RH PetroGas T13

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Financials

Annual Report 2025

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29 tables

Group income — FY2025 source

15 metrics

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Group income — FY2025 source from Annual Report 2025
Metric / unit 2025Group2024Group Source
Group income — FY2025 source
RevenueUS dollars thousands 77,56692,520 PDF p. 55
Cost of salesUS dollars thousands (53,281)(56,592) PDF p. 55
Gross profitUS dollars thousands 24,28535,928 PDF p. 55
Other incomeUS dollars thousands 3,7173,182 PDF p. 55
Administrative expensesUS dollars thousands (3,976)(4,547) PDF p. 55
Other expensesUS dollars thousands (13,272)(2,131) PDF p. 55
Finance costsUS dollars thousands (738)(733) PDF p. 55
Profit before taxUS dollars thousands 10,01631,699 PDF p. 55
Income tax expenseUS dollars thousands (6,482)(13,421) PDF p. 55
Profit for the financial yearUS dollars thousands 3,53418,278 PDF p. 55
Attributable to:
Owners of the CompanyUS dollars thousands 2,53814,562 PDF p. 55
Group income — FY2025 source
Non-controlling interestsUS dollars thousands 9963,716 PDF p. 55
SubtotalUS dollars thousands 3,53418,278 PDF p. 55
Earnings per share (cents per share)
BasicUS cents per share 0.301.74 PDF p. 55
DilutedUS cents per share 0.301.74 PDF p. 55
Definitions & sources

Group comprehensive income — FY2025 source

7 metrics

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Group comprehensive income — FY2025 source from Annual Report 2025
Metric / unit 2025Group2024Group Source
Group comprehensive income — FY2025 source
Profit for the financial yearUS dollars thousands 3,53418,278 PDF p. 56
Item that will not be reclassifi ed subsequently to profi t or loss:
Remeasurement of defined benefit planUS dollars thousands 95(109) PDF p. 56
Other comprehensive income for the financial year, net of taxUS dollars thousands 95(109) PDF p. 56
Total comprehensive income for the financial year, net of taxUS dollars thousands 3,62918,169 PDF p. 56
Attributable to:
Owners of the CompanyUS dollars thousands 2,61614,472 PDF p. 56
Item that will not be reclassifi ed subsequently to profi t or loss:
Non-controlling interestsUS dollars thousands 1,0133,697 PDF p. 56
SubtotalUS dollars thousands 3,62918,169 PDF p. 56
Definitions & sources

Group and Company financial position — FY2025 source

32 metrics

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Group and Company financial position — FY2025 source from Annual Report 2025
Metric / unit 2025Group2024Group2025Company2024Company Source
Non-current assets
Oil and gas propertiesUS dollars thousands 9,81311,062–– PDF p. 57
Other plant and equipmentUS dollars thousands 1703817038 PDF p. 57
Deferred tax assetsUS dollars thousands 8091,157–– PDF p. 57
Right-of-use assetsUS dollars thousands 4,4488,714489808 PDF p. 57
Exploration and evaluation assetsUS dollars thousands 1,2717,716–– PDF p. 57
Cash and bank balancesUS dollars thousands 4,1533,493–– PDF p. 57
Other non-current assetsUS dollars thousands 2,4092,204–– PDF p. 57
Investment in subsidiariesUS dollars thousands ––103,674104,199 PDF p. 57
SubtotalUS dollars thousands 23,07334,384104,333105,045 PDF p. 57
Current assets
InventoriesUS dollars thousands 11,78710,107–– PDF p. 57
Other current assetsUS dollars thousands 36323632 PDF p. 57
Trade and other receivablesUS dollars thousands 11,94710,580268479 PDF p. 57
Amounts due from subsidiariesUS dollars thousands ––16,19817,174 PDF p. 57
Cash and bank balancesUS dollars thousands 61,28452,3165,5231,780 PDF p. 57
SubtotalUS dollars thousands 85,05473,03522,02519,465 PDF p. 57
Total assetsUS dollars thousands 108,127107,419126,358124,510 PDF p. 57
Current liabilities
Income tax payableUS dollars thousands 2,2313,528–– PDF p. 57
Lease liabilitiesUS dollars thousands 3,9556,365243282 PDF p. 57
Trade and other payablesUS dollars thousands 29,01624,3461,2761,836 PDF p. 57
SubtotalUS dollars thousands 35,20234,2391,5192,118 PDF p. 57
Non-current liabilities
ProvisionsUS dollars thousands 3,2873,4633735 PDF p. 57
Lease liabilitiesUS dollars thousands 1,5874,132299512 PDF p. 57
Amounts due to subsidiariesUS dollars thousands ––2,2992,507 PDF p. 57
Other payableUS dollars thousands 232––– PDF p. 57
SubtotalUS dollars thousands 5,1067,5952,6353,054 PDF p. 57
Total liabilitiesUS dollars thousands 40,30841,8344,1545,172 PDF p. 57
Equity attributable to owners of the Company
Share capitalUS dollars thousands 270,283270,138270,283270,138 PDF p. 57
Company
ReservesUS dollars thousands (211,059)(213,635)(148,079)(150,800) PDF p. 57
SubtotalUS dollars thousands 59,22456,503122,204119,338 PDF p. 57
Non-controlling interestsUS dollars thousands 8,5959,082–– PDF p. 57
Total equityUS dollars thousands 67,81965,585122,204119,338 PDF p. 57
Total liabilities and equityUS dollars thousands 108,127107,419126,358124,510 PDF p. 57
Definitions & sources

Group changes in equity — FY2025 source / ending 2024

8 metrics

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Group changes in equity — FY2025 source / ending 2024 from Annual Report 2025
Metric / unit 2024Group / Share capital2024Group / Capital reduction reserve2024Group / Foreign currency translation reserve2024Group / Reserve for defined benefit plan2024Group / Accumulated losses2024Group / Equity reserve2024Group / Employee share option reserve2024Group / Total reserves2024Group / Non-controlling interests2024Group / Total equity Source
Group changes in equity — FY2025 source / complete two-year source panel
At 1 January 2024US dollars thousands 270,1382,886(90)(178)(233,101)1,764485(228,234)6,88548,789 PDF p. 58
Profit for the financial yearUS dollars thousands ––––14,562––14,5623,71618,278 PDF p. 58 Label p. 58
Other comprehensive income for the financial yearUS dollars thousands –––(90)–––(90)(19)(109) PDF p. 58 Label p. 58
Total comprehensive
Total comprehensive income for the financial yearUS dollars thousands –––(90)14,562––14,4723,69718,169 PDF p. 58 Label p. 58
Dividend paid by subsidiary to non-controlling interestUS dollars thousands ––––––––(1,500)(1,500) PDF p. 58 Label p. 58
distributions to owners
Share-based payments (Note 25) - Grant of equity-settled share optionsUS dollars thousands ––––––183183–183 PDF p. 58 Label p. 58
Contributions by and
- Forfeiture of equity-settled share optionsUS dollars thousands ––––––(56)(56)–(56) PDF p. 58 Label p. 58
At 31 December 2024 and 1 January 2025US dollars thousands 270,1382,886(90)(268)(218,539)1,764612(213,635)9,08265,585 PDF p. 58 Label p. 58
Definitions & sources

The original prints both years within one physical table. The shared closing/opening row is preserved separately as the previous year close and the next year opening, with the full original joint-date caption.

