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SHARE CAPITAL AND SHARE OPTIONS (Tables)
 12 Months Ended
Dec. 31, 2013
SHARE CAPITAL AND SHARE OPTIONS [Abstract]  
Authorized and issue share capital
As at December 31, 2013 and 2012, our authorized and issued share capital is as follows:

Authorized share capital:

(in thousands of $, except per share data)
2013

 
2012

100,000,000 common shares of $1.00 each
100,000

 
100,000


Issued share capital:
(in thousands of $, except per share data)
2013

 
2012

80,579,295 outstanding issued common shares of $1.00 each (2012: 80,503,364)
80,580

 
80,504
Treasury shares held
The number of treasury shares held by us is as follows:
(Number of shares in thousands)
2013

 
2012

 
2011

At January 1
—

 
—

 
150

Disposed of during the year
—

 
—

 
(150
)
At December 31
—

 
—

 
—
Weighted average assumptions used
The weighted average assumptions used are noted in the table below:

 
2013

 
2012

 
2011

Risk free interest rate
2.0
%
 
2.0
%
 
1.8
%
Expected volatility of common stock
56.9
%
 
56.9
%
 
53.2
%
Expected dividend yield
0.0
%
 
0.0
%
 
0.0
%
Expected life of options (in years)
2.6 years

 
2.6 years

 
2.6 years
Summary of stock option activity
A summary of option activity (including Golar Energy options prior to cancellation in May 2011) as at December 31, 2013, 2012 and 2011, and changes during the years then ended are presented below:

(in thousands of $, except per share data)
Shares
(In '000s)

 
Weighted average exercise price

 
Weighted average remaining contractual term
(years)
Options outstanding at December 31, 2010
7,279

 
$
2.96

 
2.0
Exercised during the year
(1,604
)
 
$
7.46

 
 
Forfeited during the year
(285
)
 
$
5.43

 
 
Options exchanged
 
 
 
 
 
- Golar Energy options exchanged and cancelled
(5,438
)
 
$
1.95

 
 
- Golar LNG options issued
897

 
$
11.84

 
 
Options outstanding at December 31, 2011
849

 
$
10.11

 
1.2
Exercised during the year
(267
)
 
$
1.54

 
 
Forfeited during the year
(1
)
 
$
8.54

 
 
Options outstanding at December 31, 2012
581

 
$
7.86

 
0.8
Exercised during the year
(76
)
 
$
8.01

 
 
Forfeited during the year
(7
)
 
$
6.58

 
 
Options outstanding at December 31, 2013
498

 
$
6.36

 
0.3

Options exercisable at:
 
 
 
 
 
December 31, 2013
409

 
$
6.50

 
0.1
December 31, 2012
323

 
$
8.46

 
0.3
December 31, 2011
299

 
$
9.94

 
0.3