there is a report in the Aust that BG will still go ahead."...BG...

there is a report in the Aust that BG will still go ahead.

"...BG Group spokesman Mark Todd said the proposed reforms did not change his company's commitment to pushing ahead with its Queensland Curtis CSG project...."

I think it will not be an effect of straight 40%, because coys will be able to w/off exploration and dev't costs.

Also I read an article where Clive Palmer said mining coys would pay 70% tax - 30% Corprate plus 40% Super profit tax.

But that B.S.

My understanding is that coys will pay a reduced rate of corporate tax (i think 30% reduces to 28%), but coys producing non-regenerative resources ie mining and oil,gas etc will pay 40%.
But also its taxed at the production level - ie at the mine level.
With CSG, they are not sure if taxed at field level (upstream) or at LNG plant level (downstream)

I personally think that if the LNG projects are robust and profitable, that they will still go ahead.

The media still are not focussing on the fact that Aust is still a stable environment.

Asian buyers, particularly Chinese and Japanese crave for stable L/T supply and L/T relationships.

Who would really want to invest in oil in say Nigeria, where the locals drill a hole in the pipeline and syphon out the fuel???

What about PNG - good at the moment, but remember Bougainville?

Pick an African state - and pick the Dictator - then pick the next coup!

Whilst we still are stuck with an incompetent Federal Govt, we are still a better place to invest than most countries.

I will still be taking up my WCL rights, as WCL still has an exciting calender 2010 ahead, and Asia will still want our gas.

cheers


http://www.theaustralian.com.au/business/in-depth/coal-seam-gas-industry-put-at-risk/story-fn5eo6td-1225861774452