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The origin of this debate was your comment of 'NPV means Net PRESENT Value, so the present value/profit of the project today, not at first oil or any other time.'

I assume from your last few posts that you now realise FAR are showing a NPV value at first oil not as at today?

At the end of the day why don't FAR just show a nice simple NPV figure as at today like you (and I) would expect an NPV to show?

Smoke and mirrors to show a bigger number and hope people don't read the fine print? Allows them to exclude expenses and interest in the lead up to First Oil by showing an oxymoron future 'present' value.

Sure showing the bigger future figure demonstrates the project grow in value over time but no crap, that is what you expect when you are using a discount factor of 10% per year for 3 years.