Leases (Tables)

9 Months Ended

Mar. 31, 2025

Leases [Abstract]

Assets and Liabilities, Lessee

The following table presents the classification and location of the Group’s leases on the condensed consolidated

balance sheets:

	March 31, 2025	June 30, 2024
Right-of-use assets:
Operating lease right-of-use assets	$736,944	$962,052
Finance lease right-of-use assets	18,864,368	20,697,452
	19,601,312	21,659,504
Lease liabilities:
Current portion of operating lease obligations	243,058	397,999
Non-current portion of operating lease obligations	511,432	587,250
Current portion of finance lease obligations	13,760,869	12,767,400
Non-current portion of finance lease obligations	12,358,826	14,141,713
	$26,874,185	$27,894,362

The following table presents supplemental information for the Group’s non-cancellable leases for the nine months

ended March 31, 2025, and 2024:

	Nine months ended March 31,
	2025	2024
Operating leases:
Weighted-average remaining lease term	2.83	2.86
Weighted-average incremental borrowing rate	11.84%	10.15%
Finance leases:
Weighted-average remaining lease term	2.08	1.92
Weighted-average incremental borrowing rate	12.76%	13.10%

Lease, Cost

For the three months and nine months ended March 31, 2025, and 2024, the components of the lease costs were as

follows:

	Three months ended March 31,		Nine months ended March 31,
	2025	2024	2025	2024
Operating leases:
Operating lease cost charged to profit and loss	$126,954	$142,710	$414,128	$354,695
Finance leases:
Interest on lease liabilities	784,804	743,963	2,273,310	2,322,044
Depreciation on right-of-use assets	2,227,380	2,780,940	7,292,809	8,806,088
Total finance lease cost	3,012,184	3,524,903	9,566,119	11,128,132
Less: Lease cost capitalized to unproved properties	(3,012,184)	(3,524,903)	(9,566,119)	(11,128,132)
Finance lease cost charged to profit and loss	$—	$—	$—	$—

The following table presents the cash flow information related to lease payments for the nine months ended

March 31, 2025, and 2024:

	Nine months ended March 31,
	2025	2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$414,128	$354,695
Financing cash flows for finance leases	6,507,928	3,723,300
	$6,922,056	$4,077,995

Lessee, Operating Lease, Liability, to be Paid, Maturity

As of March 31, 2025, the Group’s undiscounted minimum cash payment obligations for its lease liabilities are as

follows:

As of March 31, 2025	Operating leases	Finance leases
Fiscal year ending June 30, 2025 (excluding nine months period from July 1, 2024 to March 31, 2025)	$78,648	$3,727,500
Fiscal year ending June 30, 2026	322,147	14,417,500
Fiscal year ending June 30, 2027	332,505	11,297,000
Thereafter	160,355	—
Total lease payments	893,655	29,442,000
Less: Imputed interest	(139,165)	(3,322,305)
Present value of lease liabilities1	$754,490	$26,119,695

1 Includes both current and long-term portion of the lease liabilities.

Finance Lease, Liability, to be Paid, Maturity

As of March 31, 2025, the Group’s undiscounted minimum cash payment obligations for its lease liabilities are as

follows:

As of March 31, 2025	Operating leases	Finance leases
Fiscal year ending June 30, 2025 (excluding nine months period from July 1, 2024 to March 31, 2025)	$78,648	$3,727,500
Fiscal year ending June 30, 2026	322,147	14,417,500
Fiscal year ending June 30, 2027	332,505	11,297,000
Thereafter	160,355	—
Total lease payments	893,655	29,442,000
Less: Imputed interest	(139,165)	(3,322,305)
Present value of lease liabilities1	$754,490	$26,119,695

1 Includes both current and long-term portion of the lease liabilities.