Ann: Proposed issue of securities - COI, page-10

The following is from the Auditor's Review by PWC attached to the COI half yearly announcement on 11th March 2022...

Material uncertainty relating to going concern
"We draw attention to Note 4 in the half-year financial report, which describes that under an agreement
with CleanCo Queensland Limited (CleanCo), contract terms exist whereby a cash payment of
approximately $23.2 million may become payable by 30 July 2022. In addition, the Group will require
additional funding for its ongoing commitments to continue its normal business operations, including
the progression of its Mahalo Gas Hub permits and Galilee permits.
The ability of the Group to continue to adopt the going concern assumption will depend upon a
number of matters including securing a gas supply agreement with CleanCo and/or the successful
raising of necessary funding through debt, equity, selldown or farm-out of the Group’s tenements to
meet these commitments as they arise. These conditions, along with other matters set forth in Note 4,
indicate that a material uncertainty exists that may cast significant doubt on the Group’s ability to
continue as a going concern. Our conclusion is not modified in respect of this matter."