Good morning, ladies and gentlemen. I'm Ryan Stokes, Chairman of Beach Energy. I declare the 2024 Beach Energy Annual General Meeting open, and I can confirm a quorum is present. I'll begin with some housekeeping matters. If you haven't already done so, could you please turn your mobile phones to silent? In the unlikely event of an emergency, please follow the instructions from Convention Centre staff who will guide us to the safe assembly point. Unauthorized recording of photography during the course of this meeting is prohibited. Lastly, today's AGM is being webcast, and a recording will be available on the Beach website after the meeting. Welcome to our shareholders who are viewing today via the webcast. Our compliance statements are set out on slide two of today's presentation for those of you who wish to review them later. Today, I'm joined by Brett Woods, our MD and CEO, who will address you shortly, along with fellow directors Peter Moore, Sally-Anne Layman, Bruce Clement, Sally Martin, and Richard Richards. Lindsay Carr from our auditor, EY, is also in attendance and is available for questions in relation to the 2024 financial accounts and remuneration report. We received several questions from shareholders in advance of the meeting, which I will address later during the formal items of business. This time last year, I spoke to the board and leadership changes that were underway at Beach, and I'm pleased to provide an update on the strong progress we have made over the past year. Our board has achieved greater diversification of backgrounds and experience with the appointment of Sally Martin and Brett Woods. Sally joined in March and brought extensive experience from a 34-year career at Shell. Sally is an engineer with deep experience in ESG and energy transition strategy development. Sally offers herself for election to the board today. Our CEO, Brett Woods, was also appointed to the board. Brett's more than 25 years of experience in upstream oil and gas means his insights and recommendations to the board are invaluable, particularly with regard to the progress and execution of our major projects. In terms of leadership, the vigor with which Brett has pursued change at Beach is clearly evident. Earlier this year, Brett undertook a whole-of-organization review, which culminated in a refreshed strategy endorsed by your board. Key changes have included a new organizational structure, a refreshed executive leadership team, and a strict financial target to return Beach to our roots as a low-cost, disciplined operator. Finally, I'm honored to have the support of the board with a recent endorsement of me as Chairman of Beach. I'm truly excited by Beach's prospects for growth and the increasingly important role that we play in providing transitional energy for Australia's future. Turning to our refreshed strategy, I'm confident that Beach is now on the right trajectory for realizing, reaching, and realizing its potential. The refreshed strategy communicated in June sets the framework for achieving our vision of becoming Australia's leading domestic energy company. We'll do this by focusing on three strategic pillars: core hubs. It recognizes Beach's established and enviable portfolio of strategically valuable infrastructure servicing east and west coast markets. We'll focus on these core hubs to optimize our assets as we grow our share of supply of gas to the Australian market. High margins instill an owner's mindset into our day-to-day operations and our capital allocation decisions. Low-cost operations and pursuing the highest value for our molecules underpin this pillar. We are focused on building the disciplined execution required to effectively unlock full potential of our assets. Sustainable growth captures our intent to lengthen the duration of our portfolio and to deliver sustainable value creation for our shareholders. Our strategic focus on value over volume, emissions reduction targets, and Climate Transition Action Plan underpin this pillar. Ultimately, our objective is to deliver higher returns for shareholders through disciplined operations and capital allocation. Our capital management framework supports this objective and sets out the parameters to maintain a strong balance sheet, deliver disciplined growth, and increase dividends to shareholders as our cash flow increases. Before I move on, it will be remiss of me not to mention the strong progress made on our organic growth opportunities this year, as well as acknowledging some of the disappointments. Clear highlights from the past year include completing the offshore Otway development campaign, with the final two wells recently connected to the Otway Gas Plant. Completing the Enterprise development, which has delivered a new gas supply source from the nearshore Otway, underpinning a 24% increase in our first quarter production from the basin. Successfully commissioning the Moomba CCS project, a nationally significant project which will abate roughly a third of Beach's current equity emissions, and upholding a strong financial position through this period of major project delivery, with dividends maintained and net gearing below our target of 15%. We did, however, have some challenges, including subsurface outcomes in New Zealand and at Enterprise, and the contractor's performance to date in the construction of the Waitsia Gas Plant. Importantly, Beach has learned from these issues, which has been integrated into our revised strategy to improve performance going forward. The creation of the Board Technical Committee will provide dedicated focus on these issues and draw on the deep technical experience of directors. In addition, with Beach's support, the Waitsia joint venture is increasing representation and control of specific commissioning scopes of the work at Waitsia. Our objective is to support more disciplined project execution through the final commissioning phase. My message last year was that a supportive regulatory environment in Australia is critical for much-needed investment in our industry. Without an appropriate and stable regulatory framework, it is inevitable that we would see increasing power bills, energy shortfalls, and an uncertain transition to variable renewable energy sources. It has been pleasing to see some progress made on this front over the past year, as well as a positive shift in sentiment towards the importance of natural gas as a transitional energy source. We welcome the federal government's Future Gas Strategy, released earlier this year, which recognizes the critical role of natural gas in Australia's energy security in a net-zero economy to 2050 and beyond. The policy highlights the necessity of continued investment in new gas supply and underscores the gas industry's central role in the energy transition. The federal government also awarded gas exploration permits in the waters of Victoria and Tasmania. This is an encouraging step toward increasing supply, but one which requires significant capital investment and lengthy approval processes to bring new gas to market. In Victoria, we saw the government introduce legislation to permit underground gas storage in depleted nearshore reservoirs and move to allow households to continue cooking with gas if they choose. A joint authority comprising the federal and state ministers recently granted two new production licenses for Beach Offshore Victoria, albeit one will not be online until later this decade and is subject to approvals and a final investment decision. While this initial progress is encouraging, there are still many challenges to be addressed and significant headwinds faced by our industry. The Australian Energy Market Operator continues to flag energy shortfalls and a potential blackout on the East Coast as soon as next year. On the West Coast, the retirement of coal-fired power generation, coupled with forecast new industrial demand, is expected to create a supply deficit into the 2030s. Gas projects continue to experience extensive and costly delays in the environmental plan approval process. The ambiguity and complexity of these processes have left them open to lawfare by a minority of activists with extreme views, which pose a major risk to new project and stymie investment decisions. We are constantly battling ideological rhetoric, which is having detrimental effects on communities, economies, and gas supply. We do not have to look far to see the folly of