I think you will find the royalty will be on a nett basis - i did some research before i bought into epg some time ago
It seemed quite specific to me as it is also tied into how w.a. calculates their royalties, and what i read it was fairly specific and also implied that it would be nett well head royalty-calculations as to what expenses are allowed would be open to some conjecture by the look of it- w.a. dept seem to take it on a case by case basis so the actual deductions allowed would be the same as determined by the department i believe!
Epg , whilst trying to light a fire, seemed to have the petrol container spill onto their own hands (as they also stated that "even though we have been referring to it as nett well head royalty we really want it to be on gross value -well who wouldnt!)- I have a vested interest in it being on gross value as I would have more upside in fitzroy than downside in bru - but i would say I have no legal training at all to count on in these matters!
BRU Price at posting:
$2.44 Sentiment: LT Buy Disclosure: Held
