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      "text": "Senegal Contingent Proceeds: Earn-out consideration related to completed sale of Sangomar asset to Woodside; assumes first oil achieved in 2023 as per Woodside public guidance.",
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      "text": "Corporate G&A: Capricorn 2021A recurring departmental expenses & corporate projects (US$43.4 million) capitalised at ~3x multiple.",
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      "text": "UK Contingent Proceeds: Earn-out consideration related to completed sale of Catcher and Kraken assets to Waldorf Petroleum; production estimates based on input from leading oil & gas research consultancy.",
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      "text": "Egypt Producing Assets: Palliser’s asset-level cash flow model for Capricorn’s Western Desert concessions is based on broker consensus production and cost profiles...",
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      "text": "Other Liabilities: Reflects Capricorn’s reported UK decommissioning provisions (US$2.2 million) plus undiscounted remaining exploration commitments in Egypt; assumes 7 wells remaining at estimated US$5.8 million cost per well.",
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      "text": "Oil price assumption derived from Brent forward curve as of 8 August 2022; GBP/USD exchange rate of 1.20; 10% discount rate assumption applied; Capricorn share count of c.315 million shares as per latest RNS disclosure.",
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      "text": "Monetisation of CNE Exploration Assets: Reflects potential to monetise Capricorn’s global portfolio of exploration licenses in the UK, Israel, Mexico, Suriname and Mauritania.",
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