Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly).
If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them.
Company Profile
Global Oil & Gas Limited is an Australia-based oil and gas exploration company. The Company is focused on identifying, exploring and developing energy and resource assets within Australia and globally. The Company’s projects include Georgina Basin project, Sasanof Prospect and Other Projects. It holds a 100% interest in EP-127 located in the Southern Georgina Basin in the Northern Territory. The Basin covers more than 100,000 square kilometers (24.7 million acres) in the Northern Territory and western part of Queensland. EP-127 contains the Dulcie Syncline and the Hagen Member, which are considered to contain the potential for conventional oil targets, and a portion of the Toko Syncline, which is prospective for conventional and unconventional oil and gas. The Sasanof Prospect is located in permit WA-519-P, approximately 207 kilometers northwest of Onslow, Western Australia. The Sasanof Prospect covers an area of up to 400 square kilometers and is on trend and updip of Mentorc Field.
GLV - Global Oil & Gas Ltd
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