Latest ann reports royalty tax has been reduced from 12.5% to effect 3.2%. Assuming Euroz is right this is good news, from the report:
"Revised royalty bill in parliament (to reduce to 5% from 12.5%), if approved it would add $0.21/sh to
our valuation."
if 5% tax was worth 21cps then 3.2 must be better. Though the market must've factored in some success beforehand hence the a lower rise in the share price today.
IPM
incremental petroleum limited
