audit committee: o Chairman of the audit committee o Member of the audit committee As follows (1)............................ (2)............................ (3)............................ (4)............................ The renewal of which shall take an effect as of....... / Change in the scope of duties and responsibilities of the audit committee with the following details 10. To approve Charter, audit work plans, budget, training plan and manpower of the Internal Control Office , the change of which shall take an effect as of 26 March 2010 The audit committee is consist of: 1. Chairman of the audit committee Mr. Anusorn Tamajai remaining term in office 1 year and 3 months 2. Member of the audit committee Mr. Wirat Iam-Ua-Yut remaining term in office 1 year and 3 months 3. Member of the audit committee Mr. Nipon Surapongrukcharoen remaining term in office 1 year and 3 months 4. Member of the audit committee Ms. Pranom Kowinwipat remaining term in office 1 year and 3 months Secretary of the audit committee Vice president of the internal control office Enclosed hereto is - copies of the certificate and biography of the audit committee. The audit committee number(s) - has adequate expertise and experience to review creditability of the financial reports. The audit committee of the company has the scope of duties and responsibilities to the Board of Directors on the following matters: 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, audit work plans, budget, training plan 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 Stock 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. The company hereby certifies that 1. The qualifications of the aforementioned members meet all the requirements of the Stock Exchage of Thailand ; and 2. The scope of duties and responsibilities of the audit committee as stated above meet all the requirements of the Stock Exchage of Thailand. General -signed- Chairman (Tawat Ked-Unkoon) -signed- President (Anusorn Sangnimnuan)