abandoning achievable and realistic action for ideological motives. Unfortunately for New Zealand, having banned offshore natural gas exploration in 2018 and with onerous obstacles placed in the way of new investment, instead of relying on its resources of natural gas, New Zealand has needed to import a stockpile of coal to firm renewables. The energy transition is complex. We must manage a shift towards greater reliance on renewables with care and consideration. Integrating more variable renewable energy into an electrical grid that was designed to match highly predictable demand with reliable dispatchable power requires careful consideration and planning. Crucially, it also requires a dispatchable energy source to stabilize the grid when renewable generation is low. Gas is ideal to play this firming role, given its high dispatchability and existing architecture in our energy system. Beach is well positioned to support the energy transition and to increase our supply of much-needed energy to Australian communities and industry. We have strategic infrastructure already in place, servicing key East and West Coast markets. Our portfolio offers organic growth opportunities, and our strong balance sheet will enable us to pursue appropriate growth opportunities in a disciplined manner. Lastly, we are a trusted partner for communities and all levels of government, having played a key role in Australia's energy supply for over 60 years. On that note, I'll now hand over to Brett for his address. Thank you. Thank you, Ryan, and welcome everybody. Sorry. This time last year, I was with you in the audience, eagerly awaiting my first day in the role. Since then, and after 10 months with Beach, I'm extremely proud to be standing here reporting on what was an important year for our company. I would like to begin by saying it was an honor to be appointed as the Managing Director and CEO of Beach Energy. Beach is a truly iconic Australian energy company with its pioneering history and exciting future ahead. A future which bears a weight of expectation, as Beach will need to play an increasingly important role in Australia's energy security and decarbonization journey. I am grateful for all the support I've received from the board and our staff and stakeholders during my first 10 months at Beach. So thank you all. As Ryan mentioned, one of my first tasks was to undertake a detailed review across all aspects of the organization. Despite our proud 60-year history, you'll need to be aware that we have been dealing with several challenges in recent years. It became clear to me soon into the role that a full reset of Beach's operating model and strategy was required. The strategic review was our first step in addressing current challenges, rebuilding the trust in the market and earning the right to grow. The outcomes of the review were released on the 18th of June, and if you haven't done so already, I would encourage you to review that presentation. Rolling forward five months, I'm pleased to report that we've made solid progress against these objectives. This slide sets out the milestones achieved to date and our overarching strategic objectives. While we still have a lot more to do, our strict operating principles and capital management framework, which are underpinned by cost and cash flow break-even targets, have established the pathway for returning Beach into a disciplined operator. In doing so, we'll earn the right to grow as we pursue growth and value creation for our shareholders. Turning now to our financial performance for FY24, it's a solid set of results which demonstrates the strength of our underlying business. Production of 18.2 million barrels of oil equivalent was 7% below prior year due to lower customer nominations in the Otway Basin, some delays in project delivery, and weather events in the Cooper Basin and natural field decline. Despite lower production, revenue was up 9% to $1.8 billion, driven in part by our ability to deliver early Waitsia cargos and higher realized oil and gas prices. Our realized gas price for the year was up 8% to $9.50 per gigajoule, thanks to new contracts, repricing of the Otway Basin gas sales agreement, and higher spot prices over the winter. Underlying EBITDA of AUD 950 million was broadly in line with the prior year, and underlying NPAT of AUD 341 million was 11% below prior year. Pre-growth free cash flow was AUD 163 million and allowed the board to declare a final dividend of AUD 0.02 per share, resulting in full-year dividends of AUD 0.04 per share. We ended the year in a strong financial position with AUD 437 million of available liquidity and net gearing of around 15%. Pleasingly, our net gearing reduced in the first quarter of FY25 to 14%, due partly to outcomes from our strategic review initiatives. We also achieved a number of milestones during the year. As I mentioned, completion of the strategic review and implementation of our new organizational structure were important steps for Beach in resetting the base business. In the West, construction of the Waitsia Gas Plant progressed. Although the rate of progress for the contract was well below expectations, I'll speak to a bit more of this shortly. The Waitsia LNG and condensate cargos were great outcomes. Our strategy to mitigate committed LNG processing costs by using surplus gas from Xyris and entering time swaps for third-party gas allowed us to lift two LNG cargos. We also reported that a third LNG cargo was lifted in October, and a fourth one is due to be lifted this month. The Beach-operated Perth Basin drilling program delivered gas discoveries at Redback Deep, Tarantula Deep, and a development well at Beharra Springs Deep. The results are encouraging for potential future drilling in the central fairway. In the Cooper Basin, a 16-well oil and gas exploration and appraisal campaign in the Western Flank was completed, albeit with mixed results. Oil discoveries were made at Bangalee South and Kalladeina North, and successful appraisal drilling was undertaken in the Martlet Field. I remain very confident that there is further exploration potential to pursue in line with our disciplined approach to capital deployment. We hope to have more to say this at our half-year results. In the Otway Basin, the Enterprise development was completed with the nearshore gas field connected to the Otway Gas Plant. We have seen strong production from the field since coming online, which has given the East Coast market an injection of new gas supply at a time when it was desperately needed. Unfortunately, pressure decline over the initial weeks of production indicated a smaller reservoir than what was originally anticipated. This necessitated a downward revision in the gas reserves booked for Enterprise. While extremely disappointing, Enterprise remains a valuable asset within our portfolio and an important new source of gas for the East Coast market. Still in the Otway Basin, we progressed the connection of Thylacine West 1 and 2, the final two wells of the offshore Otway Basin campaign. These wells were successfully connected to the Otway Gas Plant last month and are now flowing gas. Well done to the team and everyone involved in completing the largest ever offshore drilling and development campaign in the Otway Basin. Beach's enhanced offshore capabilities will hold us in good stead as we embark on the next phase of offshore activity. Lastly, the Moomba CCS project reached mechanical completion shortly after year-end, with commissioning and first CO2 injection achieved in September. More on this in a moment. But before I move on, I hope you can sense the underlying theme of my address thus far is our commitment to project delivery and execution. Over the past 10 months, we've delivered Enterprise, Thylacine West, and Moomba CCS while driving material costs and capital out of the business. I'm confident in saying that Beach has taken the initial steps to deliver a sustainable value creation for our shareholders. Turning now to safety and the environment, our personal safety performance this financial year was a story of two halves. In the first half, safety was not where it needed to be, so we promptly initiated the Stand Together for Safety campaign. The campaign included company-wide safety stand-downs, toolbox talks, extra executive leadership site inspections, a special purpose contractor forum, and implementation of new Life Saving