Key Petroleum Limited’s FY2021–FY2025 financial record reflects a transition from Perth Basin interests toward the Cooper Eromanga Basin. Statutory losses, a disposal-driven FY2023 profit, persistent operating cash outflows, equity funding and exploration accounting are kept on their respective bases.
Reading the figures: Units are stated above each table or beside the metric. Brackets denote negative amounts. Supported nil is shown as zero; unlike reporting bases remain separately labelled.
Consolidated closing cash and cash equivalents.
Reported loss for the year.
Net operating cash outflow.
Capitalised exploration carrying amount.
Outstanding exploration commitments.
The selected annual reports cover years ended 30 June. The Group’s principal activity was acquiring petroleum permits and exploring them to identify economic oil and gas reserves; the available records do not establish a comparable five-year production or sales series.
The FY2023 statutory profit of A$0.350m followed a A$1.001m net gain on sale of subsidiaries. It is therefore retained as the reported statutory result, but is not read as evidence of a recurring operating earnings trend.
Cash ended FY2025 at A$0.094m on the consolidated statement of financial position. The supplied record also contains a A$0.099m interest-rate-risk disclosure for cash; the different disclosed basis is retained as a boundary rather than overwriting the statement balance.
Key completed the WA-481-P sale and recorded A$2.163m of exploration-cost impairment in connection with the disposal-group assessment. The annual report also identified a material going-concern uncertainty if planned funding measures were not achieved.
The Cooper-Eromanga permits received Project Status, allowing work-program and relinquishment requirements to be allocated across the ATPs, while the EP 437/L7 sale process remained subject to title-transfer approval.
The Group reported A$1.001m net gain on sale of subsidiaries, the principal disclosed comparability driver behind the FY2023 statutory profit. Capitalised exploration costs related to the Cooper Eromanga Basin Project.
New exclusion zones affected parts of ATP 920 and ATP 924. The Group recognised A$0.336m impairment against the Cooper Eromanga Basin carrying value as a result of expected future restrictions.
PCA applications for ATP 920 and ATP 924 were described as being at decision stage. After balance date, a placement raised A$0.152m for working capital and corporate-development preparation; it is not included in FY2025 measured balances or cash flows.
Losses were reported in FY2021, FY2022, FY2024 and FY2025. FY2021 included A$2.163m exploration-cost impairment and A$0.158m plant-and-equipment impairment associated with the disposal-group assessment; a A$0.525m fair-value gain on financial assets partly offset those charges. The FY2024 loss included A$0.336m exploration impairment; that charge was nil in FY2025.
The selected income-statement cost lines show lower corporate expenditure and administration costs in FY2025 than FY2024, while salaries and employee benefits increased. These lines provide context for the statutory loss but do not replace the complete statutory result.
The FY2023 disposal bridge distinguishes the A$1.001m accounting gain from A$0.599m cash proceeds net of cash disposed. The A$0.500m consideration shares are non-cash consideration, so the gain must not be described as an equal cash inflow.
A$ million
AI-generated presentation · values from Statutory result and selected recurring cost drivers; no missing values plotted as zero.
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Profit/(loss) for the year | (2.234) | (1.222) | 0.350 | (0.961) | (0.484) |
| Salaries and employee benefits expense | (0.328) | (0.186) | (0.179) | (0.141) | (0.195) |
| Corporate expenditure | (0.065) | (0.262) | (0.336) | (0.332) | (0.185) |
| Administration costs | (0.412) | (0.219) | (0.175) | (0.178) | (0.106) |
Consolidated statutory amounts. Parentheses are expenses or losses.
The cost-driver rows are individual income-statement lines; they are not cash-flow add-backs and do not sum to the statutory result.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
A$ million
| Metric | FY2023 |
|---|---|
| Cash consideration | 0.600 |
| Consideration shares | 0.500 |
| Total disposal consideration | 1.100 |
| Carrying amount of net assets disposed | (0.099) |
| Gain on sale before income tax | 1.001 |
| Cash proceeds, net of cash disposed | 0.599 |
The gain is an income-statement result of the disposal. Net cash proceeds are a distinct investing-cash-flow measure and exclude the A$0.500m non-cash consideration shares.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
Operating cash flow was negative in every selected year. Net investing cash inflows through FY2024 should be read in the portfolio-transition context: FY2021–FY2023 include permit/farm-out or financial-asset sale receipts, whereas FY2025 investing cash flow was a A$0.114m outflow, matching the reported petroleum-interest expenditure.
