Haha, it looks like a lot of people were pretty upset. My question mainly came from my experience calculating POE.v SRB in 2008. The key point I don't like about SRB is that it rises rapidly when oil price rises and production rises. That's exactly the exciting moment an oil company makes a lot of money, the government comes and takes money away forcefully. Also the rate is incremental I believe, it is designed to rise year after year, using the accumulated production if I remember correctly. In the early day, the rate is low, as the field matures, the rate keeps rising. My SRB experience was based on onshore drilling, offshore could be different.
I could be wrong, but I challenge every CEN.to shareholder to get an answer to this question.
What is SRB rate when CEN.to is pumping 20K, 30K, 50K bpd at 100, 125 and 150 oil price and what is the net after tax cashflow? Just like my good friend Digitech/oullins did to MMT.v?
Frankly I believe CEN.to should have provided some guidance on this question. POE did so in 2008. Doing nothing makes me feel uneasy.
As for Chevron and Total operated in Thailand. BP and PetroChina are operating in Iraq for 1 dollar flat service fees, it doesn't mean Iraq has good taxation on oil drilling.
Personally I am also very interested in finding out these parameters. It would help everyone, including myself, to see the big picture of CEN.
Buy cheap, undiscovered stocks!
Disclosure: I usually own the stocks I post the most. The more I discuss, the more shares I own. Do you own DD before placing the trades.
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