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1. Purpose


Gas Exploration in New Zealand - Supplementary Report

Ernst & Young Limited
[ Last Updated 24 November 2005 ]


Our modelling has shown that the impact on the economics of our base case projects of removing the AVR royalty is relatively minor.1

Consequently, the project group has evaluated various combinations of changes to the AVR and APR royalty regimes. This supplementary report summarises those findings and also provides additional analysis around the impact of specific measures on sample project economics and government revenue.


1The assumptions underpinning our modelling results are summarised in the Annex.



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