Group changes in equity — FY2025 source / ending 2025

8 metrics

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Group changes in equity — FY2025 source / ending 2025 from Annual Report 2025
Metric / unit 2025Group / Share capital2025Group / Capital reduction reserve2025Group / Foreign currency translation reserve2025Group / Reserve for defined benefit plan2025Group / Accumulated losses2025Group / Equity reserve2025Group / Employee share option reserve2025Group / Total reserves2025Group / Non-controlling interests2025Group / Total equity Source
Contributions by and
At 31 December 2024 and 1 January 2025US dollars thousands 270,1382,886(90)(268)(218,539)1,764612(213,635)9,08265,585 PDF p. 58 Label p. 58
Profit for the financial yearUS dollars thousands ––––2,538––2,5389963,534 PDF p. 58 Label p. 58
Other comprehensive income for the financial yearUS dollars thousands –––78–––781795 PDF p. 58 Label p. 58
Total comprehensive
Total comprehensive income for the financial yearUS dollars thousands –––782,538––2,6161,0133,629 PDF p. 58 Label p. 58
Dividend payable by subsidiary to non-controlling interestUS dollars thousands ––––––––(1,500)(1,500) PDF p. 58 Label p. 58
distributions to owners
Share-based payments (Note 25) - Exercise of employee share optionsUS dollars thousands 145–––––(59)(59)–86 PDF p. 58 Label p. 58
Contributions by and
- Grant of equity-settled share optionsUS dollars thousands ––––––1919–19 PDF p. 58 Label p. 58
At 31 December 2025US dollars thousands 270,2832,886(90)(190)(216,001)1,764572(211,059)8,59567,819 PDF p. 58
Definitions & sources

The original prints both years within one physical table. The shared closing/opening row is preserved separately as the previous year close and the next year opening, with the full original joint-date caption.

Company changes in equity — FY2025 source / ending 2024

5 metrics

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Company changes in equity — FY2025 source / ending 2024 from Annual Report 2025
Metric / unit 2024Company / Share capital2024Company / Capital reduction reserve2024Company / Accumulated losses2024Company / Employee share option reserve2024Company / Total reserves2024Company / Total equity Source
Company changes in equity — FY2025 source / complete two-year source panel
At 1 January 2024US dollars thousands 270,1382,886(156,274)485(152,903)117,235 PDF p. 59
Profit for the financial year, representing total comprehensive income for the financial yearUS dollars thousands ––1,976–1,9761,976 PDF p. 59 Label p. 59
distributions to owners
Share-based payments - Grant of equity-settled share optionsUS dollars thousands –––183183183 PDF p. 59 Label p. 59
Contributions by and distributions to owners
- Forfeiture of equity-settled share optionsUS dollars thousands –––(56)(56)(56) PDF p. 59 Label p. 59
At 31 December 2024 and 1 January 2025US dollars thousands 270,1382,886(154,298)612(150,800)119,338 PDF p. 59 Label p. 59
Definitions & sources

The original prints both years within one physical table. The shared closing/opening row is preserved separately as the previous year close and the next year opening, with the full original joint-date caption.

Company changes in equity — FY2025 source / ending 2025

5 metrics

Units appear below each metric. Scroll to compare years

Company changes in equity — FY2025 source / ending 2025 from Annual Report 2025
Metric / unit 2025Company / Share capital2025Company / Capital reduction reserve2025Company / Accumulated losses2025Company / Employee share option reserve2025Company / Total reserves2025Company / Total equity Source
Contributions by and distributions to owners
At 31 December 2024 and 1 January 2025US dollars thousands 270,1382,886(154,298)612(150,800)119,338 PDF p. 59 Label p. 59
Profit for the financial year, representing total comprehensive income for the financial yearUS dollars thousands ––2,761–2,7612,761 PDF p. 59 Label p. 59
distributions to owners
Share-based payments - Exercise of employee share optionsUS dollars thousands 145––(59)(59)86 PDF p. 59 Label p. 59
Contributions by and distributions to owners
- Grant of equity-settled share optionsUS dollars thousands –––191919 PDF p. 59 Label p. 59
At 31 December 2025US dollars thousands 270,2832,886(151,537)572(148,079)122,204 PDF p. 59
Definitions & sources

The original prints both years within one physical table. The shared closing/opening row is preserved separately as the previous year close and the next year opening, with the full original joint-date caption.

Group cash flows — FY2025 source

44 metrics

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Group cash flows — FY2025 source from Annual Report 2025
Metric / unit 2025Group2024Group Source
Operating activities
Profit before taxUS dollars thousands 10,01631,699 PDF p. 60
Adjustments for:
- Amortisation of signature bonus and upfront feesUS dollars thousands 148137 PDF p. 60
- Adjustment to decommissioning costsUS dollars thousands –(915) PDF p. 60
- Defined pension plan expensesUS dollars thousands 893991 PDF p. 60
- Depletion and amortisation of oil and gas propertiesUS dollars thousands 2,267437 PDF p. 60
- Depreciation of other plant and equipmentUS dollars thousands 7961 PDF p. 60
- Depreciation of right-of-use assetsUS dollars thousands 4,9804,529 PDF p. 60
- Interest expense on lease liabilitiesUS dollars thousands 540592 PDF p. 60
- Interest income from bank depositsUS dollars thousands (2,019)(1,122) PDF p. 60
- Interest income on cash callUS dollars thousands (415)(301) PDF p. 60
- Interest expenses on decommissioning costsUS dollars thousands 415301 PDF p. 60
- Loss on disposal of other plant and equipmentUS dollars thousands 1– PDF p. 60
- Net loss/(gain) on early lease terminationUS dollars thousands 11(195) PDF p. 60
- Other plant and equipment written offUS dollars thousands 24– PDF p. 60
- Share-based paymentsUS dollars thousands 19127 PDF p. 60
- Unsuccessful/(reversal of unsuccessful) exploration and evaluation expendituresUS dollars thousands 12,255(137) PDF p. 60 Label p. 60
- Expected credit loss for trade and other receivablesUS dollars thousands 431 PDF p. 60
- Unwinding of discount on decommissioning provisionsUS dollars thousands 198141 PDF p. 60
- Unrealised foreign exchange gainUS dollars thousands (68)(13) PDF p. 60
- Write off of oil and gas propertiesUS dollars thousands 435– PDF p. 60
Operating cash flows before changes in working capitalUS dollars thousands 29,78336,363 PDF p. 60
Changes in working capital
(Increase)/decrease in inventoriesUS dollars thousands (1,680)1,652 PDF p. 60
(Increase)/decrease in trade and other receivablesUS dollars thousands (1,372)5,390 PDF p. 60
Decrease in trade and other payablesUS dollars thousands (77)(380) PDF p. 60
Decrease in defined benefit plan liabilitiesUS dollars thousands (317)(677) PDF p. 60
Cash flows from operationsUS dollars thousands 26,33742,348 PDF p. 60
Income tax paidUS dollars thousands (7,430)(9,970) PDF p. 60
Interest receivedUS dollars thousands 2,4341,423 PDF p. 60
Net cash flows from operating activitiesUS dollars thousands 21,34133,801 PDF p. 60
Investing activities
Additions to exploration and evaluation assetsUS dollars thousands (2,492)(24,074) PDF p. 60
Additions to oil and gas propertiesUS dollars thousands (1,501)(682) PDF p. 60
Cash call contributions for decommissioning provisionsUS dollars thousands (1,024)(301) PDF p. 60
Increase in deposits pledgedUS dollars thousands (661)(300) PDF p. 60
Withdrawal/(placement) in short-term deposits with maturity more than 3 monthsUS dollars thousands 1,600(31,610) PDF p. 60 Label p. 60
Payment for signature bonus and related costsUS dollars thousands (353)(64) PDF p. 60
Purchase of other plant and equipmentUS dollars thousands (236)(11) PDF p. 60
Net cash flows used in investing activitiesUS dollars thousands (4,667)(57,042) PDF p. 60
Financing activities
Dividend paid by subsidiary to non-controlling interestUS dollars thousands –(1,500) PDF p. 60
Payment of lease liabilitiesUS dollars thousands (6,191)(5,995) PDF p. 60
Proceeds from exercise of employee share optionsUS dollars thousands 86– PDF p. 60
Net cash flows used in financing activitiesUS dollars thousands (6,105)(7,495) PDF p. 60
Net increase/(decrease) in cash and cash equivalentsUS dollars thousands 10,569(30,736) PDF p. 60
Cash and cash equivalents at beginning of the financial yearUS dollars thousands 20,70651,442 PDF p. 60
Cash and cash equivalents at end of the financial yearUS dollars thousands 31,27520,706 PDF p. 60
Definitions & sources

