Chad-Cameroon Case Exhibits for Class discussion

Chad-Cameroon Case Exhibits for Class discussion - Exhibit...

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Exhibit 2a 1 Revenues $185,527  $36,586  $15,955  Costs and other deductions 165,678 29,600 9,207 Depreciation, deletion, and amortization 8,304 2,866 937 Interest and debt expenses 695 472 657 Total costs 174,377 32,938 10,801 Income before income taxes 11,150 3,648 5,154 Incomes taxes 3,240 1,578 1,837    Net income 7,910 2,070 3,317 Source:   Company Annual Reports. a. As of December 31, 1999. b. As of March 31, 2000, exchange rate US$1.00 = Malaysian Ringgit (RM) 3.80 Exhibit 2a    Summarized Income Statements for Project Sponsors ($US in millions) ExxonMobil a Chevron  a Petronas  b
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Exhibit 2b 2 Assets      Current assets $31,141  $8,297  $13,379       Fixed assets less depreciation and depletion 94,043 25,317 15,988      Other assets 19,337 7,054 2,621 Total assets 144,521 40,668 31,994 Liabilities      Current liabilities 28,163 5,455 8,377      Total debt 18,972 8,608 10,455      Other liabilities 33,920 8,856 2,567 Total liabilities 81,055 22,919 21,399 Shareholders’ equity 63,466 17,749 10,595 Total liabilities and shareholders’ equity 144,521 40,668 31,994 Number of employees 80,000 31,000 18,500 Numbers of common shares outstanding (mil.) 3,477 713 n/a Stock price as of December 31, 1999 $80.56  $86.63  n/a AAA AA BBB Source:   Company Annual Reports. a. As of December 31, 1999. b. As of March 31, 2000, exchange rate US$1.00 = Malaysian Ringgit (RM) 3.80 Exhibit 2b   Summarized Balance Sheets for Project Sponsors ($US in millions) ExxonMobil a Chevron a Petronas b
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Exhibit 3a 3 Debt  $0  $199  $1,201  Equity 1,521 123 680 Total Capital 1,521 322 1,881 Debt/Total Capital 0% 62% 64% Exhibit 3a    Corporate Structure
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Exhibit 3b 4 Uses of Cash Sources of Cash Field System Debt:     Chad $1,521  40.8%      Capital markets bond $400  10.7%      IFC A - Loan 100 2.7 Export System      IFC B - Loan 300 8.1     Chad 229      Export credit agencies loans 600 16.1     Cameroon 1,338             Total 1,400 37.6         Subtotal 1,567 42.1   Interest and finance costs 458 12.3      ExxonMobil 883      Petronas 772 Debt service reserve fund 177 4.8      Chevron 551         Subtotal  2,206 59.2         Project Total 3,723 100     Chad Government          IBRD 33          EIB 15             Subtotal 47 1.3     Cameroon Government          IBRD 44          EIB 27              Subtotal 70 1.9              Total 2,323 62.4              Project Total 3,723 100 Source:  The World Bank and IFC Project Appraisal Document, April 13, 2000, Annex 3. a. Portions of equity financing to be provided as subordinated loans and other forms of quasi equity.
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This note was uploaded on 09/16/2011 for the course F 112 taught by Professor Ans during the Spring '11 term at IIM Bangalore.

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Chad-Cameroon Case Exhibits for Class discussion - Exhibit...

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