For personal use only

Rule 5.5

Appendix 5B

Mining exploration entity or oil and gas exploration entity

quarterly cash flow report

Name of entity

NuEnergy Gas Limited

ABN

Quarter ended ("current quarter")

50 009 126 238

31 Dec 2021

Consolidated statement of cash flows

Current quarter

Year to date

$A'000

(Six months)

$A'000

1.

Cash flows from operating activities

1.1

Receipts from customers

-

-

1.2

Payments for

(a)

exploration & evaluation (if expensed)

-

-

(b)

development

-

-

(c)

production

-

-

(d)

staff costs

-

-

(e)

administration and corporate costs

(615)

(671)

1.3

Dividends received (see note 3)

-

-

1.4

Interest received

-

-

1.5

Interest and other costs of finance paid

-

-

1.6

Income taxes paid

-

-

1.7

Government grants and tax incentives

-

-

1.8

Other (provide details if material)

-

(5)

1.9

Net cash from / (used in) operating

(615)

(676)

activities

2.

Cash flows from investing activities

2.1

Payments to acquire:

(a)

entities

-

-

(b)

tenements

-

-

(c)

property, plant and equipment

-

-

(d)

exploration & evaluation (if capitalised)

(144)

(330)

(e)

investments

-

-

(f)

other non-current assets

-

-

ASX Listing Rules Appendix 5B (01/12/19)

Page 1

+ See chapter 19 of the ASX Listing Rules for defined terms.

Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report

personal use only

Consolidated statement of cash flows

Current quarter

Year to date

$A'000

(Six months)

$A'000

2.2

Proceeds from the disposal of:

(a)

entities

-

-

(b)

tenements

-

-

(c)

property, plant and equipment

-

-

(d)

investments

1,389

2,206

(e)

other non-current assets

-

-

2.3

Cash flows from loans to other entities

-

-

2.4

Dividends received (see note 3)

-

-

2.5

Other (provide details if material)

-

-

2.6

Net cash from / (used in) investing

1,245

1,876

activities

3.

Cash flows from financing activities

3.1

Proceeds from issues of equity securities

-

-

(excluding convertible debt securities)

3.2

Proceeds from issue of convertible debt

-

-

securities

3.3

Proceeds from exercise of options

-

-

3.4

Transaction costs related to issues of equity

-

-

securities or convertible debt securities

3.5

Proceeds from borrowings

-

-

3.6

Repayment of borrowings

-

-

3.7

Transaction costs related to loans and

-

-

borrowings

3.8

Dividends paid

-

-

3.9

Other (provide details if material)

-

-

3.10

Net cash from / (used in) financing

-

-

activities

For

4. Net increase / (decrease) in cash and cash equivalents for the period

  1. Cash and cash equivalents at beginning of period
  2. Net cash from / (used in) operating activities (item 1.9 above)

2,371

1,712

(615)

(676)

4.3

Net cash from / (used in) investing activities

1,245

1,876

(item 2.6 above)

4.4

Net cash from / (used in) financing activities

-

-

(item 3.10 above)

ASX Listing Rules Appendix 5B (01/12/19)

Page 2

+ See chapter 19 of the ASX Listing Rules for defined terms.

Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report

only

Consolidated statement of cash flows

  1. Effect of movement in exchange rates on cash held
  2. Cash and cash equivalents at end of period

Current quarter

Year to date

$A'000

(Six months)

$A'000

(4)

85

2,997

2,997

For personal use

5.

Reconciliation of cash and cash

Current quarter

Previous quarter

equivalents

$A'000

$A'000

at the end of the quarter (as shown in the

consolidated statement of cash flows) to the

related items in the accounts

5.1

Bank balances

2,997

2,371

5.2

Call deposits

-

-

5.3

Bank overdrafts

-

-

5.4

Other (provide details)

-

-

5.5

Cash and cash equivalents at end of

2,997

2,371

quarter (should equal item 4.6 above)

6.

