WEL 0.00% 0.4¢ winchester energy ltd

Ann: Annual Report to shareholders, page-2

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    Well I guess the 3% royalty amounts are covered by this nice little 4.6% tax exemption the Varn project attracts in Texas. Very nice.

    "secondary recovery operations are encouraged by the Texas State Government, exemplified by
    the fact that they are exempt from the usual 4.6% severance tax"
 
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