Basic and diluted EPS inputs

4 metrics

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Basic and diluted EPS inputs from Annual Report 2025
Metric / unit 2025Group2024Group Source
Basic and diluted EPS inputs
Profit, net of tax, attributable to owners of the Company used in the computation of basic and diluted earnings per shareUS dollars thousands 2,53814,562 PDF p. 80 Label p. 80
Weighted average number of ordinary shares for basic earnings per share computationshares 835,574,058835,177,400 PDF p. 80 Label p. 80
- Share optionsshares 253,578247,836 PDF p. 80
Weighted average number of ordinary shares for diluted earnings per share computationshares 835,827,636835,425,236 PDF p. 80 Label p. 80
Definitions & sources

Cash composition including pledged balances

3 metrics

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Cash composition including pledged balances from Annual Report 2025
Metric / unit 2025Group2024Group2025Company2024Company Source
Cash composition including pledged balances
Cash at banks and on handUS dollars thousands 61,28452,3165,5231,780 PDF p. 91
Long-term deposits pledgedUS dollars thousands 4,1533,493–– PDF p. 91
SubtotalUS dollars thousands 65,43755,8095,5231,780 PDF p. 91
Definitions & sources

Cash denominated in foreign currencies, presented in USD thousands

2 metrics

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Cash denominated in foreign currencies, presented in USD thousands from Annual Report 2025
Metric / unit 2025Group2024Group2025Company2024Company Source
Cash denominated in foreign currencies, presented in USD thousands
Indonesian Rupiah (IDR)US dollars thousands 1,7932,815–– PDF p. 91
Singapore Dollar (SGD)US dollars thousands 2,8331,4162,7921,408 PDF p. 91
Definitions & sources

Cash-flow cash reconciliation

4 metrics

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Cash-flow cash reconciliation from Annual Report 2025
Metric / unit 2025Group2024Group Source
Cash-flow cash reconciliation
Cash and bank balancesUS dollars thousands 65,43755,809 PDF p. 91
Less:
Short-term deposits with maturity more than 3 monthsUS dollars thousands (30,009)(31,610) PDF p. 91
Cash-flow cash reconciliation
Long-term deposit pledgedUS dollars thousands (4,153)(3,493) PDF p. 91
Cash and cash equivalentsUS dollars thousands 31,27520,706 PDF p. 91
Definitions & sources

Group income — FY2024 source

15 metrics

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Group income — FY2024 source from Annual Report 2025
Metric / unit 2024Group2023Group Source
Group income — FY2024 source
RevenueUS dollars thousands 92,52094,091 PDF p. 45
Cost of salesUS dollars thousands (56,592)(68,065) PDF p. 45
Gross profitUS dollars thousands 35,92826,026 PDF p. 45
Other incomeUS dollars thousands 3,1823,413 PDF p. 45
Administrative expensesUS dollars thousands (4,547)(3,867) PDF p. 45
Other expensesUS dollars thousands (2,131)(19,580) PDF p. 45
Finance costsUS dollars thousands (733)(782) PDF p. 45
Profit before taxUS dollars thousands 31,6995,210 PDF p. 45
Income tax expenseUS dollars thousands (13,421)(2,057) PDF p. 45
Profit for the financial yearUS dollars thousands 18,2783,153 PDF p. 45
Attributable to:
Owners of the CompanyUS dollars thousands 14,5622,596 PDF p. 45
Group income — FY2024 source
Non-controlling interestsUS dollars thousands 3,716557 PDF p. 45
SubtotalUS dollars thousands 18,2783,153 PDF p. 45
Earnings per share (cents per share)
BasicUS cents per share 1.740.31 PDF p. 45
DilutedUS cents per share 1.740.31 PDF p. 45
Definitions & sources

Group comprehensive income — FY2024 source

7 metrics

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Group comprehensive income — FY2024 source from Annual Report 2025
Metric / unit 2024Group2023Group Source
Group comprehensive income — FY2024 source
Profit for the financial yearUS dollars thousands 18,2783,153 PDF p. 46
Item that will not be reclassifi ed subsequently to profi t or loss:
Remeasurement of defined benefit planUS dollars thousands (109)(215) PDF p. 46
Other comprehensive income for the financial year, net of taxUS dollars thousands (109)(215) PDF p. 46
Total comprehensive income for the financial year, net of taxUS dollars thousands 18,1692,938 PDF p. 46
Attributable to:
Owners of the CompanyUS dollars thousands 14,4722,418 PDF p. 46
Item that will not be reclassifi ed subsequently to profi t or loss:
Non-controlling interestsUS dollars thousands 3,697520 PDF p. 46
SubtotalUS dollars thousands 18,1692,938 PDF p. 46
Definitions & sources

Group and Company financial position — FY2024 source

32 metrics

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Group and Company financial position — FY2024 source from Annual Report 2025
Metric / unit 2024Group2023Group2024Company2023Company Source
Non-current assets
Oil and gas propertiesUS dollars thousands 11,0621,330–– PDF p. 47
Other plant and equipmentUS dollars thousands 38883875 PDF p. 47
Deferred tax assetsUS dollars thousands 1,1572,251–– PDF p. 47
Right-of-use assetsUS dollars thousands 8,7146,888808235 PDF p. 47
Exploration and evaluation assetsUS dollars thousands 7,7169,258–– PDF p. 47
Cash and bank balancesUS dollars thousands 3,4933,193–– PDF p. 47
Amounts due from subsidiariesUS dollars thousands –––116,642 PDF p. 47
Other non-current assetsUS dollars thousands 2,2042,278–– PDF p. 47
Investment in subsidiariesUS dollars thousands ––104,199– PDF p. 47
SubtotalUS dollars thousands 34,38425,286105,045116,952 PDF p. 47
Current assets
InventoriesUS dollars thousands 10,10711,759–– PDF p. 47
Other current assetsUS dollars thousands 32393239 PDF p. 47
Trade and other receivablesUS dollars thousands 10,58015,994479247 PDF p. 47
Amounts due from subsidiariesUS dollars thousands ––17,174– PDF p. 47
Cash and bank balancesUS dollars thousands 52,31651,4421,7803,659 PDF p. 47
SubtotalUS dollars thousands 73,03579,23419,4653,945 PDF p. 47
Total assetsUS dollars thousands 107,419104,520124,510120,897 PDF p. 47
Current liabilities
Income tax payableUS dollars thousands 3,5281,170–– PDF p. 47
Lease liabilitiesUS dollars thousands 6,3656,693282139 PDF p. 47
Trade and other payablesUS dollars thousands 24,34641,0841,8361,044 PDF p. 47
SubtotalUS dollars thousands 34,23948,9472,1181,183 PDF p. 47
Non-current liabilities
ProvisionsUS dollars thousands 3,4633,7253539 PDF p. 47
Lease liabilitiesUS dollars thousands 4,1323,05951297 PDF p. 47
Amounts due to subsidiariesUS dollars thousands ––2,5072,343 PDF p. 47
SubtotalUS dollars thousands 7,5956,7843,0542,479 PDF p. 47
Total liabilitiesUS dollars thousands 41,83455,7315,1723,662 PDF p. 47
Equity attributable to owners of the Company
Share capitalUS dollars thousands 270,138270,138270,138270,138 PDF p. 47
Company
ReservesUS dollars thousands (213,635)(228,234)(150,800)(152,903) PDF p. 47
SubtotalUS dollars thousands 56,50341,904119,338117,235 PDF p. 47
Non-controlling interestsUS dollars thousands 9,0826,885–– PDF p. 47
Total equityUS dollars thousands 65,58548,789119,338117,235 PDF p. 47
Total liabilities and equityUS dollars thousands 107,419104,520124,510120,897 PDF p. 47
Definitions & sources

