Email from FAR, page-47

Re: the above bit Rolla on COP,

This has been regularly mentioned in their 10-Q & 10-K filings b'coz it involves one of their Subsidiaries. See timeline below. 

1) Woodside Energy Senegal Pty Ltd was incorporated on 27/1/16

2) Woodside Energy Holdings (Senegal) Ltd was incorporated on 27/6/16 in the UK

3) A subsidiary was acquired on 28/10/16 and changed its name from ConocoPhillips Senegal BV (incorporated in Netherlands) to Woodside Energy Senegal BV on 26/1/17.

- Woodside paid USD442mil + 4mil for transaction costs.

- COP received USD 442mil and recorded a gain of USD142m (pre tax) and USD138m post tax for this disposition.

- COP's carrying Book value for 35% interest was USD286mil, hence the gain on disposition.

- FAR should also have a book value for Senegal as per their AnnRep,

- Cairn's book value for Senegal till June end 2018 was USD 446.6 mil.

4) In June 2017 FAR initiated arbitration against ConocoPhillips Senegal B.V. in connection with the sale of COP Senegal BV to Woodside Energy Holdings (Senegal) Ltd in 2016. This arbitration is ongoing.