Professional Documents
Culture Documents
Year Unit 0 1 2 3 4
Revenue
Oil Production BPD - 20000 20000 20000 20000
Oil Price US$/BBL 75 75 75 75 75
Total Revenue MM US$ - 547.5 547.5 547.5 547.5
Expense
Capital Expenditure (CAPEX) MM US$ 550 - - - -
Well Cost MM US$ 20 - - - -
Mobilization of the rig MM US$ 10 - - - -
Prospectivity 7- - - -
Platform MM US$ 400 - - - -
Operation Expenditure (OPEX)
OPEX Cost MM US$ - 109.5 109.5 109.5 109.5
Total Expense (CAPEX and OPEX) MM US$ 550 109.5 109.5 109.5 109.5
Emission Cost
Emission of Oil ton CO2eq/bbl 0.02 0.02 0.02 0.02 0.02
Emission price US$/t CO2eq 20 20 20 20 20
Total Emission Cost MM US$ 2.92 2.92 2.92 2.92
Discount Rate and Tax
Discount Rate % 15% 15% 15% 15% 15%
Tax and Royalties % 45% 45% 45% 45% 45%
Economic Analysis
EBITDA US$1MM -550 435.08 435.08 435.08 435.08
Tax and Royalties US$1MM -247.5 195.79 195.79 195.79 195.79
Net Profit US$1MM -302.5 239.29 239.29 239.29 239.29
NPV of Profit US$1MM -302.5 208.08 180.94 157.34 136.82
NPV 20 Years US$1MM 1195.32
NPV Taxman
Tax Received US$1MM -247.5 195.79 195.79 195.79 195.79
NPV of Tax Income US$1MM -247.5 170.25 148.04 128.73 111.94
NPV 20 Years US$1MM 977.99
5 6 7 8 9 10 11 12 13 14
20000 20000 20000 20000 20000 20000 20000 20000 20000 20000
75 75 75 75 75 75 75 75 75 75
547.5 547.5 547.5 547.5 547.5 547.5 547.5 547.5 547.5 547.5
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5
109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5
0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02
20 20 20 20 20 20 20 20 20 20
2.92 2.92 2.92 2.92 2.92 2.92 2.92 2.92 2.92 2.92
15% 15% 15% 15% 15% 15% 15% 15% 15% 15%
45% 45% 45% 45% 45% 45% 45% 45% 45% 45%
435.08 435.08 435.08 435.08 435.08 435.08 435.08 435.08 435.08 435.08
195.79 195.79 195.79 195.79 195.79 195.79 195.79 195.79 195.79 195.79
239.29 239.29 239.29 239.29 239.29 239.29 239.29 239.29 239.29 239.29
118.97 103.45 89.96 78.23 68.02 59.15 51.43 44.73 38.89 33.82
195.79 195.79 195.79 195.79 195.79 195.79 195.79 195.79 195.79 195.79
97.34 84.64 73.60 64.00 55.65 48.40 42.08 36.59 31.82 27.67
15 16 17 18 19 20
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
Tax/Royalties
Increase 30%
Parameter Company Taxman
Discount Rate 889.85 728.06
Price 1760.77 1440.63 Emission Price
CAPEX 1104.57 903.74
OPEX 1082.23 885.46
Emission Price 1192.3 975.53
Tax/Royalties 901.92 1271.39
OPEX
Production 1757.76 1438.16
Increase 30%
Parameter Company Variance
Baseline 1195.32 CAPEX
Discount Rate 889.85 -25.56
Price 1760.77 47.31
CAPEX 1104.57 -7.59
OPEX 1082.23 -9.46 Price
Emission Price 1192.3 -0.25
Tax/Royalties 901.92 -24.55
Production 1757.76 47.05
Discount Rate
Increase 30%
Parameter Taxman Variance
Baseline 977.99 -50.00
Discount Rate 728.06 -25.56
Price 1440.63 47.31
CAPEX 903.74 -7.59
OPEX 885.46 -9.46
Emission Price 975.53 -0.25
Tax/Royalties 1271.39 30.00
Production 1438.16 47.05 Production
Tax/Royalties
Production
Decrease 30%
Parameter Company Taxman Tax/Royalties
Decrease 30%
Parameter Company Variance
Baseline 1195.32 CAPEX
Discount Rate 1667.11 39.47
Price 629.87 -47.31
