Rex International Holding Limited 199 NOTES TO THE FINANCIAL STATEMENTS 4 OIL AND GAS PROPERTIES (CONTINUED) Financial year ended 31 December 2024 (continued) Acquisition of additional 15% interest in producing Yme Field (continued) Details of the consideration, the assets acquired and liabilities assumed, and the effects on the cash flows of the Group, at the acquisition date, were as follows: (a) Consideration 2024 US$’000 Agreed purchase price (15,700) Adjustment for positive cash flow from asset between 1 January and 29 November 2024 33,426 Cash consideration received, recognised in the consolidated statement of cash flows 17,726 Cash consideration receivable (1) 402 Total cash consideration 18,128 (1) Received in February 2025. (b) Acquisition-related costs The Group incurred acquisition-related costs of US$64,000. These costs were included in ‘administrative expenses’ in the consolidated statement of comprehensive income. (c) Fair value of identifiable assets acquired and liabilities assumed The following table summarises the recognised amounts of assets acquired and liabilities assumed at the date of the acquisition. 2024 Note US$’000 Oil and gas properties 4 12,884 Inventories 4,959 Trade and other receivables 3,578 Decommissioning provisions 19 (37,291) Deferred tax assets 21 26,189 Trade and other payables (4,431) Income tax payable (21,886) Total net identifiable liabilities (15,998)
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