sum of the parts, page-11

Dazed, another thing to remember is that your base to compound from each year will be reduced by tax. The adani royalty base each year is compounding by CPI and not influenced by tax. I also thing the 2.00 cost base is from time of sale, it should already be higher. Also like to know which bank deposit is paying 10%.

I agree with your logic re O&G and management concerns. Whatever possessed PB to invest 500 mil in oil in the first place is beyond me.