Rules. Pleasingly, we did not experience a single recordable injury in the second half of the year. This performance has continued into this financial year. We have now achieved over 11 months recordable injury-free. This is the best safety streak in over a decade at Beach. Plant process safety performance was also very strong throughout the year, with no Tier 1 or Tier 2 Turning now to Moomba CCS, and I feel it's not an exaggeration to say that recent commissioning and ramp-up of the project is a pivotal moment, not just for Beach, but for Australia's emissions reduction journey. For those of you who may not be familiar with the project, Moomba CCS is adjacent to the Moomba Gas Plant in the Cooper Basin in South Australia. The project comprises a four-stage compressor, five injection wells, CO2 dehydration, and a CO2 pipeline. Depleted underground reservoirs in the Strzelecki and Marabooka fields are expected to permanently store up to 13 million tonnes of CO2 to be injected over the life of the project. Moomba CCS can store up to 1.7 million tonnes of CO2 per annum or approximately 4,500 tonnes of CO2 injection per day. This has the potential to safely store all vented reservoir CO2 from the Moomba Gas Plant, which is equivalent to taking approximately 850,000 cars off Australian roads. Moomba CCS plays an important role in Beach's Climate Transition Action Plan, which we released in April. The CTAP outlines our target of reducing Scope 1 and 2 equity emissions intensity by 35% by 2030 and our vision to achieve Net Zero emissions by 2050. Thanks to our significant investment in Moomba CCS, Beach can rightfully be considered industry-leading in terms of decarbonization. I would like to thank all involved in delivering this nationally significant emissions reduction project, including our joint venture partner and operator, Santos. Turning now to recent progress at Waitsia. Earlier this year, we had to revisit our timeline and costs for completion of the Waitsia Gas Plant. The emergence of significant quality and execution issues across the plant was extremely disappointing. In April, we revised our timeline for first gas to early calendar year 2025, and our total capital expenditure estimate of between AUD 600-650 million. Since then, the quality and executions have been addressed. The plant is now effectively constructed, and it is in full commissioning custody control. While this is good news, on-site productivity is still not at a level it should be. In our most recently quarterly report, we announced that 15 senior Beach operations and commissioning specialists will be seconded to support the final stages of this project. This has allowed the Waitsia joint venture to increase representation and control of management and supervision of certain commissioning activities, which in turn gives us more comfort around the productivity and schedule delivery risk. In addition, the on-site workforce is now operating 12-hour shifts, 24 hours a day. With Beach expertise controlling certain commissioning activities, we remain confident in achieving first gas from the plant in early calendar year 2025. Once complete, the Waitsia Gas Plant will be a critical piece of infrastructure to the domestic market. On the commercial front, our team has done a great job in arranging four LNG swap cargos and one condensate cargo prior to start-up. This has allowed us to utilize some of our committed LNG processing costs and recognize revenue and cash flow. In closing, despite the challenges of recent times, the value proposition which attracted me to Beach remains compelling. In fact, the intrinsic value of our portfolio is becoming more evident with continued acceleration of the energy transition and the increasing recognition of the critical role that gas will play. This slide shows why we firmly believe that Beach is uniquely positioned to play an increasingly important role in the gas-supported energy transition. First, we have completed our strategic review, implemented a new organizational structure, and identified material cost savings with more to come. We are resetting our foundation as we position for sustainable growth and earn that right to grow. Second, Beach's exposure to key markets with strong fundamentals will continue for decades to come as the energy transition plays out. Third, our financial position is strong, and we are committed to disciplined capital deployment. Fourth, our outlook for increasing cash flow provides flexibility to balance higher dividends for shareholders in line with our capital management framework, while retaining optionality for growth. Fifth, we have several near and medium-term value catalysts as we deliver current projects and progress organic growth opportunities. Lastly, Moomba CCS will be a major contributor to decarbonization and our sustainability objectives. Further material investment in sustainability or new energy opportunities by Beach is not required to meet our 2030 targets. On that note, I'll hand back to Ryan. Thank you, Brett. Ladies and gentlemen, we'll now turn to the formal items of business on the agenda. The notice of meeting dated 11 October 2024 has been made available to all shareholders and is also available on Beach's website. There being no objections to the notice of meeting, it will be taken as read. All resolutions will be voted on by poll rather than a show of hands. As Chairman, I have called that poll. I propose to put all resolutions to the meeting and then conduct the poll on all resolutions together at the end of the meeting. Shareholders and proxy holders would have received on registration a blue voting paper that provides the holders of poll for today's resolutions. I will provide more details shortly when the poll is to be conducted. All results will be determined by our share registry after the close of the meeting and then announced in the ASX. The company has received 1.5 billion proxy votes representing 69% of valid securities voted. As we move through each resolution today, the proxies received will be displayed on the screens. Proxies have been reviewed by our share registry Boardroom Pty Limited. I note that I have cast undirected proxy votes given to me as Chairman in favor of all resolutions. The first item of business is the receipt and consideration of the financial report, the director's report, and the auditor's report of the company and the group for the financial year ended 30 June 2024. There is no requirement to approve the financial statement, so I will not be putting a resolution to the meeting. We'll now take some time to address any questions regarding the accounts or our operation generally, or if you have any questions for the company's auditor. Shareholders, this is your opportunity to ask any questions you may have regarding the company other than the subject of the resolutions that will be put to the meeting shortly. There'll be time for shareholders to ask any further questions they may have about those matters when the resolutions are put to the meeting. To begin with, please allow me to answer questions which were received prior to today's meeting. We've received a number of questions this year, so in the interest of time, we'll not read them all out. Instead, I've asked Ken McGregor, our media and government relations manager, to summarise the questions received. Some of the questions are directed to our auditors, EY. As required by the Corporations Act, we have made copies of these questions available at the registration desk. Thank you, Chairman. Hope that's on. We have received three questions from Ausland Pty Ltd. The first question relates to the composition of contractors who are currently working on the Waitsia project and the number of Beach staff involved in the commissioning of the plant. In their next question, Ausland expresses support for Beach's plans to move into the gas storage business and peak electricity generation and would like to know if there are any further updates to these future plans. The third question relates to whether there will be additional LNG swap cargos scheduled after November. Thank you, Ken. In relation to the first question about the Waitsia plant, construction of the plant is essentially complete, with a focus now on commissioning activities. The next steps will be to introduce feed gas from Xyris, monitor the flow of gas through the plant, sequential commissioning of compressors, connection of