brr summary, page-6

9lives

I personally take that as CVI's cost is $100mil each lease. After all, if we are talking billions for large companies to secure offshore leases, surely $100mil would be CVI's percentage cost. Regardless, the cost is usually linearly related to the returns - that is, the higher the cost, generally the greater the returns. So if it costs us $100mil to secure a lease that has a value of several $bil to CVI, then I'm happy to pay it.

Also, diamonds - the key to me was AFTER TAX SURPLUS of $250mil+ over 8 years for a capital outlay of < $30mil. Now that is a great return!

Cheers