Ann: International Update , page-20

Surehaus, I do not claim Tullow Oil is an oil major, as you listed several of, but TLW, a FTSE 100 index co with a 12.5 billion pounds Market Cap, is no oil junior either and are currently THE big player in East Africa and a big player for Africa in general what with their 70,000 bpd Jubilee field off Ghana now looking to ramp up to 120,000 bpd next year and they just recently across the Atlantic made a massive new wildcat find [a new oilfield] off French Guyana; quoted by their CFO as the biggest ever French oil dicovery.
As for your observation regards the new onshore PRRT _
"The various tax that the government implements are there for a reason" _
Yes and the reason is painfully obvious to us shareholders of oil&gas companies.
It is an anti-capitalism redistribution of wealth and a plundering of the scant profits our energy companies have made after having paid all the substantial development costs, royalties and income taxes already and then the socialist Federal Govt will continue to redistribute this tax as efficiently as it usually does to the poor and needy [irony and sarcasm here].
This is shareholders' funds [our money!] that BPT are taking all the RISKS with, not the Fed Govt's funds; no RISK for them at all if BPT fail!
and this Surehaus from you.....
"The taxes are a good way to protect our national interest I think."

How on earth then is the excessive over-taxing of us shareholders of BPT, helping our [you and I] interests?

So why impose an extra "super profits tax" on resource companies and not for every other company in every sector in Australia?
The big four banks pay out huge shareholder dividends each year?

Anyway this quote below by Reg Nelson, from a recent Bloomburg.com/news article, would appear to indicate that Jimace's assertion that "Australia is a mess" is not far from the mark, note the last sentence quote re East Africa:-

Egyptian Production:-
Beach expects the start of output at its Egyptian oil project with partner BP Plc by early next year after at least 12 months of delays, Nelson said. The company’s share is likely to start at “several hundred” barrels a day and “increase substantially” with development of nearby fields, he said.

The partners plan to develop another discovery in the Gulf of Suez area, he said. London-based BP has 50 percent of the North Shadwan venture, while Tri-Ocean Energy has 30 percent.

The Australian oil and gas producer, seeking to expand next year in Egypt and Tanzania, also expects to drill four more wells at its Abu Sennan project about 300 kilometers (185 miles) west of Cairo after two discoveries, Nelson said."

“We’ll see some good news coming out Egypt, with new discoveries and imminent production,” he said.
“Our aspiration is to become a specialist in East Africa.”

http://www.bloomberg.com/news/2011-12-21/beach-expects-gas-prices-shale-investment-in-australia-to-rise.html