the Waitsia wells, introduction of feed gas, and monitoring of the plant reliability during the ramp-up phase. There are approximately 350 people currently working on site, most of which are Clough contractors. Roughly 20% are white-collar workers and 80% are blue-collar workers. Beach is committed to support Mitsui as operator. Several Beach employees with senior operational and commissioning experience and contractors from our Cooper Basin operations team have been seconded to the site. They'll manage process equipment commissioning, leak testing, and start-up verification and certification alongside Mitsui and Clough contractors. Mitsui and Beach now have greater oversight of commissioning activities to ensure an efficient and effective commissioning process. On the second question, as announced with the strategic review outcomes in June, Beach is exploring gas storage as a medium-term priority and gas peaking power as a longer-term priority. We have commenced assessment of gas storage opportunities adjacent to existing assets and will provide an update at a later date. Finally, in relation to LNG cargoes, we have lifted three LNG swap cargoes to date and have a fourth scheduled for later this month. These are delivering additional revenue and cash flow for Beach as we complete the Waitsia project. We are pursuing further time swap opportunities with gas market participants to facilitate additional cargoes before Waitsia start-up. Thank you. Thank you, Chairman. The next question is from Sujata Nooni, who has raised a question about Beach's share price and return on investment and what plans are in place to improve performance. Thank you. I assure you this is front of mind for the board and executive team. We have a refreshed strategy, restructured the organization, and reduced headcount considerably this year. We are confident our actions are creating a strong foundation for sustainable value creation. Thank you, Chairman. We have received a number of questions from Ms. Tracy Hamilton in relation to Beach's restoration and decommissioning obligations. These questions are directed to our auditors, EY. Essentially, Ms. Hamilton wishes to know if Beach's provisioning for future restoration and decommissioning costs are reasonable, having regard to the regulator's existing guidelines and potential shift towards earlier decommissioning of oil and gas infrastructure. Ms. Hamilton also refers to previous industry examples of actual decommissioning costs exceeding estimates. Thank you, Ken. Before I ask EY to answer these questions, our Chief Financial Officer, Anne-Marie Barbaro, will say a few words about our process for estimating restoration and decommissioning costs and the provisioning for them in the accounts. Thank you, Chairman. Beach has a rigorous process in place to calculate its restoration provision, with cost estimates taking into consideration regulatory requirements, industry experience, and our own personal experience on major projects. In addition to this, Beach engages independent experts to conduct periodic external assessments of our offshore assets, which then inform updates to our provisioning estimates. Beach's restoration provision assumes no repurposing of existing infrastructure, with planned timing of offshore decommissioning activity in adherence with NOPSEMA's compliance strategy and legislative requirements. Estimated costs in the provision currently assume all subsea pipelines will be left in situ, which the group believes it can demonstrate will deliver equal or better environmental and safety outcomes rather than complete removal. While the provisions reflect the group's best estimate based on current knowledge and information, further studies and detailed analysis of the restoration activities for individual assets will be performed when detailed decommissioning plans are required. As disclosed in the notes to our financial statements, should the future outcome of approvals with regulators change these plans, with decommissioning activities either required to be expanded or brought forward, it may result in up to AUD 294 million being added to the group's restoration provision based on our latest estimate of possible future obligations. Thank you, Anne-Marie. I'll now ask Ms. Lindsay Carr, EY's lead audit partner, to provide her response. Lindsay. Thank you, Chair. Our audit opinion is included in the annual report, and it sets out the responsibilities of management, of the directors, and of EY as auditors. It also describes the nature of the procedures that we perform and notes that our opinion is provided on the financial report as a whole, not on individual assets or liabilities. As described by the Chief Financial Officer, Beach has a plan and a process in place to estimate the gross costs and likely timing of decommissioning provisions. We are satisfied as to the reasonableness of the value assigned to decommissioning provisions. As set out on page 141 of the annual report, we consider decommissioning provisions to be a key audit matter. In considering the impact of the provisioning process on the financial report, our audit includes assessing the evidence available that supports or contrasts management's position. We also consider the internal control framework and management controls in place. In assessing the restoration provisioning, we use the expertise of EY's internal environmental and rehabilitation specialist team to assist us in assessing the gross cost estimates, including contingencies. Understanding the amount of this gross cost estimate includes assessing the compliance of Beach's rehabilitation activities with those required by regulations and legislation, and where judgment is exercised by the company to assess the extent of rehabilitation required, we consider the reasonableness of the judgments made based on available precedent in the application of regulation and in considering global and domestic industry practice. This includes assessing whether the conclusions reached have been appropriately implemented. We also consider other information available, including, for example, international precedent, the fact that Australian guidance has been developed concerning leading international practices, the absence of a mature decommissioning industry and precedent in Australia, and regulatory updates and public commitments that may impact Beach's decommissioning plans. Where key or critical judgments are made by the company, we ensure that appropriate disclosure is provided in the financial report. In respect of this matter, we worked with management to ensure the disclosures set out in the financial report go beyond the base requirements of the accounting standards. The company's financial report appropriately discloses the key judgments regarding restoration. Thank you. Thank you, Lindsay. Ladies and gentlemen, I now ask you to make your way to the microphones, which are located on my right and on my left of the room if you'd like to ask questions. Please state your name clearly and show your blue and white card to ask a question. Thank you. Hello, my name's Chris Warren. I'd like to address my question to the auditor, please. Given that there have been examples where the ultimate decommissioning costs for offshore and oil and gas operations have been an order of magnitude above what was provisioned, how confident are you that the approach of external consultancies and Beach Energy's own internal approach to restoration provisioning is robust? What is the quality and robustness of these assessments? Can shareholders have confidence that there won't be any future surprises from increased decommissioning liabilities? Thank you. Thank you. Lindsay, you might. May I talk? Sorry, I'll just address that question just before. I don't know if Anne-Marie, you want to add any context and then Lindsay provide further. We did address part of that question in the prior response. Yeah, that's right. So just following on from the previous response, obviously we do take into account any new information that is available, particularly things like, from Beach's perspective, we are doing things like engaging rig contractors and signing rig contracts. So we have up-to-date information as we're engaging in major project activities, and that information helps to inform our restoration provisions as well each year. So we do keep robust up-to-date information that actually informs that provision