Tellurian Inc. Annual report pursuant to Section 13 and 15(d)

Pro Forma Financial Information (Tables)

12 Months Ended

Jun. 30, 2016



	As Reported			Exchange Transaction Pro Forma Adjustments				Sale of Weald Basin Pro Forma Adjustments				Pro Forma as Adjusted
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	1,680		$	433		(a),(b)	$	598		(f)	$	2,711
Securities available-for-sale	601			—				941			(f)	1,542
Accounts receivable	16			—				—				16
Prepaid and other short-term assets	2,087			—				—				2,087
Current assets held for sale	26,042			(24,929		)	(c)	(1,113		)	(g)	—
Total current assets	30,426			(24,496		)		426				6,356
Property and equipment, net	455			—				—				455
Goodwill	500			—				—				500
Other long-term assets	169			(150		)	(d)	—				19
Total assets	$	31,550		$	(24,646	)		$	426			$	7,330

LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Accounts payable	$	791		$	—			$	—			$	791
Accrued and other liabilities	2,826			(174		)	(e)	—				2,652
Notes payable	783			(625		)	(a)	—				158
Current liabilities held for sale	10,638			(9,969		)	(c)	(669		)	(g)	—
Total current liabilities	15,038			(10,768		)		(669		)		3,601
PREFERRED STOCK:
Series A convertible preferred stock (par value $0.01per share): Authorized 28,000,000 shares, issued 22,293,295 shares	23,501			(23,501		)	(c)	—				—
(DEFICIT) EQUITY:
Common stock (par value $0.01 per share); Authorized 300,000,000 shares, issued 6,972,023 shares	70			—				—				70
Treasury stock (at cost): 1,209,389 shares	(9,806		)	—				—				(9,806		)
Capital in excess of par value	94,069			9,623			(c)	—				103,692
Accumulated deficit	(96,234		)	—				1,095			(g)	(95,139		)
Accumulated other comprehensive income	4,912			—				—				4,912
Total (deficit) equity	(6,989		)	9,623				1,095				3,729
Total liabilities, preferred stock and (deficit) equity	$	31,550		$	(24,646	)		$	426			$	7,330



		As Reported			Exchange Transaction Pro Forma Adjustments				Sale of Weald Basin Pro Forma Adjustments		Pro Forma as Adjusted
OPERATING EXPENSES:
	Depreciation	$	54		$	—			$	—	$	54
	Exploration	71			—				—		71
	General and administrative	5,214			(174		)	(e)	—		5,040
	Total operating expenses	5,339			(174		)		—		5,165
	Loss from operations	(5,339		)	174				—		(5,165		)
OTHER (EXPENSE) INCOME:
	Net interest expense	(4		)	—				—		(4		)
	Loss on investment in securities	(587		)	—				—		(587		)
	Gain on sale of bonus rights	2,514			—				—		2,514
	Other income	88			—				—		88
	Total other (expense) income	2,011			—				—		2,011
	Loss from continuing operations, before tax	(3,328		)	174				—		(3,154		)
	Income tax expense	—			—				—		—
	Loss from continuing operations, net of tax	(3,328		)	174				—		(3,154		)
	Preferred stock dividends	(1,858		)	1,858			(c)	—		—
	Adjustment of preferred stock to redemption value	4,207			(4,207		)	(c)	—		—
	Net loss attributable to common stockholders from continuing operations	$	(979	)	$	(2,175	)		$	—	$	(3,154	)
	Basic and diluted loss per common share attributable to common stockholders from continuing operations	$	(0.17	)							$	(0.55	)
	Weighted average number of basic and diluted shares outstanding	5,746,307									5,746,307

MAGELLAN PETROLEUM CORPORATION

UNAUDITED PRO FORMA CONSOLIDATED STATEMENT OF OPERATIONS

FOR THE YEAR ENDED JUNE 30, 2015

(in thousands, except shares and per share amounts)



		As Reported			Exchange Transaction Pro Forma Adjustments				Sale of Weald Basin Pro Forma Adjustments		Pro Forma as Adjusted
OPERATING EXPENSES:
	Depreciation	$	148		$	—			$	—	$	148
	Exploration	239			—				—		239
	General and administrative	7,946			(174		)	(e)	—		7,772
	Loss on sale of assets	316			—				—		316
	Total operating expenses	8,649			(174		)		—		8,475
	Loss from operations	(8,649		)	174				—		(8,475		)
OTHER (EXPENSE) INCOME:
	Loss on investment in securities	(15,087		)	—				—		(15,087		)
	Fair value revision of contingent consideration payable	1,888			—				—		1,888
	Other income	252			—				—		252
	Total other (expense) income	(12,947		)	—				—		(12,947		)
	Loss from continuing operations, before tax	(21,596		)	174				—		(21,422		)
	Income tax expense	—			—				—		—
	Loss from continuing operations, net of tax	(21,596		)	174				—		(21,422		)
	Preferred stock dividends	(1,740		)	1,740			(c)	—		—
	Net loss attributable to common stockholders from continuing operations	$	(23,336	)	$	1,914			$	—	$	(21,422	)
	Basic and diluted loss per common share attributable to common stockholders from continuing operations	$	(4.09	)							$	(3.75	)
	Weighted average number of basic and diluted shares outstanding	5,710,288									5,710,288