first offload of oil, page-25

I would think Cue has quite considerable NZ tax losses available and it could be a good while before any tax starts to be payable, and in the first year that the tax does become payable, only then will they start to pay provisional corporate tax in instalments. That would be year 2 of production at the very minimum.

I am prepared to take a watching brief on this one EL and see how it goes. Maybe I need to study it a little more closely. Quarterly reports are due shortly, so that may provide some more info for us.