Group changes in equity — FY2024 source / ending 2023

8 metrics

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Group changes in equity — FY2024 source / ending 2023 from Annual Report 2025
Metric / unit 2023Group / Share capital2023Group / Capital reduction reserve2023Group / Foreign currency translation reserve2023Group / Reserve for defined benefit plan2023Group / Accumulated losses2023Group / Equity reserve2023Group / Employee share option reserve2023Group / Total reserves2023Group / Non-controlling interests2023Group / Total equity Source
Group changes in equity — FY2024 source / complete two-year source panel
At 1 January 2023US dollars thousands 270,0652,886(90)–(235,697)1,764199(230,938)7,86546,992 PDF p. 48
Profit for the financial yearUS dollars thousands ––––2,596––2,5965573,153 PDF p. 48 Label p. 48
Other comprehensive income for the financial yearUS dollars thousands –––(178)–––(178)(37)(215) PDF p. 48 Label p. 48
Total comprehensive
Total comprehensive income for the financial yearUS dollars thousands –––(178)2,596––2,4185202,938 PDF p. 48 Label p. 48
Dividend paid by subsidiary to non-controlling interestUS dollars thousands ––––––––(1,500)(1,500) PDF p. 48 Label p. 48
distributions to owners
Exercise of employee share optionsUS dollars thousands 73–––––(38)(38)–35 PDF p. 48 Label p. 48
Contributions by and
Share-based payments (Note 25) - Grant of equity-settled share optionsUS dollars thousands ––––––324324–324 PDF p. 48 Label p. 48
At 31 December 2023 and 1 January 2024US dollars thousands 270,1382,886(90)(178)(233,101)1,764485(228,234)6,88548,789 PDF p. 48 Label p. 48
Definitions & sources

The original prints both years within one physical table. The shared closing/opening row is preserved separately as the previous year close and the next year opening, with the full original joint-date caption.

Group changes in equity — FY2024 source / ending 2024

8 metrics

Units appear below each metric. Scroll to compare years

Group changes in equity — FY2024 source / ending 2024 from Annual Report 2025
Metric / unit 2024Group / Share capital2024Group / Capital reduction reserve2024Group / Foreign currency translation reserve2024Group / Reserve for defined benefit plan2024Group / Accumulated losses2024Group / Equity reserve2024Group / Employee share option reserve2024Group / Total reserves2024Group / Non-controlling interests2024Group / Total equity Source
Contributions by and
At 31 December 2023 and 1 January 2024US dollars thousands 270,1382,886(90)(178)(233,101)1,764485(228,234)6,88548,789 PDF p. 48 Label p. 48
Profit for the financial yearUS dollars thousands ––––14,562––14,5623,71618,278 PDF p. 48 Label p. 48
Other comprehensive income for the financial yearUS dollars thousands –––(90)–––(90)(19)(109) PDF p. 48 Label p. 48
Total comprehensive
Total comprehensive income for the financial yearUS dollars thousands –––(90)14,562––14,4723,69718,169 PDF p. 48 Label p. 48
Dividend paid by subsidiary to non-controlling interestUS dollars thousands ––––––––(1,500)(1,500) PDF p. 48 Label p. 48
distributions to owners
Share-based payments (Note 25) - Grant of equity-settled share optionsUS dollars thousands ––––––183183–183 PDF p. 48 Label p. 48
Contributions by and
- Forfeiture of equity-settled share optionsUS dollars thousands ––––––(56)(56)–(56) PDF p. 48 Label p. 48
At 31 December 2024US dollars thousands 270,1382,886(90)(268)(218,539)1,764612(213,635)9,08265,585 PDF p. 48
Definitions & sources

The original prints both years within one physical table. The shared closing/opening row is preserved separately as the previous year close and the next year opening, with the full original joint-date caption.

Company changes in equity — FY2024 source / ending 2023

5 metrics

Units appear below each metric. Scroll to compare years

Company changes in equity — FY2024 source / ending 2023 from Annual Report 2025
Metric / unit 2023Company / Share capital2023Company / Capital reduction reserve2023Company / Accumulated losses2023Company / Employee share option reserve2023Company / Total reserves2023Company / Total equity Source
Company changes in equity — FY2024 source / complete two-year source panel
At 1 January 2023US dollars thousands 270,0652,886(268,547)199(265,462)4,603 PDF p. 49
Profit for the financial year, representing total comprehensive income for the financial yearUS dollars thousands ––112,273–112,273112,273 PDF p. 49 Label p. 49
distributions to owners
Exercise of employee share optionsUS dollars thousands 73––(38)(38)35 PDF p. 49 Label p. 49
Contributions by and distributions to owners
Share-based payments - Grant of equity-settled share optionsUS dollars thousands –––324324324 PDF p. 49 Label p. 49
At 31 December 2023 and 1 January 2024US dollars thousands 270,1382,886(156,274)485(152,903)117,235 PDF p. 49 Label p. 49
Definitions & sources

The original prints both years within one physical table. The shared closing/opening row is preserved separately as the previous year close and the next year opening, with the full original joint-date caption.

Company changes in equity — FY2024 source / ending 2024

5 metrics

Units appear below each metric. Scroll to compare years

Company changes in equity — FY2024 source / ending 2024 from Annual Report 2025
Metric / unit 2024Company / Share capital2024Company / Capital reduction reserve2024Company / Accumulated losses2024Company / Employee share option reserve2024Company / Total reserves2024Company / Total equity Source
Contributions by and distributions to owners
At 31 December 2023 and 1 January 2024US dollars thousands 270,1382,886(156,274)485(152,903)117,235 PDF p. 49 Label p. 49
Profit for the financial year, representing total comprehensive income for the financial yearUS dollars thousands ––1,976–1,9761,976 PDF p. 49 Label p. 49
distributions to owners
Share-based payments - Grant of equity-settled share optionsUS dollars thousands –––183183183 PDF p. 49 Label p. 49
Contributions by and distributions to owners
- Forfeiture of equity-settled share optionsUS dollars thousands –––(56)(56)(56) PDF p. 49 Label p. 49
At 31 December 2024US dollars thousands 270,1382,886(154,298)612(150,800)119,338 PDF p. 49
Definitions & sources

The original prints both years within one physical table. The shared closing/opening row is preserved separately as the previous year close and the next year opening, with the full original joint-date caption.

