Daddy,Let me take up just the two specific points you made...

Daddy,

Let me take up just the two specific points you made regarding some costs...the balance of your post was a generalisation, albeit with some good points, but par for the course with anyone who understands investing in the industry.

Did you know that the Galoc operator is only responsible for the cost of support services to the FPSO until the oil comes on line...source: read OEL's "Open Brief" ann from early Sept...discussed on these threads just a few days ago.

Did you know that the contractors take will be 70% of revenue until all contractor development costs are recovered, no time limit.
Upon contractor development costs payback, the PP Gov will take 60% of revenue leaving 40% for the contractors, and the gov will pay the 32% PP tax for all contractors from it's 60% share of the revenue...that's right, contractors receive 40% of total revenue effectively tax free. A better deal than working in Oz!
PP Gov also proposing to lower the tax rate to 30%, but I can find no documentation to determine how this will/if affect the contractors take...it may not, 60/40 is still 60/40 if you know what I mean.

NDO have stated numerous times...approx 100 days to repay costs, and I would say that what has happened to the POO and the AUD won't have changed that dramatically.

Sonny.