Ann: Chairman & CEO AGM Address, page-72

Before you reply...Cmon...have you taken into consideration that
AKK ..internal rate of return calculations took into account..deductions for

1. Royalty of 25%
2.Severance Tax..2%
3.Well operation costs of $3000/month..

Do not forget that any of the Big 4 Aussie Banks would kill
for the projected IRR for these wells..given that the Banks
generally look at around 30%IRR..at best..
as being the yardstick for shareholder return..within a constrained
Financial environment..etc.

Cheers