CAPEX 1286.07 7.59
OPEX 1308.41 9.46 Price
Emission Price 1198.34 0.25
Tax/Royalties 1488.72 24.55
Production 632.88 -47.05
Discount Rate
Decrease 30%
Parameter Taxman Variance -50.00
Baseline 977.99
Discount Rate 1364 39.47
Price 515.35 -47.31
CAPEX 1052.24 7.59
OPEX 1070.52 9.46
Emission Price 980.46 0.25
Tax/Royalties 684.59 -30.00
Production 517.81 -47.05
Base
Year Unit 0 1 2 3 4
Revenue
Oil Production BPD - 20000 20000 20000 20000
Oil Price US$/BBL 75 75 75 75 75
Total Revenue MM US$ - 547.5 547.5 547.5 547.5
Expense
Capital Expenditure (CAPEX) MM US$ 550 - - - -
Well Cost MM US$ 20 - - - -
Mobilization of the rig MM US$ 10 - - - -
Prospectivity 7- - - -
Platform MM US$ 400 - - - -
Operation Expenditure (OPEX)
OPEX Cost MM US$ - 109.5 109.5 109.5 109.5
Total Expense (CAPEX and OPEX) MM US$ 550 109.5 109.5 109.5 109.5
Emission Cost
Emission of Oil ton CO2eq/bbl 0.02 0.02 0.02 0.02 0.02
Emission price US$/t CO2eq 20 20 20 20 20
Total Emission Cost MM US$ 2.92 2.92 2.92 2.92
Discount Rate and Tax
Discount Rate % 15% 15% 15% 15% 15%
Tax and Royalties % 45% 45% 45% 45% 45%
Economic Analysis
EBITDA US$1MM -550 435.08 435.08 435.08 435.08
Tax and Royalties US$1MM -247.5 195.79 195.79 195.79 195.79
Net Profit US$1MM -302.5 239.29 239.29 239.29 239.29
NPV of Profit US$1MM -302.5 208.08 180.94 157.34 136.82
NPV 20 Years US$1MM 1195.320466
NPV Taxman
Tax Received US$1MM -247.5 195.79 195.79 195.79 195.79
NPV of Tax Income US$1MM -247.5 170.25 148.04 128.73 111.94
NPV 20 Years US$1MM 977.99
Increase 30%
Year Unit 0 1 2 3 4
Revenue
Oil Production BPD - 20000 20000 20000 20000
Oil Price US$/BBL 75 75 75 75 75
Total Revenue MM US$ - 547.5 547.5 547.5 547.5
Expense
Capital Expenditure (CAPEX) MM US$ 550 - - - -
Well Cost MM US$ 20 - - - -
Mobilization of the rig MM US$ 10 - - - -
Prospectivity 7- - - -
Platform MM US$ 400 - - - -
Operation Expenditure (OPEX)
OPEX Cost MM US$ - 109.5 109.5 109.5 109.5
Total Expense (CAPEX and OPEX) MM US$ 550 109.5 109.5 109.5 109.5
Emission Cost
Emission of Oil ton CO2eq/bbl 0.02 0.02 0.02 0.02 0.02
Emission price US$/t CO2eq 20 20 20 20 20
Total Emission Cost MM US$ 2.92 2.92 2.92 2.92
Discount Rate and Tax
Discount Rate % 20% 20% 20% 20% 20%
Tax and Royalties % 45% 45% 45% 45% 45%
Economic Analysis
EBITDA US$1MM -550 435.08 435.08 435.08 435.08
Tax and Royalties US$1MM -247.5 195.79 195.79 195.79 195.79
Net Profit US$1MM -302.5 239.29 239.29 239.29 239.29
NPV of Profit US$1MM -302.5 200.25 167.57 140.23 117.34
NPV 20 Years US$1MM 889.85
NPV Taxman
Tax Received US$1MM -247.5 195.79 195.79 195.79 195.79
NPV of Tax Income US$1MM -247.5 163.84 137.10 114.73 96.01
NPV 20 Years US$1MM 728.06
Decrease 30%
Year Unit 0 1 2 3 4
Revenue
Oil Production BPD - 20000 20000 20000 20000
Oil Price US$/BBL 75 75 75 75 75
Total Revenue MM US$ - 547.5 547.5 547.5 547.5
Expense
Capital Expenditure (CAPEX) MM US$ 550 - - - -
Well Cost MM US$ 20 - - - -
Mobilization of the rig MM US$ 10 - - - -
Prospectivity 7- - - -
Platform MM US$ 400 - - - -
Operation Expenditure (OPEX)
OPEX Cost MM US$ - 109.5 109.5 109.5 109.5
