Not the easiest tax code to get to grips with that’s for sure!
But IF the final reduction is only 8.15%, that’s the equivalent to $8 mill for every $100 mill spent on development which I think is a very workable number.
From memory, HHR’s initial numbers had the project generating 40-50% Pre tax return at 70p/therm.
Take the higher gas price and the toll charge saving from owning the pipeline into account and I think Rock Rose would be quietly confident that this can get up.
Viaro Energy Strategy, page-126
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