going forward. And also, in addition to that, as I mentioned earlier, we do do periodic independent assessments as well of our provisioning. They build up that cost estimate, and they talk about any gaps that we might have, which take into account the changing regulatory environment, cost inflation, and what's actually been happening out in the industry as well. So I guess I can pass to Lindsay to talk about, I guess, how she gets comfort, which was also addressed previously as well. Yeah. Lindsay. Thank you, Anne-Marie. Yeah, so with regards to the use of external contractors, one of the things that we do as part of our audit procedures is also assess the independence and objectivity of those contractors. We look at their expertise in the industry, and we look at, when we consider the gross cost estimates that are built up, we look at them in accordance with the classes of engineering estimates. So there is very clear engineering guidance that is followed. That guidance sets out contingencies that should be included at different levels of classes of estimate, depending on how close to a provision being required to be undertaken the company is. As the CFO already mentioned, some of that work is only required to be done very close to when the actual provisioning will be required to be incurred. But earlier in that process, the classes of estimates under the engineering standards do set out what extent of contingencies should be included because that really refined information is not yet available. That is all part of the considerations and why we do use our own internal expertise, as well as the work that's done by the company's external experts and their own internal experts as well. Thank you. Next question. Yep, hello, I'm Clare Aistrope. Sorry. Oh, sorry, that's odd. You can go ahead, you. Okay. Thank you. I'll wait. Sorry. This question is directed to the auditor. In the notes to the financial statement in Beach Energy's annual report, note 13 states, "It is currently the group's intention to leave subsea pipelines in situ. This assumption is justified on the basis that the existing guidelines provide options other than complete removal if the title holder can demonstrate that the alternative approach delivers equal or better environmental safety and well integrity outcomes. However, regulatory guidance stipulates that full removal is the base case restoration expectation, and Beach Energy does not have regulatory approval for anything other than the base case of full removal. As the auditor, do you think it's justifiable to pre-assume a regulatory approval for leaving subsea pipelines in the ocean and to present decommissioning liabilities to shareholders based on this assumption?" Lindsay. Thank you. So this question has largely been answered already. The base guideline may say, "Remove the infrastructure." The accounting standards and the provisioning standards require the company, not allows, requires the company to include their best estimate. That best estimate takes into consideration other information that is available, including, as the CFO and myself have already mentioned, the international precedents that are available and also some precedent that's becoming available in Australia at the moment as well. So it is a very immature market here, but we're seeing that progress all of the time. And even in the last few months, there have been more cases of in situ abandonment being approved. So when we consider what is management's best estimate, we consider all of that information. Simply providing based on a base case that may over-provide for that number is not necessarily providing better provisioning under the requirements of the standard. So it's all of that that's taken into consideration by us. Thank you. You know that some time ago, there's a lot of work done on hot rocks up north. At the time, they were considered non-viable. And I wonder, what now with artificial intelligence and the huge amount of energy it requires, whether Beach might be interested in developing hot rocks again. And the payoff, of course, is that it's not the gas world and hence advantageous politically and the rest. Thank you for the question. We haven't got that as part of our strategic objective. It's kind of not in our map and outlook. I think one of the aspects I'd say is we're constantly looking at opportunities within the basins we operate. And if that does present a technological opportunity in the future, I mean, that's something we'll explore. Ultimately, our focus is on natural gas and its role that it can play in supporting transitional kind of energy and supporting a kind of increased variable renewable energy in the grid. As we look at those opportunities, we'll continue to explore how we can enhance that through other forms of energy as we outlined in the kind of medium term. Does that move to stored energy release, if you like, and peaking power? But the opportunity with hot rocks hasn't been something that's been on the agenda, but it's something we can, and we'll continue to keep an eye on other technology that may open up other opportunities. So that's something. I'll have a look. Yeah. I appreciate the feedback. Thank you. Yeah. Yes, please. David Hansman is my name. Congratulations on being appointed chairman. You already have fairly extensive responsibilities, so I hope they'll be manageable. My question relates to gas reserves. Are they increasing, decreasing, or steady at the moment, please? Thank you for the question. I might hand that specific element to Brett to provide more context. Okay, the microphone's on. Yeah, great question. Through the strategic review, I had a very close look at what our reserve position was. We don't see any issues in our remaining part of our portfolio. Outside of the annual production we have, we see our reserve position remaining solid. So there's been no, since your appointment, there's been any assessment of whether the reserves can be increased readily? We're working on exploration campaigns to unlock further volume. So we're part of a rig consortium for offshore Victoria. We'll be drilling some wells in the next, well, late this financial year, early next financial year, to unlock some more resources there. We have ongoing campaigns in the Perth Basin. So we're looking at drilling not only the development wells, part of the Western Flank development, but we're looking at a couple of exploration wells there. And one of the key pieces I'm working on at the moment, or our team's working on, is through the Western Flank. We pressed pause on drilling over the last year and a half, given two years of less than expected reserve outcomes. So what we've done has been working on building the inventory so that we can deploy a rig back into the basin late this financial year and undertake an exploration appraisal and development campaign through there. So more will be revealed about that campaign probably through the half year. Thank you. Cheers. Thank you. Thank you, David. Question. Yes, I'm Rob Phair from Doctors for the Environment Australia. Beach Energy is a relatively new entrant into the global LNG market, and the company website reports an increasing LNG demand outlook to support the global energy transition. However, the ACCR, the Australasian Centre for Corporate Responsibility, has literally just yesterday published new research suggesting that research relates to Shell, suggests that Shell's LNG strategy is overcooked, underestimating competition from renewables, especially in the Asian market, and risks eroding shareholder value. If it turns out that Shell has got this wrong, might this company be running some of the same risks? Thank you for the question. I won't comment on the specific report or analysis, but when we look at our exposure, we have three core exposures across Beach that focus: East Coast domestic gas, West Coast domestic gas, and the LNG export market opportunity. We believe firmly in the opportunity with LNG export. We still believe long term the role that gas will play in supporting more renewables in the grid. As you go forward, you increase the use of renewables, you need firming power. And today, the best technology for that is natural gas. It's dispatchable, it's storable, and it's a complement to more renewables. So I think as you look at that and the outlook, yes, there'll be increased renewables, but we think that there'll be an increased