FEC Resources Inc. (FECOF)

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There is a growing economy in its backyard, like China and the region, so of course there is interest especially from major players like BHP Billiton Ltd., Exxon Mobil [Corp.] and Shell Philippines Exploration B.V.," said Rufino B. Bomasang, executive chairman of Norasian Energy Ltd., in a telephone interview.
He added the country has "one of the most attractive incentives in contracting."
An energy official concurred. "There could be a few reasons why the Philippines is attractive to investors. One is that we have one of the better fiscal regimes. For example we have a 60-40 sharing of net proceeds -- 40% to investors -- compared to the 85-15 in Indonesia," Energy Undersecretary Jose M. Layug, Jr. said in a separate interview.
Presidential Decree 87 gives exploration investors 40% share of net income and exempts them from all taxes except income tax, as well as from duties and compensating tax on the importation of machinery and equipment.
Mr. Layug also noted that the Philippines offers sufficient potential exploration sites to retain investor interest, describing it as an "underdeveloped territory" in this regard.

i thought it was 50%.........40%,,,,,well i guess i could live with that...fewer taxes should help......you pump it out for them..they get 60%.another 25 to 30 % income tax on your share...........so what are you left with?? Global incentives for business are disappearing everywhere.