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

Annual report pursuant to Section 13 and 15(d)

Acquisitions and Divestitures (Tables)

Acquisitions and Divestitures (Tables)

12 Months Ended

Jun. 30, 2013

The following table summarizes the allocation of the consideration received for the assets transferred as a result of the Santos SA as of June 30, 2012.



	Total
	(In thousands)
Consideration received:
Net purchase price per Santos SA	$	25,493
Purchase price adjustments	1,138
Total	$	26,631

Allocation of the consideration received to fair value of assets:
Proved oil and gas properties (Palm Valley)	$	3,403
Unproved oil and gas properties (Dingo)	2,957
Land, buildings, and equipment (Palm Valley)	370
Total allocation of the fair value received	6,730
Mereenie liabilities given up, net (including basis in properties exchanged and allocated goodwill)	2,805
Gain on sale of assets	(36,166		)
Total	$	(26,631	)

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures

The accounting for this transaction is set forth in the table below:



	Total
	(In thousands)
Cash consideration received	$	5,000
Net book value allocated to Deep Intervals	(829		)
Transaction costs	(162		)
Gain on sale recognized	$	4,009

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The table below summarizes the consideration paid to the Nautilus Sellers under the Nautilus PSA and the estimated fair value of the assets acquired and liabilities assumed for the working interests acquired from NT.



	NT non- controlling interest in NP		NT working interest in Poplar		ER non- controlling interest in NP		Total
	(In thousands)
Consideration paid to the Nautilus Sellers ⁽¹⁾:
Cash consideration	$	1,920	$	823	$	1,257	$	4,000
Share consideration ⁽²⁾	907		389		526		1,822
Fair value of contingent consideration payable	1,993		854		1,304		4,151
Total	$	4,820	$	2,066	$	3,087	$	9,973

							Total
							(In thousands)
Allocation of the consideration paid to the fair value of assets:
Oil and gas assets (proved)							$	1,462
Oil and gas assets - Deep Intervals (unproved)							679
ARO liability							(75		)
Total							$	2,066

⁽¹⁾ Excludes transaction costs.

⁽²⁾ Common stock valued at $1.54 per share closing price on the date of the transaction.

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

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