Note 5. Other income 30-June-25 $ 30-June-24 $ Disposal of out of specification material 63,597 – Operator’s indirect expenses charge – 1,038,019 Operator charges to Joint Operating Partner – no fault cost overrun recovery – 6,856,227 Other income 63,597 7,894,246 Other income is recognised when it is received or when the right to receive payment is established. Note 6. Finance costs 30-June-25 $ 30-June-24 $ Bank’s fees 143,102 356,406 Finance Costs 143,102 356,406 Note 7. Income tax expense 30-June-25 $ 30-June-24 $ Numerical reconciliation of income tax expense and tax at statutory rate Loss before income tax expense (4,151,446) 3,259,760 Tax at the statutory tax rate of 25% (1,037,861) 814,940 Tax effect amounts which are not deductible/(taxable) in calculating taxable income: Non-assessable non-exempt income – – Other non-deductible expenditure – – (1,037,861) 814,940 Tax losses not brought to account 1,037,861 – Utilisation of prior year tax losses not brought to account – (814,940) Interest tax expense – – Tax losses not recognised – – Unused tax losses for which no deferred tax asset has been recognised 184,998,408 183,960,547 Potential tax benefit @ 25% 46,249,602 45,990,137 The above potential tax benefit for tax losses has not been recognised in the statement of financial position. These tax losses can only be utilised in the future if the continuity of ownership test is passed, or failing that, the same business test is passed. 59 Melbana Energy Limited Annual Report 2025
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