Community Responsibility
Stuart recognizes that a number of diverse groups have ongoing interests in the company and it takes an active role in informing them of corporate and community activities and in working together to address the needs of all parties. During the year, Stuart paid over $4 million in royalties to the SA State Government and over $400,000 of Native Title royalties to traditional land owners from its Cooper/Eromanga Basin production. Stuart has also contributed to a number of charities and other community support groups. The Company continues to acknowledge the support of its stakeholders and thanks them for their ongoing contributions throughout the year.
Statement of Commitment to Indigenous Australians
Stuart Petroleum Ltd has made the following statement as its commitment to and respect for its Indigenous community. The following statement was endorsed by the Board of Stuart Petroleum on 20th of February 2008.
Stuart Petroleum:
Understands that land is of spiritual, social, cultural and economic importance to Aboriginal people.
Supports the recognition by Australian law of native title rights held in relation to land by Aboriginal or Torres Strait Islander people.
Acknowledges the right of Aboriginal people within Australia to lodge native title claims or to seek agreements concerning their native title rights.
Supports the use of Indigenous Land Use Agreements (ILUA’s) to provide a flexible and cooperative means of resolving native title issues to achieve fair and equitable outcomes for all parties.