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JK 97-57 assets included a refinery located at Freeport in the Bahamas. I took part in the negotiations to Rurchase Carey and these negotiations culminated in the acquisition by Charter of Carey assets as of September 2l, l979. At this time, Carey was, under Bahamian laws, in a form of bankruptcy having defaulted on payments to National Oil Corpora- tion of Libya and National Oil Company of Iran for purchases of crude oil for the Freeport refinery. : The purpose of Charter purchasing Carey was among other things that Charter management felt that with its expertise in buying crude oil and refining it, .they could make a profit where Carey had previously. : failed. : "It is noted that Charter Oil Company's manage- ment decision to purchase Carey Energy Corporation. and the negotiations that followed were totally unrelated to any contacts I had with Billy Carter or any of his associates. "To the best of my recollection, several weeks prior to August 17, l979, I received a telephone call from Jack McGregor. McGregor was a former vice president of New England Petroleum Company, a subsidiary of Carey. Jack McGregor advised me that Billy Carter was an old Marine Corps buddy of his. I knew from newspaper accounts that Billy had hosted. a Libyan trade delegation in Georgia, and appeared to have a line of communication with at least some Libyan Government officials. McGregor told me that Biliy could arrange for the purchase of Libyan crude oil through his sources. The fact that Billy Carter would profess to have such contacts was not unusual to me in that I routinely received calls from individuals known to me to not be in the oil industry or having any knowledge of crude oil purchases, yet professing to have contacts to obtain oil. During this telephone conversation with McGregor, a meeting was scheduled. for August 17, l979, with Billy Carter at Americus, Georgia, to follow up on this potential opportunity. nOn August'17, 1979, Jack McGregor and I met Billy Carter and his associate, Henry Randolph Coleman,? better known as Randy, at Billy Carter's residence. At this meeting, Billy told us he had strong contacts with Libyan political officials. He represented, among other things, that he could obtain contracts for Libyan oil which would not be embargoed. By this