SET Announcements

F 24-1 Form to Report on Names of Members and Scope of Work of the Audit Committee The Board of Directors meeting of The Bangchak Petroleum Public Company Limited No 5/2010 on 27 May 2010 resolved the meeting's resolutions in the following manners: / Appointment of the audit committee: o Chairman of the audit committee / Member of the audit committee As follows (1) Mr. Issra Shoatburakarn The renewal of which shall take an effect as of 27 May 2010 o Change in the scope of duties and responsibilities of the audit committee with the following details,the change of which shall take an effect as of ........................ The audit committee is consist of: 1. Chairman of the audit committee Mr. Anusorn Tamajai remaining term in office 1 year and 1 month 2. Member of the audit committee Mr. Wirat Iam-Ua-Yut remaining term in office 1 year and 1 month 3. Member of the audit committee Ms. Pranom Kowinwipat remaining term in office 1 year and 1 month 4. Member of the audit committee Mr. Issra Shoatburakarn remaining term in office 1 year and 1 month Secretary of the audit committee Vice president of the internal control office Enclosed hereto is 1 copies of the certificate and biography of the audit committee. The audit committee number(s) 1, 3 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. Review the Company's financial reporting process as required by law to ensure accuracy and adequacy. 2. Ensure the suitability and effectiveness of the Company's internal controls and internal audit as well as risk management procedures. 3. Ensure the Company's compliance with SEC laws, SET regulations or relevant laws. 4. Consider connected transactions or potential conflicts of interest in view of compliance with SET laws and regulations. 5. Jointly review and consider with the management on identified important faults and the response from the management. 6. Have the authority to check and investigate those involved under the scopes and duties of the Audit Committee and have the authority to procure or bring in specialists to help in the check and investigation processes, in compliance with the Company's regulations. 7. Prepare a report on its own performance for disclosure in the Company's annual report,signed by the Chairman. 8. Select, nominate and recommend the fees for the external auditor and attend at least one meeting a year with the external auditor in the absence of the management. 9. Ensure that the external auditor's and the internal audit office's auditing scope and plan are mutually supportive to reduce redundancy in financial audits. 10. Give consent to the internal audit office's charter, audit work plans, budget, training plans and manpower of the Internal Control Office. 11. Appoint, transfer, rotate and evaluate the annual performance of the director of the internal audit office, as well as the independence of the internal audit office. 12. Review efficiency and effectiveness of the information technology system concerning internal controls and risk management. 13. In performing their work, if the Audit Committee found or doubted a transaction or action that might significantly affect the Company's financial status and business performance as follows: (1) Transactions with potential conflicts of interest. (2) Corruption or abnormalities of significant faults in the internal control system. (3) Violation of securities and exchange laws, regulations or relevant laws. The Audit Committee must report to the Board of Directors for solutions within the timeframe that the Audit Committee deems appropriate. If the Board of Directors or the Executives did not undertake to solve the problems within a suitable time, any Audit Committee member may report the findings to the SEC or SET. 14. Perform other tasks assigned by the Board with the Committee's approval. The company hereby certifies that 1. The qualifications of the aforementioned members meet all the requirements of the Stock Exchange of Thailand ; and 2. The scope of duties and responsibilities of the audit committee as stated above meet all the requirements of the Stock Exchange of Thailand. -signed- Chairman (Mr. Krairit Nilkuha) -signed- President (Mr. Anusorn Sangnimnuan)