RE:RE:RE:RE:RE:RE:RE:Looking GoodI don't believe anyone lied braincloud, especially since I've the utmost respect for the CFO, whom I've spoken to on a number of occasions, not related to this company.
I'm trying to understand the discrepancy as are many others and would really prefer the actual
crux of the disagreement, instead of just the $250mm capex. The PSC is confusing to say the least.
Profit as you should know includes non-cash items. The PSC does not refer to earnings but it does refer to profit tax. Depletion is unrelated to capex but it is related to profit.
I can't see it possible that the government could dispute 100% of the capex, possible that they could dispute a percentage... due to interpretation.
If you could, would you mind posting the reference in the PSC that shows the exclusions to
operating expense, or could you post the link to the PSC itself ? Thanks