GREY:ROAOF - Post by User
Post by
slamdanceon Feb 11, 2006 8:24am
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Post# 10332733
Ringed fence question
Ringed fence questionAs I understand it write-offs for drilling expenses can not be can not be used beyond the block on which it occurs - i.e. against gains from commercial production. Can the losses be sold to the "owner" of the block for future use and how long would these losses be good for as far as deductions against future production. Also, if you learn something about the geology that is used to find oil on the same trend but in a different block can some of the expenses be deducted?