Total Expense (CAPEX and OPEX) MM US$ 550 109.5 109.5 109.5 109.5
Emission Cost
Emission of Oil ton CO2eq/bbl 0.02 0.02 0.02 0.02 0.02
Emission price US$/t CO2eq 20 20 20 20 20
Total Emission Cost MM US$ 2.92 2.92 2.92 2.92
Discount Rate and Tax
Discount Rate % 11% 11% 11% 11% 11%
Tax and Royalties % 45% 45% 45% 45% 45%
Economic Analysis
EBITDA US$1MM -550 435.08 435.08 435.08 435.08
Tax and Royalties US$1MM -247.5 195.79 195.79 195.79 195.79
Net Profit US$1MM -302.5 239.29 239.29 239.29 239.29
NPV of Profit US$1MM -302.5 216.56 195.98 177.36 160.50
NPV 20 Years US$1MM 1667.11
NPV Taxman
Tax Received US$1MM -247.5 195.79 195.79 195.79 195.79
NPV of Tax Income US$1MM -247.5 177.18 160.35 145.11 131.32
NPV 20 Years US$1MM 1364.00
Tornado Chart (Company)
Production
Tax/Royalties
Emission Price
OPEX
CAPEX
Price
Discount Rate
Production
Tax/Royalties
Production
Tax/Royalties
Emission Price
OPEX
CAPEX
Price
Discount Rate
5 6 7 8 9 10 11 12 13 14
20000 20000 20000 20000 20000 20000 20000 20000 20000 20000
75 75 75 75 75 75 75 75 75 75
547.5 547.5 547.5 547.5 547.5 547.5 547.5 547.5 547.5 547.5
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5
109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5
0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02
20 20 20 20 20 20 20 20 20 20
2.92 2.92 2.92 2.92 2.92 2.92 2.92 2.92 2.92 2.92
15% 15% 15% 15% 15% 15% 15% 15% 15% 15%
45% 45% 45% 45% 45% 45% 45% 45% 45% 45%
435.08 435.08 435.08 435.08 435.08 435.08 435.08 435.08 435.08 435.08
195.79 195.79 195.79 195.79 195.79 195.79 195.79 195.79 195.79 195.79
239.29 239.29 239.29 239.29 239.29 239.29 239.29 239.29 239.29 239.29
118.97 103.45 89.96 78.23 68.02 59.15 51.43 44.73 38.89 33.82
195.79 195.79 195.79 195.79 195.79 195.79 195.79 195.79 195.79 195.79
97.34 84.64 73.60 64.00 55.65 48.40 42.08 36.59 31.82 27.67
5 6 7 8 9 10 11 12 13 14
20000 20000 20000 20000 20000 20000 20000 20000 20000 20000
75 75 75 75 75 75 75 75 75 75
547.5 547.5 547.5 547.5 547.5 547.5 547.5 547.5 547.5 547.5
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5
109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5
0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02
20 20 20 20 20 20 20 20 20 20
2.92 2.92 2.92 2.92 2.92 2.92 2.92 2.92 2.92 2.92
20% 20% 20% 20% 20% 20% 20% 20% 20% 20%
45% 45% 45% 45% 45% 45% 45% 45% 45% 45%
435.08 435.08 435.08 435.08 435.08 435.08 435.08 435.08 435.08 435.08
195.79 195.79 195.79 195.79 195.79 195.79 195.79 195.79 195.79 195.79
239.29 239.29 239.29 239.29 239.29 239.29 239.29 239.29 239.29 239.29
98.20 82.17 68.76 57.54 48.15 40.30 33.72 28.22 23.61 19.76
195.79 195.79 195.79 195.79 195.79 195.79 195.79 195.79 195.79 195.79
80.34 67.23 56.26 47.08 39.40 32.97 27.59 23.09 19.32 16.17
5 6 7 8 9 10 11 12 13 14
20000 20000 20000 20000 20000 20000 20000 20000 20000 20000
75 75 75 75 75 75 75 75 75 75
547.5 547.5 547.5 547.5 547.5 547.5 547.5 547.5 547.5 547.5
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5
109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5
0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02
