highly significant oil discovery.., page-14

Hi Ciggys,


Have been researching a little overnight and it appears that the Indian Government is very keen to attract oil explorers to its shores. In fact the NELP program (New Exploration License Policy) has been offered for a number of years now, calling for expression of interest. It offers a number of concessions to explorers. Hardie's balance sheet is showing payments to the Indian government between 30 and 40 percent of their net profit. I am no expert so perhaps someone else could give us more details. At any rate it would be good to get more sustained and documented information from Mushahie's regarding fiscal terms both in India and Indonesia. I doubt that any company would even bother applying for licenses if these governments were not willing to offer substantial concessions to foreign explorers.
cheers, Alimike