RE:RE:RE:RE:Stong QDid you already know the Q2 ? How do you know, they're not making money. Ever compared the shareholders equity of 2022 vs. 2023 ?
Taxrate is 50% in Thailand, coperate tax in Canada is combined around 30%. The reason, why you didn't see big tax hits in canadian oilers, are their (better: many of them) taxpools (=never made money in the past) and/or their big capex bills.
But...nothing in this world is 4free...the workers etc. in Thailand are cheaper, than in Canada/US.
A company paying taxes without income ? VAT, big gains last year, loss this year, book gains...seen it a billion times.
To sum it up: The (sustaining) capex is low, the opex is low (at least for offshore), the taxes are in the middle of the range (you can enjoy 80-90% in the North-Sea, if you like) and the actual valiuation is a joke, most probably, because a bigger address sold a position over the last few month.