20 20 20 20 20 20 20 20 20 20
2.92 2.92 2.92 2.92 2.92 2.92 2.92 2.92 2.92 2.92
11% 11% 11% 11% 11% 11% 11% 11% 11% 11%
45% 45% 45% 45% 45% 45% 45% 45% 45% 45%
435.08 435.08 435.08 435.08 435.08 435.08 435.08 435.08 435.08 435.08
195.79 195.79 195.79 195.79 195.79 195.79 195.79 195.79 195.79 195.79
239.29 239.29 239.29 239.29 239.29 239.29 239.29 239.29 239.29 239.29
145.25 131.45 118.96 107.65 97.43 88.17 79.79 72.21 65.35 59.14
195.79 195.79 195.79 195.79 195.79 195.79 195.79 195.79 195.79 195.79
118.84 107.55 97.33 88.08 79.71 72.14 65.28 59.08 53.47 48.38
mpany) Company
Parameter
Discount Rate
Price
CAPEX
OPEX
Emission Price
Tax/Royalties
Production
Taxman
Parameter
Discount Rate
Price
CAPEX
OPEX
Increase 30%
Decrease 30% Emission Price
Tax/Royalties
Production
xman)
Increase 30%
Decrease 30%
15 16 17 18 19 20
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
15 16 17 18 19 20
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
15 16 17 18 19 20
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
1400.00
1200.00
1000.00
800.00
600.00
400.00
200.00
0.00
-40% -30% -20% -10% 0% 10% 20%
CAPEX OPEX
Production
Taxman)
CAPEX OPEX
s Production
NZ Gas
Year Unit 0 1 2 3 4
Revenue
Gas Production PJ Pa - 80 80 80 80
Gas Price US$/GJ 6 6 6 6 6
Total Revenue MM US$ - 468 468 468 468
Expense
Capital Expenditure (CAPEX) MM US$ 630 - - - -
Well Cost MM US$ 20 - - - -
Mobilization of the rig MM US$ 10 - - - -
Prospectivity 7- - - -
Platform MM US$ 400 - - - -
Gas Treatment Plan MM US$ 80 - - - -
Operation Expenditure (OPEX)
OPEX Cost MM US$ - 400 400 400 400
Total Expense (CAPEX and OPEX) MM US$ 630 400 400 400 400
Emission Cost
Emission of Gas ton CO2eq/GJ 0.005 0.005 0.005 0.005 0.005
Emission price US$/t CO2eq 20 20 20 20 20
Total Emission Cost MM US$ 8 8 8 8
Discount Rate and Tax
Discount Rate % 15% 15% 15% 15% 15%
Tax and Royalties % 45% 45% 45% 45% 45%
Economic Analysis
EBITDA US$1MM -630 60.00 60.00 60.00 60.00
Tax and Royalties US$1MM -283.5 27.00 27.00 27.00 27.00
Net Profit US$1MM -346.5 33.00 33.00 33.00 33.00
NPV of Profit US$1MM -346.5 28.70 24.95 21.70 18.87
NPV 20 Years US$1MM -139.94
NPV Taxman
Tax Received US$1MM -283.5 27.00 27.00 27.00 27.00
NPV of Tax Income US$1MM -283.5 23.48 20.42 17.75 15.44
NPV 20 Years US$1MM -114.50
5 6 7 8 9 10 11 12 13 14
80 80 80 80 80 80 80 80 80 80
6 6 6 6 6 6 6 6 6 6
468 468 468 468 468 468 468 468 468 468
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
400 400 400 400 400 400 400 400 400 400
400 400 400 400 400 400 400 400 400 400
0.005 0.005 0.005 0.005 0.005 0.005 0.005 0.005 0.005 0.005
20 20 20 20 20 20 20 20 20 20
8 8 8 8 8 8 8 8 8 8
15% 15% 15% 15% 15% 15% 15% 15% 15% 15%
45% 45% 45% 45% 45% 45% 45% 45% 45% 45%
60.00 60.00 60.00 60.00 60.00 60.00 60.00 60.00 60.00 60.00
27.00 27.00 27.00 27.00 27.00 27.00 27.00 27.00 27.00 27.00
33.00 33.00 33.00 33.00 33.00 33.00 33.00 33.00 33.00 33.00
16.41 14.27 12.41 10.79 9.38 8.16 7.09 6.17 5.36 4.66
27.00 27.00 27.00 27.00 27.00 27.00 27.00 27.00 27.00 27.00
13.42 11.67 10.15 8.83 7.68 6.67 5.80 5.05 4.39 3.82
