I noticed a post the other day by Tricha that queried the...

I noticed a post the other day by Tricha that queried the figures indicated in PPP's quarterly report as follows :
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"Dam confusing.

NZO's 12.5% take

NZOG’s Tui revenue for the year ended 30 June 2008 was $222.8m‡.

PPP's 10% take should for the same period be 180 million."
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I did wonder myself at the time. But I also wonder if like is being compared to like.
NZOG is talking about revenue from TUI being NZ$222.8m. That is from 1.78 million barrels of oil.
Therefore the average revenue per barrel was NZ$125.17

Let's work with that same revenue figure (which I am assuming is the revenue after production costs have been taken out) for PPP's share at 10 %
So PPP would have got 1.423 M barrels, or let's say 1.4 mbo for simplicity. That would mean a revenue from TUI of NZ $175.2 million

But of course PPP's information is recorded in AU $ and maybe that is where some of the confusion comes in (if there is confusion)
And, of course NZOG is talking about straight revenue before any taxes or royalties are taken out.
PPP, on the other hand, has simply shown the cash on hand after various things have been done.
The Annual Report will show the figures in a way that more direct comparison between NZOG figures and PPP figures can be made. I would hope.