demand that comes with that. All projections going forward show an increased demand for use of LNG. Latest predictions, I think, from international energy market, I think, highlights that there's a likely shortfall in supply because the assumption on increased capacity coming through with project delays that are in construction and projects not getting through FID means that over the next decade, we see quite a, in our view, a compelling opportunity with LNG. And that's the role we play. We have an export license that will run towards probably the end of this decade, and then our focus is very much on that West Coast domestic market. Thank you. Perhaps I'd suggest this report that I'm referring to has literally just come out. I only saw reports of it this morning. Perhaps yourselves and shareholders might want to have a look at it. Thank you. Thank you. Thank you for the question. Yes. Fern Cadman. There appears to be growing community opposition to oil and gas projects in the Otway and Sorell offshore basins adjacent to Victoria and King Island. Recently, seismic company TGS has pulled out of a large project in the region. ConocoPhillips has faced significant opposition and delays in plans for exploration drilling in the same region. What are Beach Energy's intention with the newly acquired exploration permit T/50P? Is expansion viable in the context of what appears to be growing community opposition and a lack of social license for oil and gas in this region? Thank you. I think we're very conscious of community engagement and relationships. We've invested quite a material amount of capital into expanding our activity in the Otway. Our experience today has been very warmly received from a broad community perspective. We engage with landholders. We engage with multiple parties and multiple interested parties through that process and on balance, support of the investment, support of the jobs, support of the activity. So for us, we still see Otway as a key gas supply resource for the East Coast market. All predictions highlight a shortfall in supply. So we will continue to look at how we can provide that gas through our activity. So we've got exploration and development activity planned for the next 12 months or as part of a program into next year. But our experience to date through engagement with the community on balance, we've found it's been on balance quite positive towards our activity. Thank you. Can you provide any information about that T/50P, the new permit, what your intentions are there and the timeframes? Brett, do you want to add anything to that? It's just been awarded. So initial stage is looking at the already acquired seismic data, so no new acquisitions, reprocessing. So we'll have a look through that, and then we'll make some decisions following it. But yeah, it's part of our exploration footprint through that region. And I think some of the outcomes of the upcoming drilling campaign will probably speak to what are the next steps there. Thank you. Thank you. Yep. Clare Aistrope. This question is directed to the auditor. Does Beach Energy's assumptions around offshore restoration include any assumptions that infrastructure will be reused, for example, for carbon capture and storage, resulting in deferred decommissioning? If so, can you describe the assumptions that have been made? I think, to be honest, we've had two questions that have dealt to the restoration issues, and I think they're kind of a very similar theme. I'm happy for the audit because you have a right to ask the auditor those questions to provide a response. But to be honest, we've kind of dealt to those issues. But Lindsay, if you have anything to add to that, I'll provide to you because shareholders have asked specifically. Thanks, Ian. More on that question and the initial checks. Yeah. I think we've dealt to that issue. It will defer decommissioning if you're going to use. So it will defer the decommissioning if you use it for CCS? Absolutely. And we'll look at opportunities, not for deferment of decommissioning, but for use of existing infrastructure for a broader economic benefit. Okay. Thank you. Thank you. Thank Thank you. Yes. Neil McNally's my name. I'm a long-term shareholder of Beach. And I mean a real long-term holder, as in, yeah, participated in a lot of equity raisings and that. Yeah, I'd like to thank Brett for your efforts for this year and that. Yeah, I happened to let them people go. Yeah, it was really hard to do and that. But he's done a good job. But unfortunately, I don't have to mention how well the shares priced up, hey. Yes. And for me, that also comes from this capital management we always are hearing about. And yes, granted, you did increase the share to AUD 0.04 a share a year, which is most appreciated. But I've got that before. I had to point out to a gentleman that once upon a time, our share price hit an all-time high of AUD 2.81. Yes. I'm not too sure if you know, Brett, but you know much of the history of the Nappamerri Trough. Yes. Yes. Okay. So I don't really have any dead-set questions to each of you. I'm just going to bounce a few things off you. So 22 weeks ago, you said in The Australian that in 2025, you're looking for mergers and acquisitions. Yes, I did. Well, can you enlighten us on any, or? Yeah, so it's probably not the forum to give any preemptive conversations about opportunities we're looking at. What my focus has been, certainly over the last 10 months, is getting the operations and the organization fit and healthy. So I've always used the language about earning the right to grow. So what we've done is we've rebuilt the organization in terms of the structure. We've taken 27% of the people out of the business. We've got 3% more to go before we hit our target at the end of the year. We'll be delivering. We've just delivered a whole lot of campaigns through the Cooper in west wells, through Enterprise, bringing Moomba CCS online. We're working, supporting the operator in Western Australia, and bringing on Waitsia here is quite a transformational moment in Beach's future into bringing that large position. I think that enables us through our ever-improving balance sheet, and we've gone from 15% gearing to 14% gearing over the last quarter to give us the balance sheet and the support to do more things. So we're looking closely at opportunities around the Australian region, at things that could be the next move for Beach, but nothing further to update you at this point in time. Yeah, well, absolutely. I didn't think you were going to go and tell me what you're going to buy and that, but I'll just, but the thing is, just in case you bought it in front of me, that's my worry. Well, hang on. I'll get back on track here, what I'm talking about then. So, okay. Right, I think. So capital management this year, the company paid out, give or take a few dollars, AUD 81,120,000 in dividends. Is that correct? Can someone— it's probably about right, yes. That's right. Okay. Right numbers. So before we did the Drillsearch acquisition, yeah, that was 558 million shares were added to the company. So that's virtually a quarter of the company, roughly, give or take 10 or 20, 30 million. And so the Drillsearch shareholders would have received AUD 20 million in them dividends. Would the Drillsearch assets produce AUD 20 million a year to pay them dividends? Is that your question, David? Well, yeah. Are we making any money out of the Drillsearch acquisition? Yeah, trying to get to the heart of it. Look, I think that's eight years ago now. Oh, no, no, no. No, no. 2016. I actually could correct you on your last year on your presentation. You actually said that Glenn here did the Drillsearch acquisition, and then we did the Lattice acquisition. That's not true. Beach Energy acquired Lattice for capital raising and then bought it, and then Drillsearch was actually acquired in and around at the start of COVID, I think. Look, to be honest, it was 2016 because I know because we joined the board right after that transaction. We, at the time, supported that transaction. SGH had 20% of Beach and 20% of Drillsearch. As far as the value creation through that, it opened up the Western Flank, and I think it certainly opened up a huge amount of synergies for Beach. The challenge with oil and gas assets is, by nature, they're depleting. Over that time, Drillsearch was highly accretive for Beach, and I think it helped underpin the