This result reflects the continued strength of Cue’s diversified portfolio, underpinned by stable production and improved pricing across key assets. Revenue from Cue’s onshore Australian assets increased by 11% to $12.5 million, supported by the start-up of two new Mereenie wells and higher contract gas prices. The Maari asset in New Zealand recorded a 23% increase in revenue to $12.4 million, due to four crude liftings during the year compared to three in the previous year. Revenue from the Mahato PSC increased by 19%, driven by a 30% increase in sales volumes and a high level of cost recovery associated with field operations and new development drilling. Annual production totalled 602 thousand barrels of oil equivalent (mboe), which was broadly consistent with the previous year. In Indonesia, production from the Mahato PSC increased by 9%, reflecting the contribution of new development wells drilled during the year. At Maari, production remained stable overall, although some wells, including MN1 and MR4, were offline during the year due to workovers and repairs. In Australia, production from the onshore fields was steady, with two new Mereenie wells contributing strongly and offsetting natural field decline and customer nomination variability. Production costs increased to $29 million, up from $20 million in FY2024. Approximately half of this was associated with increased operating cost at Mahato and Mereenie, reflecting the greater number of producing wells and associated field activities. The remainder includes production cost increases associated with timing of Maari inventory sales. Net cash generated from operations was $24 million, a strong result that reflects the quality of the Company’s production base and the benefit of portfolio diversification. The cash balance at the end of the year was $10.8 million with no debt. Following a Maari crude lifting receipt in early July, cash at 31 July 2025 increased to $12.6 million. Cue has demonstrated commitment to provide returns to shareholders, with a total of $14 million in dividends paid to shareholders during the year. The Cue Board has approved a final dividend for FY2025 of 0.5 cents per share, returning an additional $3.5 million to shareholders. The company continues to benefit from strong assetlevel performance and financial discipline. Its producing portfolio has delivered another year of solid revenue, cashflow, and shareholder returns, providing a strong foundation for continued growth and development in FY2026. Financial and operations review Cue navigated through a year of global uncertainties and market volatility to deliver another strong financial performance in FY2025, generating revenue of $54.8 million from oil and gas production across its assets in Australia, Indonesia, and New Zealand, a 10% increase compared to the previous year. 4 Cue Energy Resources Limited Annual Report 2025
RkJQdWJsaXNoZXIy MjE2NDg3