There is a considerable body of opinion that is growing day by...

There is a considerable body of opinion that is growing day by day that this supertax levy on resources will not last very long. Maybe this and the next parliamentary period only.

So CXY holders should note that not only has CXY got to actually achieve a profit at all . . . currently forecast around 2013/4, but it also has a trick up its sleeve to put that date off as well.

Because of the way that former Directors transacted the purchase of Cougar Energy the company is entitled to use a considerable pile of tax losses against its future operational profits.