Under international financial reporting standards, which of the following situations does NOT require the recognition of a provision, but rather the disclosure of a contingent liability?

On December 15, 20X4, a customer filed a legal claim against Alpha Co for $250,000. Legal advisors assess a 65% probability that the company will lose the case, and legal costs of $15,000 will be incurred regardless of the outcome. Alpha Co has an insurance policy that will likely reimburse $200,000, but the reimbursement is deemed 'probable' and not yet 'virtually certain'. What is the correct accounting treatment under international standards for the year ended 31 December 20X4?

On 1 October 20X3, Xplorer commenced drilling for oil from an undersea oilfield. The extraction of oil causes damage to the seabed which has a restorative cost (ignore discounting) of $10,000 per million barrels of oil extracted. Xplorer extracted 250 million barrels of oil in the year ende d 30 September 20X4. Xplorer is also required to dismantle the drilling equipment at the end of its five-year licence on 30 September 20X8. This has an estimated cost of $30m. Xplorer's cost of capital is 8% per annum and $1 has a present value of 68 cents ($0.68) in five years' time. What total provision (extraction plus dismantling) should Xplorer report in its statement of financial position as at 30 September 20X4 for its oil operations?