Ann: Project Financing with DBP Philippines , page-18

I am not 100% I am comparing like with like - I put these together in 2012 after the adjust made between the h1 and h2. The tricky bit is backing out the psc cost gas, the psc income tax, and the psc profit tax to the Indonesians. I think EWC report the result of the psc after all of these items - but then they add back cost gas to the revenue (as they get the revenue) and then take it off it again as cost. I have just unbundled it in my numbers. I believe the split looks like this:

Profit Gas Before Tax
EWC 72%
BPMIGAS 28%

Profit Gas Before Tax
Income tax rate 44%
EWC 40%
BPMIGAS 60%

Anyway take them for what you think they are worth.