hassko,I would dearly love to see your alternative figures,...

hassko,

I would dearly love to see your alternative figures, please share your wisdom and show your numbers. Why not contribute instead of criticizing?

HDR has been losing money for 10 years during its exploration phase. They won't have to worry about tax for a while. I don't have time to do a detailed calculation of capital costs so I assumed 20% of revenues would go to recovering development costs, which would cover $13m a year for the JV. I don't know how much it would cost to develop, but given its onshore Aus location and the existence of a well hole, I don't think the costs will be that great.