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Clam Ltd is an energy company.It has built an oil rig off the coast of Australia in the Southern Ocean known as the Great Australian

Clam Ltd is an energy company.It has built an oil rig off the coast of Australia in the Southern Ocean known as the Great Australian Bight, and it is currently drilling for oil. The latest advice received by Clam Ltd, is that the drilling has only a 5% chance of finding oil. Briefly explain how the oil rig should be treated for Clam Ltd using the definition criteria under the Conceptual Framework.

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