drilling results....good or bad, page-41

Hi Gdaf, each to their own opinion and you may be right in the long term.

I however don't agree and think the implementation is wrong. Even in Mr Henry's last announcement I detect a shift when he said the Govt would levy "a 40 per cent tax on "super profits" while allowing rebates on state royalties and capital expenditure".

When it was first announced I don't believe the rebates were there and it was additional to the royalties paid to states.

If this is a new adjustment I wonder what that will do to the bottom line as it will reduce the take of the tax. Does anyone know if the rebates as I describe are new or were they always there?

Regards