15 16 17 18 19 20
80 80 80 80 80 80
6 6 6 6 6 6
468 468 468 468 468 468
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
Increase 30%
Parameter Company Variance
Price
Baseline -139.94
Discount Rate -182.07 30.11
Price 344.78 -346.38
CAPEX -243.89 74.28 Discount Rate
OPEX -553.06 295.21
Emission Price -148.2 5.90 -400.00
Tax/Royalties -109.59 -21.69
Production 335.14 -339.49
Exchange Rate -40.79 -70.85
Increase 30%
Parameter Taxman Variance Exchange Rate
Baseline -114.5
Discount Rate -148.96 30.10
Price 282.09 -346.37 Production
CAPEX -199.55 74.28
OPEX -452.5 295.20
Tax/Royalties
Emission Price
Production
Decrease 30%
Parameter Company Taxman
OPEX
Discount Rate -74.88 -61.27
Price -621.91 -508.84
CAPEX -35.99 -29.45
CAPEX
OPEX 273.17 223.51
Emission Price -131.68 -107.74
Tax/Royalties -174.29 -80.15
Price
Production -615.03 -503.2
Exchange Rate -632.38 -517.4
Discount Rate
Decrease 30%
Parameter Company Variance
-400.00
Baseline -139.94
Discount Rate -74.88 -46.49
Price -621.91 344.41
CAPEX -35.99 -74.28
OPEX 273.17 -295.21
Emission Price -131.68 -5.90
Tax/Royalties -174.29 24.55
Production -615.03 339.50
Exchange Rate -632.38 351.89
Decrease 30%
Parameter Taxman Variance
Baseline -114.5
Discount Rate -61.27 -46.49
Price -508.84 344.40
CAPEX -29.45 -74.28
OPEX 223.51 -295.21
Emission Price -107.74 -5.90
Tax/Royalties -80.15 -30.00
Production -503.2 339.48
Exchange Rate -517.4 351.88
Decrease 30%
Year Unit 0 1 2 3 4
Revenue
Gas Production PJ Pa - 56 56 56 56
Gas Price US$/GJ 6 6 6 6 6
Total Revenue MM US$ - 322.56 322.56 322.56 322.56
Expense
Capital Expenditure (CAPEX) MM US$ 630 - - - -
Well Cost MM US$ 20 - - - -
Mobilization of the rig MM US$ 10 - - - -
Prospectivity 7- - - -
Platform MM US$ 400 - - - -
Gas Treatment Plan MM US$ 80 - - - -
Operation Expenditure (OPEX)
OPEX Cost MM US$ - 400 400 400 400
Total Expense (CAPEX and OPEX) MM US$ 630 400 400 400 400
Emission Cost
Emission of Gas ton CO2eq/GJ 0.005 0.005 0.005 0.005 0.005
Emission price US$/t CO2eq 20 20 20 20 20
Total Emission Cost MM US$ 5.6 5.6 5.6 5.6
Discount Rate and Tax
Discount Rate % 15% 15% 15% 15% 15%
Tax and Royalties % 45% 45% 45% 45% 45%
Economic Analysis
EBITDA US$1MM -630 -83.04 -83.04 -83.04 -83.04
Tax and Royalties US$1MM -283.5 -37.37 -37.37 -37.37 -37.37
Net Profit US$1MM -346.5 -45.67 -45.67 -45.67 -45.67
NPV of Profit US$1MM -346.5 -39.71 -34.53 -30.03 -26.11
NPV 20 Years US$1MM -632.38
NPV Taxman
Tax Received US$1MM -283.5 -37.37 -37.37 -37.37 -37.37
NPV of Tax Income US$1MM -283.5 -32.49 -28.26 -24.57 -21.37
NPV 20 Years US$1MM -517.40
Tornado Chart (Company)
Exchange Rate
Production
Tax/Royalties
Emission Price
OPEX
CAPEX
Price
Discount Rate
Exchange Rate
Production
Tax/Royalties
Emission Price
Production
Tax/Royalties
Emission Price
OPEX
CAPEX
Price
Discount Rate
56 56 56 56 56 56 56 56 56 56
6 6 6 6 6 6 6 6 6 6
322.56 322.56 322.56 322.56 322.56 322.56 322.56 322.56 322.56 322.56
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
400 400 400 400 400 400 400 400 400 400
400 400 400 400 400 400 400 400 400 400
