Note 24. Related party transactions Parent entity Melbana Energy Limited is the parent entity. Subsidiaries Interests in subsidiaries are set out in Note 26. Key management personnel Disclosures relating to key management personnel are set out in Note 21 and the remuneration report included in the Directors’ report. Transactions with related parties None. The following transactions occurred with related parties: 30-June-23 $ 30-June-22 $ Payments for consulting services* 5,750 32,375 Payments for Drilling Supervision Services** 67,924 8,867 73,674 41,242 * Payments for consulting services represent the payments made to Springhead Petroleum Pty Ltd, an entity associated with Mr Peter Stickland. ** Payments for Drilling services were made to Lucas Drilling Pty Ltd a company in which Mr Andrew Purcell is also the Board Chairman. Receivable from and payable to related parties There were no trade receivables from or trade payables to related parties at the current and previous reporting date. Loans to/from related parties There were no loans from or loans to related parties at the current and previous reporting date. Terms and conditions All transactions were made on normal commercial terms and conditions and at market rates. Note 25. Parent entity information Set out below is the supplementary information about the parent entity. Statement of profit or loss and other comprehensive income 30-June-23 $ 30-June-22 $ Loss after income tax (1,140,487) (6,717,952) Total comprehensive income (1,140,487) (6,717,952) 59 Melbana Energy Limited Annual Report 2023
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