Q 51 Electron BPP Pilot paper

1. I think we have bought a 'right to buy oil' as opposed to 'oil' - I would think of it as a licence - so intangible. 2.Financial instruments = settled in cash - this is not settled in cash.......it's settled in oil. 3. Electron is lessor not lessee - so it's an operating lease Also, because leases have changed significantly in the 14 years since this question was written, I wouldn't bother with the leasing part too much