Cue Energy Resources Limited Notes to the financial statements 30 June 2024 55 Note 19. Shares in subsidiaries Principal place of business Ownership interest Ownership interest Name Country of incorporation 30 June 2024 30 June 2023 % % Cue Mahato Pty Ltd Indonesia/Australia 100.00% 100.00% Cue Mahakam Hilir Pty Ltd Indonesia/Australia 100.00% 100.00% Cue Kalimantan Pte Ltd* Singapore 100.00% 100.00% Cue (Ashmore Cartier) Pty Ltd Australia 100.00% 100.00% Cue Sampang Pty Ltd Indonesia/Australia 100.00% 100.00% Cue Taranaki Pty Ltd New Zealand/Australia 100.00% 100.00% Cue Exploration Pty Ltd Australia 100.00% 100.00% Cue Palm Valley Pty Ltd Australia 100.00% 100.00% Cue Mereenie Pty Ltd Australia 100.00% 100.00% Cue Dingo Pty Ltd Australia 100.00% 100.00% All companies in the Group have a 30 June reporting date. * Shares held by Cue Mahakam Hilir Pty Ltd Note 20. Interests in joint operations Cue Interest Cue Interest Permit expiry Property Operator 2024 (%) 2023 (%) date Indonesia Mahakam Hilir PSC Cue Kalimantan Pte Ltd 100* 100* 15/04/2021 Sampang PSC Medco Energi Sampang Pty Ltd 15 (8.18 Jeruk Field) 15 (8.18 Jeruk Field) 04/12/2027 Mahato PSC Texcal Energy Mahato Inc. 11.25** 12.5 20/07/2042 New Zealand PMP38160 OMV New Zealand Limited 5 5 02/12/2027 Amadeus Basin Mereenie (OL4 and OL5 Production Licences) Central Petroleum 7.5*** 7.5 17/11/2044 Palm Valley (OL3 Production Licence)**** Central Petroleum 15 15 07/11/2045 Dingo (L7 Production Licence) Central Petroleum 15 15 06/07/2039 * Mahakam Hilir PSC exploration permit has expired and regulatory processes for surrender are ongoing as at 30 June 2024. ** During April 2024, the Group had its interest in the Mahato PSC reduced by 10% (from 12.5% to 11.25%) for no consideration in accordance with the Mahato PSC and subsequent Indonesian Government regulations. The Group has accounted for the reduced interest effective from 1 November 2023. *** The Mereenie production license was renewed until 17 November 2044. **** The Palm Valley production license was renewed until 7 November 2045. Accounting policy for joint operations A joint operation is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the assets, and obligations for the liabilities, relating to the arrangement. The consolidated entity has recognised its share of jointly held assets, liabilities, revenues and expenses of joint operations. These have been incorporated in the financial statements under the appropriate classifications. 69 Cue Energy Resources Limited Annual Report 2024
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