Cue Energy Resources Limited Notes to the financial statements 30 June 2023 Note 16. Key management personnel disclosures and related party disclosures (continued) 27 The Consolidated Entity enters into operating arrangements where the Group has joint control over the respective venture’s oil and gas net assets, described in note 22. In each of the joint operations, the participants appoint an operator to act on their behalf in managing operations (the Operator). All financial relationships with the Operator are on an arm’s length basis. During the financial year, NZOG provided technical and legal services to the Group under consulting agreements. The arrangements are on normal commercial terms. As at 30 June 2023, $0.16 million was accrued for services rendered from the immediate parent company and directors (30 June 2022: $0.16 million). During the year ended 30 June 2022, NZOG granted a $7.0 million unsecured loan to the consolidated entity, the carrying amount of which is $3.95 million at 30 June 2023 (30 June 2022: $6.90 million) and in respect of which $0.70 million in finance costs have been incurred (30 June 2022: $0.01 million), the details of which are in note 15. Note 17. Auditor remuneration During the financial year the following fees were paid or payable for services provided by the auditor of the company: Consolidated Consolidated 2023 2022 $ $ Audit services - KPMG Audit or review of the financial statements 273,810 167,360 Other assurance services 8,000 8,280 281,810 175,640 Other services - KPMG Advisory services 65,270 72,036 Tax compliance 21,377 28,142 86,647 100,178 368,457 275,818 No other services were provided by the auditor during the year, other than those set out above. Note 18. Contingencies and commitments Contingent assets and liabilities The Directors are not aware of any contingent assets or contingent liabilities as at 30 June 2023 (30 June 2022: Nil). Expenditure commitments Consolidated 2023 2022 $'000 $'000 Exploration and evaluation, development and production expenditure commitments* The Consolidated Entity participates in a number of licences, permits and production sharing contracts for which it has made commitments, including but not limited to with relevant governments, to complete minimum work programmes. Within one year 5,169 15,728 One to five years - 878 5,169 16,606 73 Cue Energy Resources Limited Annual Report 2023
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