FY2024 and FY2025 financing inflows were principally supported by share issues, with separately identified transaction costs. In FY2023 the Group had an unsecured A$0.250m related-party facility; its cash-flow statement reports A$0.150m borrowing proceeds and A$0.250m repayments. The FY2025 audit opinion was unqualified, while the auditor separately identified a material uncertainty related to going concern.
A$ million
AI-generated presentation · values from Consolidated financial position at 30 June; no missing values plotted as zero.
A$ million
AI-generated presentation · values from Consolidated net cash flows by activity; no missing values plotted as zero.
A$ million
AI-generated presentation · values from Consolidated financial position at 30 June; no missing values plotted as zero.
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 0.046 | 0.040 | 0.345 | 0.172 | 0.094 |
| Total assets | 3.539 | 2.163 | 2.196 | 1.511 | 1.586 |
| Total liabilities | 0.782 | 0.628 | 0.310 | 0.295 | 0.514 |
| Total equity | 2.757 | 1.535 | 1.885 | 1.216 | 1.072 |
Consolidated Group financial-position amounts at 30 June. Cash is a closing balance, not a funding forecast.
FY2025 cash is the A$0.094m statement-of-financial-position amount. A separate interest-rate-risk disclosure reports A$0.099m and is not substituted into this series.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Net operating cash flow | (1.227) | (0.766) | (0.644) | (0.703) | (0.304) |
| Net investing cash flow | 0.456 | 0.862 | 1.051 | 0.238 | (0.114) |
| Net financing cash flow | 0.174 | (0.102) | (0.102) | 0.292 | 0.340 |
Consolidated statement-of-cash-flow subtotals. Parentheses are cash outflows.
Investing inflows in FY2021–FY2024 include portfolio or financial-asset sale activity; they are not operating revenue. FY2025 investing cash flow was an outflow.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
A$ million
| Metric | FY2024 | FY2025 |
|---|---|---|
| Proceeds from issue of shares | 0.295 | 0.384 |
| Share issue transaction costs | (0.003) | (0.044) |
FY2024–FY2025 only. The five-year cash-flow table separately retains the net-financing subtotal.
The A$0.152m placement described after 30 June 2025 is a subsequent event and is excluded from FY2025 closing cash and this annual financing table.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
The consolidated exploration and evaluation carrying amount was A$1.346m at FY2021 after the disposal-group impairment, rose through FY2023, then fell in FY2024 after the Lake Eyre-related impairment before increasing to A$1.418m in FY2025 following A$0.154m current-year additions. Carrying amount and annual additions are shown separately because they answer different accounting questions.
The FY2025 A$4.341m outstanding exploration commitments included A$4.105m due later than one year but not later than five years. Ultimate recoupment of the carrying amount was stated to depend on successful development and commercial exploitation or sale of the petroleum interests.
A$ million
AI-generated presentation · values from Consolidated exploration and evaluation carrying amount; no missing values plotted as zero.
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AI-generated presentation · values from Outstanding exploration commitments; no missing values plotted as zero.
A$ million
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Capitalised exploration and evaluation costs | 1.346 | 1.431 | 1.542 | 1.264 | 1.418 |
| Additions to exploration and evaluation costs | 0.262 | 0.085 | 0.111 | 0.058 | 0.154 |
The first row is the consolidated carrying amount at each balance date. The second is an annual movement, not a closing balance.
These accounting measures are not reserves, production, a project valuation or a measure of annual exploration cash flow.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
A$ million
| Metric | FY2024 | FY2025 |
|---|---|---|
| Total outstanding exploration commitments | 4.460 | 4.341 |
FY2024–FY2025 disclosed contractual/minimum expenditure commitments. They are neither recognised operating expenses nor a forecast of exploration cash spending.
Source: Annual-report extractions; report editions are listed once in the consolidated source registry.
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