growth. I don't think Beach would have been in a position to acquire Lattice predominantly through debt. No, we did a capital raising. Yeah, but that was a small amount. I don't want to get into a debate, David, but well, that's something we might just get. Maybe Derek can check. Look, it's no big deal. It's been done now. But what my issue is, is all through the years when I participated in the capital raising of Lattice and the few others there, we took over Empress Energy, Adelaide Energy. They were small acquisitions that we could handle. But I just feel the balance sheet got loaded way, way too much with the Drillsearch acquisition. Okay. So I'd like to just get to the number of the question if you can answer that. We'll talk about it later on then, yeah. Because, I mean, well, look, if you look at the figures there, our market cap yesterday, I think when we closed, was a bit under about AUD 2.25 billion, I think, at the close, yes, I give or take a bit. But yet our profit for the year was like AUD 900 million. That's a good profit on a—if you look at return on equity, it's very good. I still struggle to see why the share price languishes all the time. Look, I understand your frustration, and I can only say, I mean, absolute alignment with that frustration. It frustrates us, the board. We know we need to drive that performance to get that share price better reflecting the value of the assets within Beach. We have tremendous confidence in the strategy, in the assets that we own, and the opportunity they represent. There's no question that the share price has been a frustration and focus for us. We want to see that elevate back to what we consider fair value. It's well beyond that current price, and it's something that we're focused on. So we had a question in relation to that earlier and can only kind of re-emphasise. It is a complete focus of the board to see the market better reflect the quality of business. There's no question that part of that's building confidence. We appreciate your long-term confidence you've demonstrated in Beach. We wish the institutional investors had the same level of long-term confidence, but we know we've got to earn that. So if we come back to the strategy, we think that sets us on the right trajectory if we execute on that effectively. I think, and I'm happy to talk separately in relation to capital management, we've been very effective at utilizing the cash flow from Beach and leverage to acquire assets like Lattice, which was majority debt and a little bit of equity. And the payback on that was very quick. We know when we get through the extensive capital investment program we've got with major projects, Beach will start to generate substantial cash flow. Again, this is all opportunities for the future. But I appreciate the conversation. I think, to be frank, I'm going to have to probably put it up there and we can talk about that separately. Well, I've got one more for Brett then. If you're talking about mergers and acquisitions, and I used to bounce this question off of Glenn a few times about the Nappamerri Trough, and same old story. He used to say, "Well, look, we don't understand it. It was tight. It got locked in." But I mean, that's 10 years ago now. From what I hear, technologies and that has changed for that sort of, is it worth having a look at the Nappamerri Trough again? Yeah, we've recently brought Bill Ovenden, who I'm sure will be happy to enjoy a chat after this session as well, who's got a lot of experience through that region across the Cooper Basin as well. The challenge for the deeper tighter rocks is still one of costs. Australia's inflation has been significant over the last period of time. So though technology is improving, the costs are also kind of chasing the inflationary cycle. So we've just got to manage through that. We're seeing great opportunities through our SACB joint venture, through things like the Granite Wash. We're getting good rates for those wells. And we need those rates to deliver for a cash flow generation out of those assets. So Nappamerri Trough, we always look at areas like that and across the broader Cooper and Western Flank. Those opportunities are part of the scenario. Not something that I'm focused spending capital on at the moment. But as a conversation came up earlier about hot rocks, these technologies are available and potential. We just look at how we can deliver against them and do they generate the rates of return that we require to spend our money, so that's the focus we have, and if at a point in time we're seeing gas prices get to the point that supports additional tight reservoirs, well, then we'll look at them in much more detail. Yeah, sure. Think because, yeah, that's how it was sold to us at that time because we had Chevron in on the deal, Icon Energy in on the deal. It was close to a pipeline. As I said, a share price hit AUD 2.80, and then we know what happened then. It got too dear. Then we had a crash in the oil price, and yeah, markets do what markets do. But yeah, look, so just one other thing. There is talk of an oil downturn because there's a lot of barrel sitting on the side with the Arabs and that, and same thing there, a bit annoyed because the Americans are pumping all this oil. They're a bit sort of annoyed with them eating their lunch and that. Yeah, is that what? Basically, what I'm trying to say, do you think we can produce enough cash from the Waitsia that may sort of insulate us from any downturn on the oil price if we do see it? That's a super good question because it really speaks to our strategy. Our strategy is to build the organization to have a very low free cash flow break-even, so what we were trying to do was grow. Another way to talk about it is trying to grow margin for our barrels. Our free cash flow break-even from the last financial year was in the 50s. We needed a $50 plus, $54, I think it was, a barrel before we started generating revenue. Our target is to hit sub $30. That means that every $10 above $30, we should generate about $70 million worth of free cash flow. And with Waitsia coming on, that grows to north of 100. To insulate ourselves against whatever price shocks the oil has is about us managing our costs. If we can deliver that long-term $30 free cash flow break-even for our business, it means that we can expose our shareholders to every dollar above that as a free cash flow generative dollar. And that enables us to do more things and to deliver bigger dividends back to shareholders. Your question's spot on. We have to manage that. It's what we can control. Unfortunately, I can't control the people in the Middle East or what's happening in the U.S. politics. But what I can control is our costs. So we're very, very focused on our strategy, getting our cost base right so that we can expose our barrels to higher margin. And having that owners' mindset, growing that margin should deliver stronger long-term revenue generation or free cash flow generation for our shareholders. Yeah, that's it, 100%. And people talk about inflation and someone says to me, "Oh, geez, it's dear to build a house at the moment." I said, "Yeah, well, you're going to try and build a gas field or something." Then you'll, as I said, you're dealing in a really tough environment. I get it. Okay. Thank you, David. Appreciate it. Thank you. Let's keep on working on this capital management with a bit of a share buyback maybe. Thank you. Next question. 