Annual Report 2024 1 6 6 Group Company Note 2024 2023 2024 2023 US$’000 US$’000 US$’000 US$’000 Assets Exploration and evaluation assets 3 34,903 25,783 – – Oil and gas properties 4 173,856 208,800 – – Goodwill and intangible assets 5 4,967 19,746 – – Property, plant and equipment 6 2,650 2,118 402 666 Subsidiaries 7 – – 79,023 93,937 Jointly controlled entity 9 – 1,572 – – Other receivables 10 110,352 145,481 – – Non-current assets 326,728 403,500 79,425 94,603 Inventories 11 36,287 33,272 – – Trade and other receivables 10, 38 78,795 52,148 10,174 10,903 Contract assets 12, 38 – 10,264 – – Derivative financial instruments 13 297 – – – Quoted investments 14 12,976 18,600 12,901 18,599 Cash and cash equivalents 15 117,196 95,439 4,281 15,547 Current assets 245,551 209,723 27,356 45,049 Total assets 572,279 613,223 106,781 139,652 Equity Share capital 16 89,581 89,581 89,581 89,581 Reserves 17 4,142 2,197 1,082 1,082 (Accumulated losses)/ Retained earnings (31,327) 13,733 (7,865) 171 Equity attributable to owners of the Company 62,396 105,511 82,798 90,834 Non-controlling interests 8 1,568 9,256 – – Total equity 63,964 114,767 82,798 90,834 Liabilities Loans and borrowings 19 142,083 64,263 – – Provisions 20 208,326 215,660 – – Lease liabilities 21 1,146 621 17 221 Deferred tax liabilities 22 49,588 84,701 – – Non-current liabilities 401,143 365,245 17 221 Loans and borrowings 19 – 36,846 – – Bank overdraft 19 – 4,000 – 4,000 Provisions 20 2,088 – – – Lease liabilities 21 646 477 203 282 Trade and other payables 23, 38 55,438 52,475 23,763 44,315 Contract liabilities 12, 38 30,340 39,413 – – Income tax payable 18,660 – – – Current liabilities 107,172 133,211 23,966 48,597 Total liabilities 508,315 498,456 23,983 48,818 Total equity and liabilities 572,279 613,223 106,781 139,652 The accompanying notes form an integral part of these financial statements. STATEMENTS OF FINANCIAL POSITION As at 31 December 2024
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