Harlee,
That is my understanding, except that more oil sooner is still the best way to go, just like more salary and sooner despite the higher tax rates.
I had a look on the stockhouse site. Latest discussion there suggests Wellington out of step with other brokers on SRB interpretation/calculation.
Also people there point to a response from the company suggesting other brokers have it right, to the valuations in the recent reserves report, and to Carnarvons reference to 30% after govt take (which of course implies a specific production level).
Hard to know who is right imho, with all the jiggery pokery adjustments like for cpi, ppi and currency since permit award etc.
EL
tax production rig , page-12
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