0.005 0.005 0.005 0.005 0.005 0.005 0.005 0.005 0.005 0.005
20 20 20 20 20 20 20 20 20 20
5.6 5.6 5.6 5.6 5.6 5.6 5.6 5.6 5.6 5.6
15% 15% 15% 15% 15% 15% 15% 15% 15% 15%
45% 45% 45% 45% 45% 45% 45% 45% 45% 45%
-83.04 -83.04 -83.04 -83.04 -83.04 -83.04 -83.04 -83.04 -83.04 -83.04
-37.37 -37.37 -37.37 -37.37 -37.37 -37.37 -37.37 -37.37 -37.37 -37.37
-45.67 -45.67 -45.67 -45.67 -45.67 -45.67 -45.67 -45.67 -45.67 -45.67
-22.71 -19.75 -17.17 -14.93 -12.98 -11.29 -9.82 -8.54 -7.42 -6.45
-37.37 -37.37 -37.37 -37.37 -37.37 -37.37 -37.37 -37.37 -37.37 -37.37
-18.58 -16.16 -14.05 -12.22 -10.62 -9.24 -8.03 -6.98 -6.07 -5.28
Company
Parameter
Discount Rate
Price
CAPEX
OPEX
Emission Price
Tax/Royalties
Production
Taxman
Parameter
Discount Rate
Price
CAPEX
Increase 30% OPEX
Decrease 30% Emission Price
Tax/Royalties
Production
56 56 56 56 56 56
6 6 6 6 6 6
322.56 322.56 322.56 322.56 322.56 322.56
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
CAPEX OPEX
yalties Production
rt (Taxman)
CAPEX OPEX
yalties Production
North Sea Oil
Year Unit 0 1 2 3 4
Revenue
Oil Production BPD - 20000 20000 20000 20000
Oil Price US$/BBL 75 75 75 75 75
Total Revenue MM US$ - 547.5 547.5 547.5 547.5
Expense
Capital Expenditure (CAPEX) MM US$ 500 - - - -
Well Cost MM US$ 20 - - - -
Mobilization of the rig MM US$ 0- - - -
Prospectivity 5- - - -
Platform MM US$ 400 - - - -
Operation Expenditure (OPEX)
OPEX Cost MM US$ - 109.5 109.5 109.5 109.5
Total Expense (CAPEX and OPEX) MM US$ 500 109.5 109.5 109.5 109.5
Emission Cost
Emission of Oil ton CO2eq/ 0.02 0.02 0.02 0.02 0.02
Emission price US$/t CO2 80 80 80 80 80
Total Emission Cost MM US$ 11.68 11.68 11.68 11.68
Discount Rate and Tax
Discount Rate % 15% 15% 15% 15% 15%
Tax and Royalties % 65% 65% 65% 65% 65%
Economic Analysis
EBITDA US$1MM -500 426.32 426.32 426.32 426.32
Tax and Royalties US$1MM -325 277.11 277.11 277.11 277.11
Net Profit US$1MM -175 149.21 149.21 149.21 149.21
NPV of Profit US$1MM -175 129.75 112.83 98.11 85.31
NPV 20 Years US$1MM 758.97
NPV Taxman
Tax Received US$1MM -325 277.11 277.11 277.11 277.11
NPV of Tax Income US$1MM -325 240.96 209.53 182.20 158.44
NPV 20 Years US$1MM 1409.51
5 6 7 8 9 10 11 12 13 14
20000 20000 20000 20000 20000 20000 20000 20000 20000 20000
75 75 75 75 75 75 75 75 75 75
547.5 547.5 547.5 547.5 547.5 547.5 547.5 547.5 547.5 547.5
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5
109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5
0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02
80 80 80 80 80 80 80 80 80 80
11.68 11.68 11.68 11.68 11.68 11.68 11.68 11.68 11.68 11.68
15% 15% 15% 15% 15% 15% 15% 15% 15% 15%
65% 65% 65% 65% 65% 65% 65% 65% 65% 65%
426.32 426.32 426.32 426.32 426.32 426.32 426.32 426.32 426.32 426.32
277.11 277.11 277.11 277.11 277.11 277.11 277.11 277.11 277.11 277.11
149.21 149.21 149.21 149.21 149.21 149.21 149.21 149.21 149.21 149.21
74.18 64.51 56.09 48.78 42.42 36.88 32.07 27.89 24.25 21.09
277.11 277.11 277.11 277.11 277.11 277.11 277.11 277.11 277.11 277.11
137.77 119.80 104.18 90.59 78.77 68.50 59.56 51.79 45.04 39.16
