update re: potential partership with israel, page-15

psi,

FLNG is covered by PRRT but it is a flawed tax. No need to take my word for it as Mr Henry said so in the Henry Report.

PRRT is designed to collect 40 cents in the $ but in practice collects 10 cents in the $.

And on LNG, next to nothing on Pluto, Ichthys, Wheatstone and something on Gorgon in about 30 years when it is well off plateau. .

And now NWS is included in PRRT rather than under the royalty arrangement previously in place, NWS will now cease to pay any royalty.

PRRT was used as the basis for the flawed MRRT which is why MRRT failed to collect one cent in the first period.

If a company is paying MRRT or PRRT on LNG, it is not managing its business properly.