Group cash flows — FY2024 source

41 metrics

Units appear below each metric. Scroll to compare years

Group cash flows — FY2024 source from Annual Report 2025
Metric / unit 2024Group2023Group Source
Operating activities
Profit before taxUS dollars thousands 31,6995,210 PDF p. 50
Adjustments for:
- Amortisation of signature bonus and upfront feesUS dollars thousands 137137 PDF p. 50
- Adjustment to decommissioning costsUS dollars thousands (915)– PDF p. 50
- Defined pension plan expensesUS dollars thousands 9911,050 PDF p. 50
- Depletion and amortisation of oil and gas propertiesUS dollars thousands 4371,801 PDF p. 50
- Depreciation of other plant and equipmentUS dollars thousands 61186 PDF p. 50
- Depreciation of right-of-use assetsUS dollars thousands 4,5297,939 PDF p. 50
- Interest expense on lease liabilitiesUS dollars thousands 592782 PDF p. 50
- Interest income from bank depositsUS dollars thousands (1,122)(1,898) PDF p. 50
- Interest income on cash callUS dollars thousands (301)(649) PDF p. 50
- Interest expenses on decommissioning costsUS dollars thousands 301133 PDF p. 50
- Net gain on early lease terminationUS dollars thousands (195)(58) PDF p. 50
- Share-based paymentsUS dollars thousands 127324 PDF p. 50
- (Reversal)/unsuccessful exploration and evaluation expendituresUS dollars thousands (137)17,727 PDF p. 50
- Write off /(back) of expected credit loss for other receivablesUS dollars thousands 31(8) PDF p. 50
- Unwinding of discount on decommissioning provisionsUS dollars thousands 141– PDF p. 50
- Unrealised foreign exchange gainUS dollars thousands (13)– PDF p. 50
Operating cash flows before changes in working capitalUS dollars thousands 36,36332,676 PDF p. 50
Changes in working capital
Decrease/(increase) in inventoriesUS dollars thousands 1,652(10,489) PDF p. 50
Decrease/(increase) in trade and other receivablesUS dollars thousands 5,390(2,728) PDF p. 50
(Decrease)/increase in trade and other payablesUS dollars thousands (380)1,472 PDF p. 50
Decrease in defined benefit plan liabilitiesUS dollars thousands (677)(953) PDF p. 50
Cash flows from operationsUS dollars thousands 42,34819,978 PDF p. 50
Income tax paidUS dollars thousands (9,970)(5,054) PDF p. 50
Interest receivedUS dollars thousands 1,4231,898 PDF p. 50
Net cash flows from operating activitiesUS dollars thousands 33,80116,822 PDF p. 50
Investing activities
Additions to exploration and evaluation assetsUS dollars thousands (24,074)(9,852) PDF p. 50
Additions to oil and gas propertiesUS dollars thousands (682)(1,701) PDF p. 50
Cash call contributions for decommissioning provisionsUS dollars thousands (301)(133) PDF p. 50
Increase in deposits pledgedUS dollars thousands (300)(2) PDF p. 50
Placement in short-term deposits with maturity more than 3 monthsUS dollars thousands (31,610)– PDF p. 50
Payment for signature bonus and related costsUS dollars thousands (64)– PDF p. 50
Purchase of other plant and equipmentUS dollars thousands (11)(72) PDF p. 50
Net cash flows used in investing activitiesUS dollars thousands (57,042)(11,760) PDF p. 50
Financing activities
Dividend paid by subsidiary to non-controlling interestUS dollars thousands (1,500)(1,500) PDF p. 50
Payment of lease liabilitiesUS dollars thousands (5,995)(9,428) PDF p. 50
Proceeds from exercise of employee share optionsUS dollars thousands –35 PDF p. 50
Net cash flows used in financing activitiesUS dollars thousands (7,495)(10,893) PDF p. 50
Net decrease in cash and cash equivalentsUS dollars thousands (30,736)(5,831) PDF p. 50
Cash and cash equivalents at beginning of the financial yearUS dollars thousands 51,44257,273 PDF p. 50
Cash and cash equivalents at end of the financial yearUS dollars thousands 20,70651,442 PDF p. 50
Definitions & sources

Basic and diluted EPS inputs

4 metrics

Units appear below each metric. Scroll to compare years

Basic and diluted EPS inputs from Annual Report 2025
Metric / unit 2024Group2023Group Source
Basic and diluted EPS inputs
Profit, net of tax, attributable to owners of the Company used in the computation of basic and diluted earnings per shareUS dollars thousands 14,5622,596 PDF p. 70 Label p. 70
Weighted average number of ordinary shares for basic earnings per share computationshares 835,177,400834,833,729 PDF p. 70 Label p. 70
- Share optionsshares 247,836718,962 PDF p. 70
Weighted average number of ordinary shares for diluted earnings per share computationshares 835,425,236835,552,691 PDF p. 70 Label p. 70
Definitions & sources

Group income and comprehensive income — FY2022 source

15 metrics

Units appear below each metric. Scroll to compare years

Group income and comprehensive income — FY2022 source from Annual Report 2025
Metric / unit 2022Group2021Group Source
Group income and comprehensive income — FY2022 source
RevenueUS dollars thousands 104,93982,465 PDF p. 50
Cost of salesUS dollars thousands (60,871)(44,820) PDF p. 50
Gross profitUS dollars thousands 44,06837,645 PDF p. 50
Other incomeUS dollars thousands 1,80811,421 PDF p. 50
Administrative expensesUS dollars thousands (4,106)(3,516) PDF p. 50
Other expensesUS dollars thousands (380)(1,719) PDF p. 50
Finance costsUS dollars thousands (1,343)(1,642) PDF p. 50
Profit before taxUS dollars thousands 40,04742,189 PDF p. 50
Income tax expenseUS dollars thousands (15,160)(14,875) PDF p. 50
Profit for the financial year, representing total comprehensive income for the financial yearUS dollars thousands 24,88727,314 PDF p. 50 Label p. 50
Total comprehensive income for the fi nancial year attributable to:
Owners of the CompanyUS dollars thousands 20,12723,610 PDF p. 50
Non-controlling interestsUS dollars thousands 4,7603,704 PDF p. 50
SubtotalUS dollars thousands 24,88727,314 PDF p. 50
Earnings per share (cents per share)
BasicUS cents per share 2.423.20 PDF p. 50
DilutedUS cents per share 2.413.18 PDF p. 50
Definitions & sources

Group and Company financial position — FY2022 source

29 metrics

Units appear below each metric. Scroll to compare years

Group and Company financial position — FY2022 source from Annual Report 2025
Metric / unit 2022Group2021Group2022Company2021Company Source
Non-current assets
Oil and gas propertiesUS dollars thousands –676–– PDF p. 51
Other plant and equipmentUS dollars thousands 2023512713 PDF p. 51
Deferred tax assetsUS dollars thousands 1,3681,024–– PDF p. 51
Right-of-use assetsUS dollars thousands 12,99911,14079198 PDF p. 51
Exploration and evaluation assetsUS dollars thousands 161––– PDF p. 51
Cash and bank balancesUS dollars thousands 3,1913,189–– PDF p. 51
Amounts due from subsidiariesUS dollars thousands ––4,9345,784 PDF p. 51
Other non-current assetsUS dollars thousands 2,4152,552–– PDF p. 51
Investment in subsidiariesUS dollars thousands –––– PDF p. 51
SubtotalUS dollars thousands 20,33618,9325,0405,995 PDF p. 51
Current assets
InventoriesUS dollars thousands 1,270770–– PDF p. 51
Other current assetsUS dollars thousands 31432840 PDF p. 51
Trade and other receivablesUS dollars thousands 13,26612,400169156 PDF p. 51
Cash and bank balancesUS dollars thousands 57,27333,8171,1342,066 PDF p. 51
SubtotalUS dollars thousands 71,84047,0301,3312,262 PDF p. 51
Current liabilities
Income tax payableUS dollars thousands 3,2866,873–– PDF p. 51
Lease liabilitiesUS dollars thousands 11,4096,96484117 PDF p. 51
Trade and other payablesUS dollars thousands 24,53522,3801,6571,217 PDF p. 51
SubtotalUS dollars thousands 39,23036,2171,7411,334 PDF p. 51
Net current assets/(liabilities)US dollars thousands 32,61010,813(410)928 PDF p. 51
Non-current liabilities
ProvisionsUS dollars thousands 727272727 PDF p. 51
Lease liabilitiesUS dollars thousands 5,2277,842–84 PDF p. 51
SubtotalUS dollars thousands 5,9547,86927111 PDF p. 51
Net assetsUS dollars thousands 46,99221,8764,6036,812 PDF p. 51
Equity attributable to owners of the Company
Share capitalUS dollars thousands 270,065269,982270,065269,982 PDF p. 51
Company
ReservesUS dollars thousands (230,938)(251,211)(265,462)(263,170) PDF p. 51
SubtotalUS dollars thousands 39,12718,7714,6036,812 PDF p. 51
Non-controlling interestsUS dollars thousands 7,8653,105–– PDF p. 51
Total equityUS dollars thousands 46,99221,8764,6036,812 PDF p. 51
Definitions & sources