15 16 17 18 19 20
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
CAPEX
Increase 30%
Parameter Company Variance
Baseline 758.97
Discount Rate 568.49 -25.10 Price
Price 118.8 -84.35
CAPEX 706.47 -6.92
OPEX 687 -9.48
Discount Rate
Emission Price 751.29 -1.01
Tax/Royalties 336.11 -55.71
Production 1111.12 46.40 -150.00
Increase 30%
Parameter Taxman Variance
Baseline 1409.51
Discount Rate 1055.77 -25.10
Production
Price 2077.77 47.41
CAPEX 1312.01 -6.92
OPEX 1275.86 -9.48
Emission Price 1395.25 -1.01 Tax/Royalties
Tax/Royalties 1832.36 30.00
Production 2063.52 46.40
Emission Price
OPEX
Emission Price
Decrease 30%
Parameter Company Taxman
Discount Rate 1053.15 1955.85 OPEX
Decrease 30%
Parameter Company Variance
Baseline 758.97 Discount Rate
Discount Rate 1053.15 38.76
Price 399.13 -47.41 -60.00
CAPEX 811.47 6.92
OPEX 830.93 9.48
Emission Price 766.64 1.01
Tax/Royalties 1181.82 55.71
Production 406.81 -46.40
Decrease 30%
Parameter Taxman Variance
Baseline 1409.51
Discount Rate 1955.85 38.76
Price 741.25 -47.41
CAPEX 1507.01 6.92
OPEX 1543.16 9.48
Emission Price 1423.77 1.01
Tax/Royalties 986.66 -30.00
Production 755.51 -46.40
Baseline
Year Unit 0 1 2 3 4
Revenue
Oil Production BPD - 20000 20000 20000 20000
Oil Price US$/BBL 75 75 75 75 75
Total Revenue MM US$ - 547.5 547.5 547.5 547.5
Expense
Capital Expenditure (CAPEX) MM US$ 500 - - - -
Well Cost MM US$ 20 - - - -
Mobilization of the rig MM US$ 0- - - -
Prospectivity 5- - - -
Platform MM US$ 400 - - - -
Operation Expenditure (OPEX)
OPEX Cost MM US$ - 109.5 109.5 109.5 109.5
Total Expense (CAPEX and OPEX) MM US$ 500 109.5 109.5 109.5 109.5
Emission Cost
Emission of Oil ton CO2eq/ 0.02 0.02 0.02 0.02 0.02
Emission price US$/t CO2 80 80 80 80 80
Total Emission Cost MM US$ 11.68 11.68 11.68 11.68
Discount Rate and Tax
Discount Rate % 15% 15% 15% 15% 15%
Tax and Royalties % 65% 65% 65% 65% 65%
Economic Analysis
EBITDA US$1MM -500 426.32 426.32 426.32 426.32
Tax and Royalties US$1MM -325 277.11 277.11 277.11 277.11
Net Profit US$1MM -175 149.21 149.21 149.21 149.21
NPV of Profit US$1MM -175 129.75 112.83 98.11 85.31
NPV 20 Years US$1MM 758.97
NPV Taxman
Tax Received US$1MM -325 277.11 277.11 277.11 277.11
NPV of Tax Income US$1MM -325 240.96 209.53 182.20 158.44
NPV 20 Years US$1MM 1409.51
Increase 30%
Year Unit 0 1 2 3 4
Revenue
Oil Production BPD - 26000 26000 26000 26000
Oil Price US$/BBL 75 75 75 75 75
Total Revenue MM US$ - 711.75 711.75 711.75 711.75
Expense
Capital Expenditure (CAPEX) MM US$ 500 - - - -
Well Cost MM US$ 20 - - - -
Mobilization of the rig MM US$ 0- - - -
Prospectivity 5- - - -
Platform MM US$ 400 - - - -
Operation Expenditure (OPEX)
OPEX Cost MM US$ - 109.5 109.5 109.5 109.5
Total Expense (CAPEX and OPEX) MM US$ 500 109.5 109.5 109.5 109.5
Emission Cost
Emission of Oil ton CO2eq/ 0.02 0.02 0.02 0.02 0.02
Emission price US$/t CO2 80 80 80 80 80
Total Emission Cost MM US$ 15.184 15.184 15.184 15.184
Discount Rate and Tax
Discount Rate % 15% 15% 15% 15% 15%
Tax and Royalties % 65% 65% 65% 65% 65%
Economic Analysis
EBITDA US$1MM -500 587.066 587.066 587.066 587.066
