Cue Energy Resources Limited Notes to the financial statements 30 June 2023 Note 4. Financial reporting by segments (continued) 11 With the expansion and contribution of the Mahato operations to the Group's financial position and performance, management have concluded that the Group operates in four principal segments: Australia, being the Amadeus Basin assets, Maari in New Zealand and Sampang and Mahato in Indonesia. The Group has a distinct corporate function which has been presented separately in order to reconcile to the statutory results. The comparative financial information presented herein has been restated to reflect the change in the definition of the operating segments from prior periods, where segments were defined on a geographic basis. Australian onshore operations The company resides in Melbourne, Australia. The Consolidated Entity, through separate legal entities, Cue Mereenie Pty Ltd, Cue Palm Valley Pty Ltd and Cue Dingo Pty Ltd, holds 3 permits for onshore activities in Australia in the Amadeus Basin in the Northern Territory. For details of subsidiaries refer to note 20 and interests in joint operations refer to note 21. New Zealand The Group, through its wholly owned subsidiary, Cue Taranaki Pty Ltd, holds a 5% interest in petroleum production property, PMP38160 (Maari) in New Zealand. Indonesia The Group, through its wholly owned subsidiary, Cue Sampang Pty Ltd, holds a 15% interest in the Sampang PSC gas production property and through Cue Mahato Pty Ltd, a 12.5% interest in the Mahato PSC oil production property. Information regarding the Group’s reportable segments is presented below: Australia New Zealand Indonesia Corporate Total Maari Mahato Sampang Consolidated - 2023 $'000 $'000 $'000 $'000 $'000 $'000 Revenue Revenue from operations 11,889 9,510 18,714 11,492 - 51,605 Total revenue 11,889 9,510 18,714 11,492 - 51,605 EBITDAX 6,630 4,512 14,069 7,473 (1,819) 30,865 Depreciation and amortisation (2,127) (2,081) (1,118) (707) (66) (6,099) Share-based payments expense - - - (22) (74) (96) Business development expenses 21 - - - (34) (13) Finance costs (202) (144) (3) (601) (753) (1,703) Exploration and evaluation expenses (2,217) - (816) - (40) (3,073) Profit/(loss) before income tax expense 2,105 2,287 12,132 6,143 (2,786) 19,881 Income tax expense (4,670) Profit after income tax expense 15,211 57 Cue Energy Resources Limited Annual Report 2023
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