Note 27. Events after the reporting period On 21 August 2025, the Company announced that it had received binding firm commitments to raise approximately $7 million before costs via a placement. The placement involves issuance of 411,764,706 new Fully Paid Ordinary shares at $0.017 per share (Placement Shares), representing a 22.7% discount to the Company’s last closing share price on 18 August 2025. Each Placement Share is accompanied by one Attaching Option exercisable at $0.02 and expiring one year from the date of issue. Additionally, for every two Attaching Options exercised, the Option holder will receive one Bonus Option exercisable at $0.03 and expiring three years from the date of issue. Proceeds from the Placement will be applied towards the Company’s share of drilling costs for the Amistad-2 production well and for general corporate purposes. On 21 August 2025, the Company provided an operational update on Block 9 PSC, onshore Cuba. Rig mobilisation has commenced for the drilling of the Amistad-2 production well, with a projected spud date in mid-September and results expected by mid-October. Permitting and civil works have been completed for the Amistad-3 production well. Meanwhile, Alameda-2 continues to produce oil from the Unit 1B formation, with over 30,000 barrels currently in inventory. Additionally, permitting is well advanced for the drilling of further shallow production wells scheduled for 2026. On 26 August 2025, the Company advised that the National Offshore Petroleum Titles Administrator (NOPTA) had approved a variation of the minimum work requirements for Permit Year 4 of petroleum exploration permits WA-544-P and NT/P87 (Permits) granted to the Company in 2020 (Melbana 100%). The Permits are in the Joseph Bonaparte Gulf offshore northern Australia. On 27 August 2025, the Company announced the quotation of 411,764,704 Fully Paid Ordinary shares on the ASX following the successful completion of a $7 million placement (before costs). Proceeds from the Placement will be applied towards the Company’s share of drilling costs for the Amistad-2 production well and for general corporate purposes. On 3 September 2025, Riddhi Group of Hotels Pty Ltd. announced it had become a substantial holder of the Company with effect from 27 August 2025, holding 206,280,145 Fully Paid Ordinary Shares and 5.45% voting power. On 16 September 2025, the Company announced that the Extraordinary General Meeting of Shareholders will be held as a virtual meeting via an online meeting platform at 16:00 (AEDT) on Wednesday, 15 October 2025. On 19 September 2025, the Company advised that drilling of the Amistad-2 production well commenced on 18 September 2025 (Cuba time) and is planned to reach a total measured depth (MD) of 1,125 metres. On 19 September 2025, the Company announced an addendum to the Notice of Extraordinary General Meeting dated 16 September 2025 to align the terms of the Joint Lead Manager (JLM) options with the attaching options to be considered at the Extraordinary General Meeting on 15 October 2025. Note 28. Reconciliation of profit/(loss) after income tax to net cash used in operating activities 30-June-25 $ 30-June-24 $ Profit/(Loss) after income tax expense for the year (4,151,446) 3,259,760 Adjustments for: Non-Operating activity income (235,468) – Depreciation and amortisation 5,892 135,476 Share-based payments 281,218 552,807 Foreign exchange differences 329,559 98,692 Change in operating assets and liabilities Decrease/(increase) in other receivables 100,232 (3,880,430) Decrease/(increase) in prepayments 5,676 (506,062) Decrease in trade and other payables (302,468) (3,677,989) Increase in provisions 343,185 346,785 Net cash used in operating activities (3,623,620) (3,670,961) 71 Melbana Energy Limited Annual Report 2025
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