Payments to related parties of the entity and their

Current quarter

associates

$A'000

6.1

Aggregate amount of payments to related parties and their

-

associates included in item 1

6.2

Aggregate amount of payments to related parties and their

-

associates included in item 2

Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments

ASX Listing Rules Appendix 5B (01/12/19)

Page 3

+ See chapter 19 of the ASX Listing Rules for defined terms.

Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report

only

7. Financing facilities

Note: the term "facility' includes all forms of financing arrangements available to the entity.

Add notes as necessary for an understanding of the sources of finance available to the entity.

  1. Loan facilities
  2. Credit standby arrangements
  3. Other (please specify)
  4. Total financing facilities

Total facility

Amount drawn at

amount at quarter

quarter end

end

$A'000

$A'000

3,144

3,144

-

-

-

-

3,144

3,144

For personal use

7.5

Unused financing facilities available at quarter end

-

7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well.

NuEnergy has loan agreement with PT Indotech Metal Nusantara ("PTI"), a subsidiary of the ultimate parent company, Globaltec Formation Berhad of IDR8,161,450,000 ($A838,601) to fund part of the coal bed methane planned exploration activities. The loan was fully drawn at the end of the quarter.

The conditions of the loan agreement with PTI are:-

  1. Unsecured and repayable on demand*;
  2. Loan shall be utilised for the drilling activities of the Production Sharing Contracts; and
  3. Interest charge at 10% per annum on the outstanding loan and calculated on a daily and non- compounding basis and to be serviced/repaid quarterly.

NuEnergy has loan agreements with AIC Corporation Sdn Bhd ("AICC"), a subsidiary of the ultimate parent company, Globaltec Formation Berhad totalling A$2,305,498 to fund part of the coal bed methane planned exploration activities and/or working capital. The loans were fully drawn at the end of the quarter.

The conditions of the loan agreements with AICC are:-

  1. Unsecured and repayable on demand*;
  2. Loan shall be utilised for the drilling activities of the Production Sharing Contracts; and
  3. Interest charge at 10% per annum on the outstanding loan and calculated on a daily and non- compounding basis and to be serviced/repaid quarterly.
  • The loans from PTI and AICC will be repaid by NuEnergy in first priority as soon as any future capital raising has been completed or on demand following the completion of the capital raising and the receipt of funds sufficient to meet the demand.

ASX Listing Rules Appendix 5B (01/12/19)

Page 4

+ See chapter 19 of the ASX Listing Rules for defined terms.

For personal use only

Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report

8.

Estimated cash available for future operating activities

$A'000

8.1

Net cash from / (used in) operating activities (Item 1.9)

(615)

8.2

Capitalised exploration & evaluation (Item 2.1(d))

(144)

8.3

Total relevant outgoings (Item 8.1 + Item 8.2)

(759)

8.4

Cash and cash equivalents at quarter end (Item 4.6)

2,997

8.5

Unused finance facilities available at quarter end (Item 7.5)

-

8.6

Total available funding (Item 8.4 + Item 8.5)

2,997

8.7

Estimated quarters of funding available (Item 8.6 divided by

3.94

Item 8.3)

8.8 If Item 8.7 is less than 2 quarters, please provide answers to the following questions:

1. Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?

Answer:

2. Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?

Answer:

3. Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?

Answer:

Compliance statement

  1. This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
  2. This statement gives a true and fair view of the matters disclosed.

31 January 2022

Date:...................................................................................

NGY Board of Directors

Authorised by: ...................................................................................

(Name of body or officer authorising release - see note 4)

Notes

  1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity's activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.
  2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, t he definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report .

ASX Listing Rules Appendix 5B (01/12/19)

Page 5

+ See chapter 19 of the ASX Listing Rules for defined terms.

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NuEnergy Gas Limited published this content on 31 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 January 2022 01:00:02 UTC.