Kupe Re-Contracting Opportunity

$'000s 50,000 37,500 25,000 12,500 50,000 37,500 25,000 12,500 Revenue Production Feeding the Bottom Line $9.8m attributable to newly acquired Amadeus Basin assets Net Operating Cash Inflow Forecast Forecast 20,000 15,000 10,000 5,000 Jun-18 Dec-18 Jun-19 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Jun 22 Net Investing Cash Outflow Successful Amadeus acquisition Unsuccessful Ironbark exploration 100,000 1 75,000 Forecast 50,000 25,000 Jun-18 Dec-18 Jun-19 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Jun 22 Cash Balances Amadeus Basin assets acquired $34m Forecast Jun-18 Dec-18 Jun-19 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Jun 22 Jun-18 Dec-18 Jun-19 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Jun 22 The Amadeus Basin assets contributed revenues of $9.8 million from acquisition on 1 October 2021 to 31 December 2021. If the Amadeus Basin assets were included for the full six months, the Group pro forma revenues would have been $41.2 million and net profit before tax would have been $3.1 million higher. The effective date of the transaction was 1 July 2020. Revenue earned between the effective date and completion date was recognised as a change to the purchase price adjustment. See the company's financial statements for the half year ended 31 December 2021 here. 11

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