Ann: Half Yearly Report and Accounts, page-16

Refer note 6 : "On 30 June 2020, the Group’s oil and gas properties were assessed to remeasure the Senegal asset to its fair value less costs to sell"

Refer Note 9 : "In determining the recoverable amount of the Senegal project the Group considered the following in its assessment process: 1. A valuation based on the publicly announced sale of Cairn’s 40% interest to Lukoil which was subsequently pre-empted by Woodside, on the same terms;"

"Cairn’s sale of its 40% interest to Lukoil, subsequently pre-empted by Woodside FAR’s implied value based on the Cairn/Lukoil sale terms excluding contingent payments and payment of back costs from 1 January 2020 to 30 June 2020 is US$112,500,000"

"As all working capital is reimbursed from the effective date (1 January 2020)"

Consequently, the US$166,010,577 valuation represents US$112,500,000 valuation as at 1 Jan plus expenditure of about US$53,978,577 incurred between 1 Jan and 30 June less US$468,000 for something (probably estimated selling costs). The US$53,978,577 includes the US$17,399,824 Liability for Trade and Payables ie. Money owing as at 30 June 2020.

(sorry answer given as I typed and searched for figures)

Regards

SP