Note 13. Exploration and evaluation (continued) Significant judgement is required in assessing whether future economic benefits are likely to be derived from capitalised exploration and evaluation expenditure and whether any indicators of impairment exist. At 30 June 2026, the Directors assessed each area of interest separately, having regard to tenure, exploration results, planned and budgeted activities, funding and other commercial considerations. For each area of interest other than Cuba Block 9 where costs continue to be carried forward, the Directors concluded that the relevant capitalisation criteria remained satisfied and no impairment indicators were identified. Cuba Block 9 was assessed separately. Impairment indicators were identified arising from the suspension of operations, the joint operation partner’s funding default, operational and regulatory constraints and uncertainty over the timing and funding of further appraisal and development activities. Although the Consolidated Entity retains its interest in Block 9 and all current work commitments have been satisfied, there was no funded work program or current commitment to undertake further appraisal or development at the reporting date. The Directors assessed the recoverable amount of the Block 9 exploration and evaluation asset as nil and fully impaired its carrying amount at 30 June 2026. Note 14. Trade and other payables Refer to Note 20 for further information. 30-June-26 $ 30-June-25 $ Current liabilities Accounts payables 11,481,048 2,340,179 Other payables 3,377,026 3,389,139 Trade and other payables 14,858,074 5,729,318 Note 15. Provisions 30-June-26 $ 30-June-25 $ Current liabilities Bonus – 200,000 Annual leave 180,888 384,638 Personal leave 173,115 191,680 Long service leave 307,704 325,287 Provisions 661,707 1,101,605 Note 16. Receivables from former joint operating partner 30-June-26 $ 30-June-25 $ Current assets Receivables from former joint operating partner 34,788,608 12,897,075 Less: Allowance for cash calls receivables Block 9 (12,134,433) – Receivables from former joint operating partner17 22,654,175 12,897,075 Current liabilities Contract liabilities – 17,410,351 17 The receivables from former joint operations are assessed in accordance with AASB 9 for measuring the expected credit losses. 65 Melbana Energy Limited Annual Report 2026
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