Ann: Consolidated Financial Statements Year Ended 30 June 2020, page-2

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Subject to the employee or director remaining in the employment of the Company, the performance rights granted
during the year will vest when at least 500PJ of 2P reserves are booked on or before 30 November 2020.
The 2019 exploration program included three additional lateral wells which were drilled successfully at the Glenaras
Pilot and have been brought online with the de-watering process ongoing. An externally certified reserves booking will
be possible following the commencement of commercial gas flow rates. The progress of gas flow rates from these wells
and from further drilling will be known over future months. The potential exists for a reserves booking by the end of
November 2020 and as such there exists the potential for an exercise date for the performance rights of 30 November
2020.