Cue Energy Resources Limited Notes to the financial statements 30 June 2024 56 Note 21. Events after the reporting period On 23 July 2024, the Palm Valley production license was renewed for 21 years commencing on 7 November 2024. On 29 July 2024, a long-term Gas Sales Agreement with the Northern Territory Government was signed for Mereenie and Palm Valley fields. On 15 August 2024, the Mereenie Joint Venture approved the drilling of two new development wells. On 23 August 2024, the Company’s Board of Directors approved the declaration of a final dividend distribution of $0.01 (1 cent) per fully paid ordinary share, totalling $7 million. This final dividend distribution was declared as a Conduit Foreign Income (CFI), unfranked final dividend and was paid on 26 September 2024. No other matter or circumstance has arisen since 30 June 2024 that has significantly affected, or may significantly affect the Consolidated Entity's operations, the results of those operations, or the Consolidated Entity's state of affairs in future financial years. Note 22. Reconciliation of profit after income tax to net cash from operating activities Consolidated 30 June 2024 30 June 2023 $'000 $'000 Profit after income tax expense for the year 14,189 15,211 Adjustments for: Share-based payments 112 96 Finance costs associated with abandonment provision 684 1,703 Exploration expenses - 913 Depreciation 91 94 Amortisation 6,309 6,005 Net gain on foreign currency conversion 501 879 Change in operating assets and liabilities: Decrease/(increase) in trade and other receivables 2,688 (3,918) Decrease/(increase) in contract assets 5,118 (3,282) Decrease/(increase) in inventories (1,239) 56 Decrease/(increase) in deferred tax assets 49 (5,362) Decrease in trade and other payables (945) (721) Decrease in contract liabilities (1,315) (1,271) (Decrease)/Increase in tax liabilities (958) 1,332 Increase/(decrease) in deferred tax liabilities 1,649 880 Increase/(decrease) in provisions 10 38 Net cash from operating activities 26,943 12,653 Note 23. Earnings per share Consolidated 30 June 2024 30 June 2023 $'000 $'000 Profit after income tax attributable to the owners of Cue Energy Resources Limited 14,189 15,211 Number Number Weighted average number of ordinary shares used in calculating basic earnings per share 698,194,450 698,119,720 Weighted average number of ordinary shares used in calculating diluted earnings per share 698,194,450 698,119,720 70 Cue Energy Resources Limited Annual Report 2024
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