Group changes in equity — FY2022 source / ending 2021

8 metrics

Units appear below each metric. Scroll to compare years

Group changes in equity — FY2022 source / ending 2021 from Annual Report 2025
Metric / unit 2021Group / Share capital2021Group / Capital reduction reserve2021Group / Foreign currency translation reserve2021Group / Accumulated losses2021Group / Equity reserve2021Group / Employee share option reserve2021Group / Total reserves2021Group / Non-controlling interests2021Group / Total (deficit)/equity Source
Group changes in equity — FY2022 source / complete two-year source panel
At 1 January 2021US dollars thousands 258,1602,886(90)(279,434)1,764275(274,599)(14,319)(30,758) PDF p. 52
Profit for the financial year, representing total comprehensive income for the financial yearUS dollars thousands –––23,610––23,6103,70427,314 PDF p. 52 Label p. 52
Effects of debt conversion of non-controlling interests in a subsidiary (Note 19)US dollars thousands –––––––13,72013,720 PDF p. 52 Label p. 52
distributions to owners
Issuance of shares (Note 21)US dollars thousands 11,432–––––––11,432 PDF p. 52
Contributions by and distributions to owners
Share issuance expensesUS dollars thousands (172)–––––––(172) PDF p. 52
Exercise of employee share optionsUS dollars thousands 562––––(266)(266)–296 PDF p. 52 Label p. 52
Share-based payments (Note 26) - Grant of equity-settled share optionsUS dollars thousands –––––4444–44 PDF p. 52 Label p. 52
At 31 December 2021 and 1 January 2022US dollars thousands 269,9822,886(90)(255,824)1,76453(251,211)3,10521,876 PDF p. 52 Label p. 52
Definitions & sources

The original prints both years within one physical table. The shared closing/opening row is preserved separately as the previous year close and the next year opening, with the full original joint-date caption.

Group changes in equity — FY2022 source / ending 2022

5 metrics

Units appear below each metric. Scroll to compare years

Group changes in equity — FY2022 source / ending 2022 from Annual Report 2025
Metric / unit 2022Group / Share capital2022Group / Capital reduction reserve2022Group / Foreign currency translation reserve2022Group / Accumulated losses2022Group / Equity reserve2022Group / Employee share option reserve2022Group / Total reserves2022Group / Non-controlling interests2022Group / Total (deficit)/equity Source
Contributions by and distributions to owners
At 31 December 2021 and 1 January 2022US dollars thousands 269,9822,886(90)(255,824)1,76453(251,211)3,10521,876 PDF p. 52 Label p. 52
Profit for the financial year, representing total comprehensive income for the financial yearUS dollars thousands –––20,127––20,1274,76024,887 PDF p. 52 Label p. 52
distributions to owners
Exercise of employee share optionsUS dollars thousands 83––––(40)(40)–43 PDF p. 52 Label p. 52
Contributions by and distributions to owners
Share-based payments (Note 26) - Grant of equity-settled share optionsUS dollars thousands –––––186186–186 PDF p. 52 Label p. 52
At 31 December 2022US dollars thousands 270,0652,886(90)(235,697)1,764199(230,938)7,86546,992 PDF p. 52
Definitions & sources

The original prints both years within one physical table. The shared closing/opening row is preserved separately as the previous year close and the next year opening, with the full original joint-date caption.

Company changes in equity — FY2022 source / ending 2021

7 metrics

Units appear below each metric. Scroll to compare years

Company changes in equity — FY2022 source / ending 2021 from Annual Report 2025
Metric / unit 2021Company / Share capital2021Company / Capital reduction reserve2021Company / Accumulated losses2021Company / Employee share option reserve2021Company / Total reserves2021Company / Total (deficit)/equity Source
Company changes in equity — FY2022 source / complete two-year source panel
At 1 January 2021US dollars thousands 258,1602,886(264,136)275(260,975)(2,815) PDF p. 53
Loss for the financial year, representing total comprehensive income for the financial yearUS dollars thousands ––(1,973)–(1,973)(1,973) PDF p. 53 Label p. 53
distributions to owners
Issuance of shares (Note 21)US dollars thousands 11,432––––11,432 PDF p. 53
Contributions by and distributions to owners
Share issuance expensesUS dollars thousands (172)––––(172) PDF p. 53
Exercise of employee share optionsUS dollars thousands 562––(266)(266)296 PDF p. 53 Label p. 53
Share-based payments (Note 26) - Grant of equity-settled share optionsUS dollars thousands –––444444 PDF p. 53 Label p. 53
At 31 December 2021 and 1 January 2022US dollars thousands 269,9822,886(266,109)53(263,170)6,812 PDF p. 53 Label p. 53
Definitions & sources

The original prints both years within one physical table. The shared closing/opening row is preserved separately as the previous year close and the next year opening, with the full original joint-date caption.

Company changes in equity — FY2022 source / ending 2022

5 metrics

Units appear below each metric. Scroll to compare years

Company changes in equity — FY2022 source / ending 2022 from Annual Report 2025
Metric / unit 2022Company / Share capital2022Company / Capital reduction reserve2022Company / Accumulated losses2022Company / Employee share option reserve2022Company / Total reserves2022Company / Total (deficit)/equity Source
Contributions by and distributions to owners
At 31 December 2021 and 1 January 2022US dollars thousands 269,9822,886(266,109)53(263,170)6,812 PDF p. 53 Label p. 53
Loss for the financial year, representing total comprehensive income for the financial yearUS dollars thousands ––(2,438)–(2,438)(2,438) PDF p. 53 Label p. 53
distributions to owners
Exercise of employee share optionsUS dollars thousands 83––(40)(40)43 PDF p. 53 Label p. 53
Contributions by and distributions to owners
Share-based payments (Note 26) - Grant of equity-settled share optionsUS dollars thousands –––186186186 PDF p. 53 Label p. 53
At 31 December 2022US dollars thousands 270,0652,886(268,547)199(265,462)4,603 PDF p. 53
Definitions & sources

The original prints both years within one physical table. The shared closing/opening row is preserved separately as the previous year close and the next year opening, with the full original joint-date caption.

