Cue Energy Resources Limited Notes to the financial statements 30 June 2026 38 Note 4. Financial reporting by segments Segment Information AASB 8 requires operating segments to be identified on the basis of internal reports about components of the Consolidated Entity that are regularly reviewed and used by the Board of Directors (who are identified as the Chief Operating Decision Makers (“CODM”)) in assessing performance and in determining the allocation of resources. The CODM assesses the performance of the operating segments based upon EBITDAX, adjusted to exclude business development costs, exploration and evaluation expenses, share based payments and one-off expenses, which allows peer comparison when assessing performance. The accounting policies adopted for internal reporting to the CODM are consistent with those adopted in the Consolidated Entity's financial statements. The Consolidated Entity operates in four principal segments: Onshore Australia, Maari in New Zealand and Sampang and Mahato in Indonesia. The Consolidated Entity has a distinct corporate function which has been presented separately in order to reconcile to the statutory results. Australia The Consolidated Entity, through wholly owned subsidiaries, Cue Mereenie Pty Ltd, Cue Palm Valley Pty Ltd and Cue Dingo Pty Ltd, holds 3 permits for Onshore Australia activities in the Amadeus Basin in the Northern Territory. For details of interests in joint operations refer to note 21. New Zealand The Consolidated Entity, through its wholly owned subsidiary, Cue Taranaki Pty Ltd, holds a 5% interest in petroleum production property, PMP38160 (Maari) in New Zealand. Indonesia The Consolidated Entity, 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, holds an 11.25% interest in the Mahato PSC oil production property. Information regarding the Consolidated Entity’s reportable segments is presented below: Australia New Zealand Indonesia Indonesia Corporate Total Onshore Maari Mahato Sampang Consolidated - 30 June 2026 $'000 $'000 $'000 $'000 $'000 $'000 Revenue Revenue from operations 13,157 9,274 23,822 3,992 - 50,245 Total revenue 13,157 9,274 23,822 3,992 - 50,245 EBITDAX 8,992 5,948 16,964 (190) (3,259) 28,455 Depreciation and amortisation (2,177) (2,163) (5,042) (312) (57) (9,751) Share-based payments expense - - - (77) (292) (369) Business development expenses - - - - (26) (26) Finance costs (256) (324) (19) 213 (3) (389) Impairment - (3,421) - (984) - (4,405) Exploration, evaluation and development expenses (82) - - (4,188) (17) (4,287) Takeover defence costs (9) (1,926) (1,935) Profit/(loss) before income tax expense 6,477 40 11,894 (5,538) (5,580) 7,293 Income tax expense (2,933) Profit after income tax expense 4,360 51 Cue Energy Resources Limited Annual Report 2026
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