Property, Plant and Equipment & Natural Gas Properties

3 Months Ended

Sep. 30, 2026

Property, Plant, and Equipment [Abstract]

Property, Plant and Equipment & Natural Gas Properties

Note 3 – Property, Plant and Equipment & Natural Gas Properties

Natural Gas Properties

The Group held unproved natural gas properties as of September 30, 2026 and June 30, 2026 amounting to $890.2

million and $807.0 million, respectively. These amounts reflect the Group’s exploration and evaluation projects, which are

pending the determination of proven and probable reserves and were not being depleted for the three months ended

September 30, 2026, and 2025. These assets will be reclassified to proven gas properties when they are determined to be

productive or are assigned proved reserves. Upon this reclassification, the asset will be depleted upon commencement of

production.

In July 2026, the Group received a cash refund of $2.1 million for Research and Development expenditure incurred

in prior periods.

During the three months ended September 30, 2026 and 2025, the Group recognized no impairment related to

unproved natural gas properties (in thousands).

	Natural gas properties
	EP 161	EP 136	EP 76, 98 and 117	Mako Trough	Total
Balance at July 1, 2026	$29,702	$47,424	$728,296	$1,614	$807,036
Capital expenditure	6,060	170	67,048	—	73,278
Transfer of equipment	—	(2,540)	2,540	—	—
Restoration assets	4	—	50	—	54
Interest on finance lease liability and related depreciation of ROU assets capitalized	—	—	2,876	—	2,876
Government grants	—	—	(2,105)	—	(2,105)
Effect of changes in foreign exchange rates	291	620	8,121	—	9,032
Balance at September 30, 2026	$36,057	$45,674	$806,826	$1,614	$890,171

Proceeds from the sale of natural gas generated during the commissioning phase of the Pilot Project are recognized

as a reduction to the cost basis of unproved properties until these assets are declared proved reserves and placed in service.

During the three months ended September 30, 2026, the Group recognized $2.8 million of net proceeds from these sales, as

a reduction to the cost basis of the unproved properties.

Property, Plant and Equipment

The Group held property, plant and equipment, including land and leasehold improvements, as of September 30,

2026 and June 30, 2026, amounting to $1.1 million and $0.7 million, respectively.

Assets Under Construction

Construction of the SPCF has been completed and commissioning of the facility commenced on August 26, 2026.

The Group held total assets under construction related to the SPCF as of September 30, 2026 and June 30, 2026 of $89.1

million and $72.3 million, respectively. These costs of construction include $2.8 million of capitalized borrowing costs for

the three months ended September 30, 2026. Refer to Note 6 for additional discussion.

The SPCF, with capacity of approximately 50 TJ/d and contracted volumes of 40 TJ/d (approximately 41 MMcf/d) is

connected to the Amadeus Gas Pipeline (“AGP”) via the 37-kilometer (23-mile) Sturt Plateau Pipeline (“SPP”), which

achieved practical completion on July 17, 2026.