Variable Interest Entities (Tables)

6 Months Ended

Dec. 31, 2024

The following table summarizes the carrying amounts of TB1’s assets and liabilities included in the Group’s

condensed consolidated balance sheet as of December 31, 2024 and June 30, 2024:


	December 31, 2024	June 30, 2024
ASSETS
Current assets
Cash and cash equivalents	$11,230,191	$1,488,541
Trade and other receivables:
Joint interest billing	3,565,181	10,298,322
Intercompany receivable	4,359,082	7,415,684
ATO receivable	2,072,833	615,480
Other receivable	2,463	—
Prepaid expenses and other current assets	1,129,675	1,476,094
Total current assets	22,359,425	21,294,121
Natural gas properties, successful efforts method:
Unproved properties	210,864,387	167,998,061
Assets under construction - natural gas equipment	11,850,337	7,542,064
Finance lease right-of-use assets	15,632,023	20,697,452
Prepaid expenses and other non-current assets	949,247	385,215
Total non-current assets	239,295,994	196,622,792
TOTAL ASSETS	$261,655,419	$217,916,913

LIABILITIES
Current liabilities
Accounts payable and accrued expenses	$17,518,868	$10,569,865
Current portion of finance lease obligations	15,205,744	12,767,400
Total current liabilities	32,724,612	23,337,265
Finance lease obligations	6,618,699	14,141,713
Asset retirement obligations	4,575,103	4,174,178
Loan from Tamboran	139,047,677	113,096,572
Total non-current liabilities	150,241,479	131,412,463
TOTAL LIABILITIES	$182,966,091	$154,749,728