Group cash flows — FY2022 source

38 metrics

Units appear below each metric. Scroll to compare years

Group cash flows — FY2022 source from Annual Report 2025
Metric / unit 2022Group2021Group Source
Operating activities
Profit before taxUS dollars thousands 40,04742,189 PDF p. 54
Adjustments for:
- Amortisation of signature bonus and upfront feesUS dollars thousands 137137 PDF p. 54
- Defined pension plan expensesUS dollars thousands 1,311814 PDF p. 54
- Depletion and amortisation of oil and gas propertiesUS dollars thousands 845163 PDF p. 54
- Depreciation of other plant and equipmentUS dollars thousands 175161 PDF p. 54
- Depreciation of right-of-use assetsUS dollars thousands 5,8974,896 PDF p. 54
- Interest expense on lease liabilitiesUS dollars thousands 1,3431,642 PDF p. 54
- Interest income from bank depositsUS dollars thousands (538)(34) PDF p. 54
- Net gain on early lease terminationUS dollars thousands –(66) PDF p. 54
- Provision for decommissioning costsUS dollars thousands 40104 PDF p. 54
- Provision for expected credit loss for other receivablesUS dollars thousands 21509 PDF p. 54
- Reversal of accruals for potential claimsUS dollars thousands –(6,439) PDF p. 54
- Settlement of joint venture’s other payablesUS dollars thousands –(3,692) PDF p. 54
- Share-based paymentsUS dollars thousands 18644 PDF p. 54
Operating cash flows before changes in working capitalUS dollars thousands 49,46440,428 PDF p. 54
Changes in working capital
Increase in inventoriesUS dollars thousands (500)(770) PDF p. 54
Increase in trade and other receivablesUS dollars thousands (875)(64) PDF p. 54
Increase in trade and other payablesUS dollars thousands 2,1001,677 PDF p. 54
Defined benefit plan liabilitiesUS dollars thousands (611)(814) PDF p. 54
Cash flows from operationsUS dollars thousands 49,57840,457 PDF p. 54
Income tax paidUS dollars thousands (19,092)(12,829) PDF p. 54
Interest receivedUS dollars thousands 53834 PDF p. 54
Net cash flows from operating activitiesUS dollars thousands 31,02427,662 PDF p. 54
Investing activities
Additions to exploration and evaluation assetsUS dollars thousands (105)– PDF p. 54
Additions to oil and gas propertiesUS dollars thousands (169)(727) PDF p. 54
Cash call contributions for decommissioning provisionsUS dollars thousands (40)(671) PDF p. 54
Purchase of other plant and equipmentUS dollars thousands (26)(103) PDF p. 54
Net cash flows used in investing activitiesUS dollars thousands (340)(1,501) PDF p. 54
Financing activities
Increase in deposits pledgedUS dollars thousands (2)(2) PDF p. 54
Loan from non-controlling interestUS dollars thousands –24 PDF p. 54
Payment of lease liabilitiesUS dollars thousands (7,269)(5,720) PDF p. 54
Proceeds from exercise of employee share optionsUS dollars thousands 43296 PDF p. 54
Repayment of advances to related partyUS dollars thousands –(1,683) PDF p. 54
Share issuance expenseUS dollars thousands –(172) PDF p. 54
Net cash flows used in financing activitiesUS dollars thousands (7,228)(7,257) PDF p. 54
Net increase in cash and cash equivalentsUS dollars thousands 23,45618,904 PDF p. 54
Cash and cash equivalents at beginning of the financial yearUS dollars thousands 33,81714,913 PDF p. 54
Cash and cash equivalents at end of the financial yearUS dollars thousands 57,27333,817 PDF p. 54
Definitions & sources

Basic and diluted EPS inputs

4 metrics

Units appear below each metric. Scroll to compare years

Basic and diluted EPS inputs from Annual Report 2025
Metric / unit 2022Group2021Group Source
Basic and diluted EPS inputs
Profit, net of tax, attributable to owners of the Company used in the computation of basic and diluted earnings per shareUS dollars thousands 20,12723,610 PDF p. 77 Label p. 77
Weighted average number of ordinary shares for basic earnings per share computationshares 832,556,777738,471,384 PDF p. 77 Label p. 77
- Share optionsshares 1,794,0323,266,563 PDF p. 77
Weighted average number of ordinary shares for diluted earnings per share computationshares 834,350,809741,737,947 PDF p. 77 Label p. 77
Definitions & sources

Where the money comes from

Segment information

By business

Segment information – oil and gas segment, adjustments and per consolidated financial statements (US$'000) 22 lines
Segment information – oil and gas segment, adjustments and per consolidated financial statements (US$'000)
Item / unit 2025Oil and gas segment2024Oil and gas segment2025Adjustments2024Adjustments2025Per consolidated financial statements2024Per consolidated financial statements Source
Segment information
RevenueUS$'000 77,56692,520––77,56692,520 PDF p. 106
Results
Amortisation of signature bonus and upfront feesUS$'000 (148)(137)––(148)(137) PDF p. 106
Adjustment to decommissioning costsUS$'000 –915–––915 PDF p. 106
Defined pension plan expensesUS$'000 (893)(991)––(893)(991) PDF p. 106
Depreciation and amortisationUS$'000 (2,346)(498)––(2,346)(498) PDF p. 106
Depreciation of right-of-use assetsUS$'000 (4,980)(4,529)––(4,980)(4,529) PDF p. 106
Finance costsUS$'000 (738)(733)––(738)(733) PDF p. 106
Interest incomeUS$'000 2,0191,122––2,0191,122 PDF p. 106
Interest income on cash callUS$'000 415301––415301 PDF p. 106
Interest expenses on decommissioning costsUS$'000 (415)(301)––(415)(301) PDF p. 106
Loss on disposal of other plant and equipmentUS$'000 (1)–––(1)– PDF p. 106
Other plant and equipment written offUS$'000 (24)–––(24)– PDF p. 106
Net (loss)/gain on early lease terminationUS$'000 (11)195––(11)195 PDF p. 106
Segment profit before taxUS$'000 10,01631,699––10,01631,699 PDF p. 106
Share-based paymentsUS$'000 (19)(127)––(19)(127) PDF p. 106
(Unsuccessful)/reversal of unsuccessful exploration and evaluation expendituresUS$'000 (12,255)137––(12,255)137 PDF p. 106
Variable entitlement split adjustmentsUS$'000 (103)(976)––(103)(976) PDF p. 106
Expected credit loss for trade and other receivablesUS$'000 (4)(31)––(4)(31) PDF p. 106
Write off of oil and gas propertiesUS$'000 (435)–––(435)– PDF p. 106
Assets
Total capital expenditureUS$'000 7,4998,638––7,4998,638 PDF p. 106
Segment assetsUS$'000 107,318106,2628091,157108,127107,419 PDF p. 106
Segment liabilitiesUS$'000 38,07738,3062,2313,52840,30841,834 PDF p. 106
Notes

Group has only one reportable segment: exploration and production of oil and gas. No operating segments aggregated.

The printed 'Notes' column carries reference letters A (total capital expenditure) and B (segment assets/liabilities adjustments); not included in values.

Segment liabilities row appears under the Assets heading in the source layout.

Total capital expenditure additions and reconciling items (Group, US$'000) 6 lines
Total capital expenditure additions and reconciling items (Group, US$'000)
Item / unit 2025Group2024Group Source
Additions in
- Oil and gas propertiesUS$'000 2,4861,240 PDF p. 107
- Exploration and evaluation assetsUS$'000 4,7777,387 PDF p. 107
- Other plant and equipmentUS$'000 23611 PDF p. 107
Segment assets (added to arrive at total assets)
Deferred tax assetsUS$'000 8091,157 PDF p. 107
Segment liabilities (added to arrive at total liabilities)
Income tax payableUS$'000 2,2313,528 PDF p. 107
Information about major customer
Customer AUS$'000 64,92979,345 PDF p. 107
Notes

Total of additions printed as 7,499 (2025) and 8,638 (2024).

Group derives revenue from one major customer (2024: one major customer).

By geography

Geographical information (US$'000) 3 lines
Geographical information (US$'000)
Item / unit 2025Revenue2024Revenue2025Total assets2024Total assets2025Total capital expenditure2024Total capital expenditure2025Depletion and depreciation2024Depletion and depreciation Source
By geographical market
IndonesiaUS$'000 77,56692,520101,49080,4147,2638,6277,0154,820 PDF p. 107
SingaporeUS$'000 ––6,63727,00523611311208 PDF p. 107
TotalUS$'000 77,56692,520108,127107,4197,4998,6387,3265,028 PDF p. 107
Notes

Sales are by location of customers; total assets and capital expenditure by location of assets.

The total row has no printed label; 'Total' is a descriptor.