25% increase for all original Beach shareholders. Zero in on, on a couple of terms that came up in comments from the front bench. Renewables transition was one of them. Another was current focus on natural gas. I don't know if the company is working on being part of the renewables transition or if you're going to just keep pulling hydrocarbons out of the ground. I'd like to point out Fortescue Metals Group policy at the moment is the biggest chunk of their profits is returned to shareholders as dividends. A smaller chunk of profits goes into capital expenditure. And I believe it's 10% is put into research and implementation of renewable energy. My question is, is Beach Energy capable of diverting some of the profits towards a similar scheme so that they can take part in an active part in the transition to renewables? Yeah, thank you for the question. We see our role supporting the increased renewables into the electrical grid. I mean, that is where there's going to be more reliance on natural gas to actually firm up renewables. That will be an increasingly important role. It will assess the return on capital associated with that renewable investment and whether it meets hurdle rate for us, which it hasn't to date. And our core expertise and core asset orientation is towards gas and its role that can play. So we'll assess all opportunities, but ultimately, we'll deploy capital where we think we can generate the best return. And we do believe the important role that gas will play in supporting increased renewables and supporting the renewable transition. Thank you. So with no further questions, we'll now move on with the resolutions. The first resolution that we put is a non-binding ordinary resolution in respect of the remuneration report for the financial year ended 30 June 2024. The remuneration report is found in the 2024 annual report at pages 71-90 and contains information about the remuneration arrangements of the non-executive directors and senior executives who are key management personnel. The proxy results for this resolution are shown on the screens. I note that there is a voting exclusion in respect of this resolution as set out in the notice of meeting. I now move resolution one as set out in the notice of meeting and as previously seen in the screens behind me. Are there any questions or comments in respect of this motion? There are no questions. I now move to the next resolution. The second resolution is an ordinary resolution regarding the election of Ms. Sally Martin as a director. Ms. Martin was appointed to the board on 11th of March 2024 and is a member of the remuneration and nomination committee and technical committee. In accordance with the constitution, she retires from the board at this meeting and, being eligible, offers herself for election. Ms. Martin is a former senior executive who had various roles at Shell over a 34-year career. She has extensive operational and business team leadership experience in complex industrial environments, including refining and trading. Ms. Martin has strong ESG credentials, including in energy transition strategy development as vice president of health, safety, security, environment, and social performance at Shell. Further details of Ms. Martin's biography are set out in the notice of meeting. The proxy results for this resolution are shown on the screens. I now put the resolution as set out in the notice of meeting and as previously seen on the screens behind me. Are there any questions or comments in respect of this motion? If there are no questions, I now move to the next resolution. Congratulations. The third resolution is the ordinary resolution regarding the re-election of Dr. Peter Moore as a director. Dr. Moore was appointed by the board on the 1st of July 2017 and last re-elected to the board on the 16th of November 2022. He is chair of the remuneration and nomination committee and a member of the technical committee. He is also a lead independent executive, not an executive director. Dr. Moore has over 40 years of oil and gas industry experience. His career commenced at the Geological Survey of Western Australia with subsequent appointments at Delhi Petroleum Pty Ltd, Esso Australia, ExxonMobil, and Woodside. Dr. Moore joined Woodside as geological manager in 1998 and progressed through the roles of head of the evaluation, exploration manager, Gulf of Mexico, manager geoscience technology organization, and vice president exploration Australia. Further details of Dr. Moore's biography are set out in the notice of meeting. In accordance with the constitution, he retires from the board at this meeting and, being eligible, offers himself for re-election. The board unanimously supports re-election of Dr. Moore. The proxy results for this resolution are shown on the screens. I now put the resolution as set out in the notice of meeting and as previously seen on the screens behind me. Are there any questions or comments in respect of this motion? If there are no questions, I'll now move to the next resolution. Congratulations, Peter. The fourth resolution is an ordinary resolution relating to the issuing of performance rights to the Managing Director and CEO, Brett Woods, under the Beach 2024 long-term incentive offer. The board views Beach's long-term incentive plan and performance-based conditions for vesting of the rights issued under it as an appropriate link between a portion of the executive's remuneration and the generation of long-term growth in shareholder value. Approval is now sought from shareholders for Mr. Woods's participation in the 2024 long-term incentive offer. A detailed explanation of the terms of the proposed long-term incentive offer to Mr. Woods is set out in the notice of meeting. The board considers that the grant of performance rights aligns Mr. Woods's remuneration with the interests of shareholders. The proxy results for this resolution are shown on the screens. I now put the resolution as set out in the notice of the meeting and as previously seen on the screens behind me. Are there any questions or comments in respect of this motion? There are no questions. I'll now move to the next resolution. The fifth resolution is an ordinary resolution relating to the issue of performance rights to the Managing Director and CEO, Brett Woods, under the Beach FY24 short-term incentive offer. Beach has an executive incentive plan in place under which annual grants of short-term incentives are made. The short-term incentive is designed to reward selected Beach Group employees for achieving annual performance measures. Approval is now sought from shareholders for Mr. Woods's participation in the FY24 short-term incentive offer. A detailed explanation of the terms of the proposed short-term incentive offer to Mr. Woods is set out in the notice of meeting. The board considers that the grant of performance rights aligns Mr. Wood's remuneration with the interests of shareholders. The proxy results for this resolution are shown on the screens. I'll now put the resolution as set out in the notice of meeting and as previously seen on the screens behind me. Are there any questions or comments in respect of this motion? There are no questions. I now move to the next resolution, which brings us to the end. Ladies and gentlemen, we'll now conduct a poll on the motions numbered one to five. Firstly, if there is any person present who believes they are entitled to vote but has not registered to vote and does not hold a blue admission card, would you please raise your hand for assistance? You should have received material at the time you registered with the Boardroom staff prior to the meeting. People entitled to vote on this poll are all shareholders, representatives and attorneys of shareholders, and proxy holders who hold blue admission cards. On the reverse of your blue admission card is your voting paper. I now go through the procedure for filling in the voting papers. Proxy holders have attached to their admission card a summary of proxy votes, which details the voting instructions for each item of business. By completing the voting paper when instructed to vote in a particular manner, you are deemed to have voted in accordance with those instructions. In respect of any open votes, a proxy holder may be entitled to cast. You need to mark a box beside the motion to indicate how you wish to cast your open votes. Proxy holders should refer to the summary of proxy votes form attached to your voting paper for further information. Shareholders also need to mark a box beside the motion to indicate how you wish to cast your votes. Please ensure you print your name where indicated and sign the voting paper. When you have finished filling in your voting paper, please leave the auditorium and lodge your voting paper in a ballot box being held by our share registry staff from Boardroom at the exits to ensure your votes are counted. There are refreshments waiting for you outside. If you require any assistance, please raise your hand. Would you please indicate by raising your hand if you require more time to complete and lodge your voting paper? If everybody has now completed their votes, I now formally close the poll. The final poll results will be collated and released to the ASX and posted on Beach's website when they are available later this afternoon. On behalf of the board, thank you for participating in today's AGM.