Cue Energy Resources Limited Directors’ report 30 June 2025 10 The directors present their report, together with the financial statements, on the consolidated entity (referred to hereafter as the 'Consolidated Entity') consisting of Cue Energy Resources Limited (referred to hereafter as the 'company' or 'parent entity') and the entities it controlled at the end of, or during, the year ended 30 June 2025. Directors The names of Directors of the Company in office during the year and up to the date of this report were: Alastair McGregor Andrew Jefferies Peter Hood AO Richard Malcolm Rod Ritchie Samuel Kellner Marco Argentieri Chief Executive Officer Matthew Boyall Company Secretary Anita Addorisio Principal activities The principal activities of the Group are oil and gas exploration, development and production. Corporate governance statement Details of the Company's corporate governance practices are included in the Corporate Governance Statement set out on the Company's website at: https://www.cuenrg.com.au/site/About-Us/corporate-directory. Dividends On 22 August 2025, the Company’s Board of Directors approved the declaration of a final dividend of $0.005 (0.5 cent) per fully paid ordinary share, totalling approximately $3.5 million. This final dividend has been declared as a Conduit Foreign Income (CFI), unfranked dividend and will be paid on 25 September 2025. On 25 February 2025, the Company’s Board of Directors approved the declaration of a final dividend of $0.01 (1 cent) per fully paid ordinary share, totalling approximately $7 million. This interim dividend was declared as a Conduit Foreign Income (CFI), unfranked dividend and was paid on 26 March 2025. Financial performance The Consolidated Entity reported a net profit after tax of $6.32 million for the year ended 30 June 2025 (FY 2025), compared to a net profit after tax of $14.19 million for the year ended 30 June 2024 (FY 2024). The lower profit was driven by higher production costs at Mahato and Mereenie, higher amortisation, timing of Maari inventory sales, and a higher income tax expense. Financial performance Production revenue FY 2025 Production revenue FY 2024 Gross margin FY 2025 Gross margin FY 2024 $'000 $'000 % % Mahato 23,554 19,721 53% 74% Onshore Australia 12,491 11,284 50% 47% Maari 12,403 10,123 35% 55% Sampang 6,393 8,531 36% 48% 54,841 49,659 Directors’ report 22 Cue Energy Resources Limited Annual Report 2025
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