Debt

Borrowings

Note 28(b) Contractual undiscounted maturity – lease liabilities, Group

Note 28(b) Contractual undiscounted maturity – lease liabilities, Group — Group
Item / unit 20251 year or less, US$'00020251 to 5 years, US$'0002025More than 5 years, US$'0002025Total, US$'00020241 year or less, US$'00020241 to 5 years, US$'0002024More than 5 years, US$'0002024Total, US$'000 Source
Financial liabilities
Lease liabilitiesUS$'000 4,1481,637–5,7857,0155,069–12,084 PDF p. 102PDF p. 103
Notes

Based on contractual undiscounted repayment obligations.

Note 28(b) Contractual undiscounted maturity – lease liabilities, Company

Note 28(b) Contractual undiscounted maturity – lease liabilities, Company — Company
Item / unit 20251 year or less, US$'00020251 to 5 years, US$'0002025More than 5 years, US$'0002025Total, US$'00020241 year or less, US$'00020241 to 5 years, US$'0002024More than 5 years, US$'0002024Total, US$'000 Source
Financial liabilities
Lease liabilitiesUS$'000 258306–564305532–837 PDF p. 103PDF p. 104
Notes

Based on contractual undiscounted repayment obligations.

Borrowing notes 2 tables

Lease liabilities – current and non-current

Lease liabilities – current and non-current
Item / unit 2025Group, US$'0002024Group, US$'0002025Company, US$'0002024Company, US$'000 Source
Lease liabilities
Lease liabilities – currentUS$'000 3,9556,365243282 PDF p. 93
Lease liabilities – non-currentUS$'000 1,5874,132299512 PDF p. 93
Lease liabilities (total, unlabelled)
5,542US$'000 5,54210,497542794 PDF p. 93
Notes

The Group discounted lease payments using incremental borrowing rates from 3.47% - 11.22% (2024: 3.47% - 13.52%) per annum. The maturity analysis of lease liabilities are disclosed in Note 28(b).

The total row is printed without a label.

Lease liabilities denominated in foreign currencies at 31 December

Lease liabilities denominated in foreign currencies at 31 December
Item / unit 2025Group, US$'0002024Group, US$'0002025Company, US$'0002024Company, US$'000 Source
Foreign currency lease liabilities
Singapore Dollar (SGD)US$'000 542794542794 PDF p. 93
Indonesian Rupiah (IDR)US$'000 4,1447,877–– PDF p. 93
Notes

No bank borrowings or interest-bearing loans are shown on the balance sheet; the only debt-like liabilities are lease liabilities.

Payout

Dividends & distributions

Dividend policy

ItemValuePeriod / scopeSource
Dividend policy The Company has adopted a dividend policy as of 26 February 2026, which aims to balance the delivery of strong, sustainable returns to shareholders with the preservation of adequate liquidity and financial reserves to meet the Group’s working capital requirements, whilst maintaining financial flexibility to deliver future growth. Company policy · As at 2026-02-26 PDF p. 39

Dividends declared and proposed

ItemValuePeriod / scopeSource
first and final (tax exempt one-tier) dividend 0.30 Singapore cents per ordinary share FY2025 proposed, first and final, tax exempt one-tier, subject to shareholder approval at AGM on 28 April 2026 PDF p. 118

Payout

ItemValuePeriod / scopeSource
Dividend S$0.003 FY2025 proposed total per ordinary share; no FY2024 comparative dividend PDF p. 6

Extracted from Annual Report 2025 and checked against the cited pages; see the original report for full context.

Auditor’s report

Audit & risk signals

Audit opinion

ItemValuePeriod / scopeSource
Ernst & Young LLP Ernst & Young LLP Group and Company, FY ended 31 December 2025 PDF p. 54
Engagement partner Toong Weng Sum Vincent Group PDF p. 54
Opinion so as to give a true and fair view of the consolidated financial position of the Group and the financial position of the Company as at 31 December 2025 Group and Company PDF p. 50

Key audit matters

ItemValuePeriod / scopeSource
Hydrocarbon reserve and resource estimates An appraisal of the oil and gas reserves is a subjective process involving significant judgments. Group PDF p. 50
Decommissioning costs The estimation of decommissioning costs by the Group involves significant judgement in estimating the discount rate, and the discounting period used to estimate the present value of these cash flows. Group PDF p. 51
Results of Independent Investigation We identified this as a key audit matter because of the uncertainty surrounding any potential enforcement actions that may be initiated by relevant regulatory authorities which might have significant financial or other implications to the Group. Group PDF p. 51

Extracted from Annual Report 2025 and checked against the cited pages; see the original report for full context.

How to read these figures

Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.

Comparative figures follow Annual Report 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.

Primary Group income/comprehensive income, Group/Company financial position, complete Group/Company equity movements and Group cash flows cover FY2021–FY2025 from three independently verified original reports. Separate Company income and cash-flow statements are not disclosed.

Primary amounts are US dollars thousands; EPS is US cents per share. Company share capital amounts printed in Singapore dollars in the shareholder register are a separate currency basis.

Each original two-year equity statement is separated into dated annual movements. Its single printed closing/opening carry-forward row has two explicit logical uses. Total reserves exclude share capital and are not a subtotal of owners equity.

Three verified original FY2025, FY2024 and FY2022 annual reports total 368 physical PDF pages. Primary comparisons cover FY2021–FY2025, including full Group and Company equity movements. Opening 1 January 2021 equity is separately dated and is not a full FY2020 annual series. No historical chart series is substituted for primary statements.

Primary monetary amounts are United States dollars thousands; primary EPS is US cents per share. EPS note weighted-average share counts are full shares, not thousands. Shareholder-register paid share capital of SGD338,408,169.61 at 20 March 2026 is a different currency, date and basis from fiscal USD share capital.

Group and Company equity Total reserves excludes share capital. The jointly captioned closing 31 December/opening 1 January row is reused only for its two explicit date roles in consecutive annual equity tables, without duplicating transactions. FY2022 source prints Total (deficit)/equity and includes negative opening 2021 equity.

FY2024 Company equity physical page 49 places the Grant of equity-settled share options caption below its USD324 thousand amount. That wrapped caption is bound to its own amount, not the following closing/opening row. FY2023 Company profit of USD112,273 thousand is separate from Group owners profit of USD2,596 thousand.

FY2025 Group equity includes USD1,500 thousand dividend payable to non-controlling interests; FY2025 cash flow prints no such dividend paid, compared with USD1,500 thousand paid in FY2024. FY2021 USD13,720 thousand non-controlling-interest debt conversion is a noncash equity movement.

FY2025 cash and bank balances total USD65,437 thousand, including USD4,153 thousand pledged deposits. Deducting USD30,009 thousand deposits over three months and USD4,153 thousand pledged deposits gives USD31,275 thousand cash-flow cash. The pledged balance increase is USD660 thousand while cash flow prints USD661 thousand outflow; the over-three-month deposit reduction is USD1,601 thousand while cash flow prints USD1,600 thousand withdrawal. Both original USD1 thousand differences are retained; their cause is not disclosed or inferred.

FY2025 EPS note physical page 80 prints new shares of 20,000 on 9 March 2026 and malformed 2,160,00 on 10 March 2026. The malformed original is retained without asserting a corrected count. Rounded fiscal shares of 835,917 thousand do not establish an exact post-year share increment. Included dilutive options are retained; the note excludes certain other options as antidilutive.

FY2025 USD145 thousand share-capital increase comprises USD86 thousand cash proceeds and USD59 thousand option-reserve transfer. Foreign-currency-labelled cash composition rows remain amounts in USD thousands. Separate Company income and cash-flow statements are not disclosed. Selected EPS and cash notes supplement primary statements; other note tables and charts are not claimed as fully extracted.

These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.