Tax and Royalties US$1MM -325 381.59 381.59 381.59 381.59
Net Profit US$1MM -175 205.47 205.47 205.47 205.47
NPV of Profit US$1MM -175 178.67 155.37 135.10 117.48
NPV 20 Years US$1MM 1111.12
NPV Taxman
Tax Received US$1MM -325 381.59 381.59 381.59 381.59
NPV of Tax Income US$1MM -325 331.82 288.54 250.90 218.18
NPV 20 Years US$1MM 2063.52
Decrease 30%
Year Unit 0 1 2 3 4
Revenue
Oil Production BPD - 14000 14000 14000 14000
Oil Price US$/BBL 75 75 75 75 75
Total Revenue MM US$ - 383.25 383.25 383.25 383.25
Expense
Capital Expenditure (CAPEX) MM US$ 500 - - - -
Well Cost MM US$ 20 - - - -
Mobilization of the rig MM US$ 0- - - -
Prospectivity 5- - - -
Platform MM US$ 400 - - - -
Operation Expenditure (OPEX)
OPEX Cost MM US$ - 109.5 109.5 109.5 109.5
Total Expense (CAPEX and OPEX) MM US$ 500 109.5 109.5 109.5 109.5
Emission Cost
Emission of Oil ton CO2eq/ 0.02 0.02 0.02 0.02 0.02
Emission price US$/t CO2 80 80 80 80 80
Total Emission Cost MM US$ 8.176 8.176 8.176 8.176
Discount Rate and Tax
Discount Rate % 15% 15% 15% 15% 15%
Tax and Royalties % 65% 65% 65% 65% 65%
Economic Analysis
EBITDA US$1MM -500 265.574 265.574 265.574 265.574
Tax and Royalties US$1MM -325 172.62 172.62 172.62 172.62
Net Profit US$1MM -175 92.95 92.95 92.95 92.95
NPV of Profit US$1MM -175 80.83 70.28 61.12 53.14
NPV 20 Years US$1MM 406.81
NPV Taxman
Tax Received US$1MM -325 172.62 172.62 172.62 172.62
NPV of Tax Income US$1MM -325 150.11 130.53 113.50 98.70
NPV 20 Years US$1MM 755.51
Tornado Chart (Company)
Production
Tax/Royalties
Emission Price
OPEX
CAPEX
Price
Discount Rate
Production
Tax/Royalties
Emission Price
OPEX
Emission Price
OPEX
CAPEX
Price
Discount Rate
5 6 7 8 9 10 11 12 13 14
20000 20000 20000 20000 20000 20000 20000 20000 20000 20000
75 75 75 75 75 75 75 75 75 75
547.5 547.5 547.5 547.5 547.5 547.5 547.5 547.5 547.5 547.5
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5
109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5
0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02
80 80 80 80 80 80 80 80 80 80
11.68 11.68 11.68 11.68 11.68 11.68 11.68 11.68 11.68 11.68
15% 15% 15% 15% 15% 15% 15% 15% 15% 15%
65% 65% 65% 65% 65% 65% 65% 65% 65% 65%
426.32 426.32 426.32 426.32 426.32 426.32 426.32 426.32 426.32 426.32
277.11 277.11 277.11 277.11 277.11 277.11 277.11 277.11 277.11 277.11
149.21 149.21 149.21 149.21 149.21 149.21 149.21 149.21 149.21 149.21
74.18 64.51 56.09 48.78 42.42 36.88 32.07 27.89 24.25 21.09
277.11 277.11 277.11 277.11 277.11 277.11 277.11 277.11 277.11 277.11
137.77 119.80 104.18 90.59 78.77 68.50 59.56 51.79 45.04 39.16
5 6 7 8 9 10 11 12 13 14
26000 26000 26000 26000 26000 26000 26000 26000 26000 26000
75 75 75 75 75 75 75 75 75 75
711.75 711.75 711.75 711.75 711.75 711.75 711.75 711.75 711.75 711.75
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5
109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5
0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02
80 80 80 80 80 80 80 80 80 80
15.184 15.184 15.184 15.184 15.184 15.184 15.184 15.184 15.184 15.184
15% 15% 15% 15% 15% 15% 15% 15% 15% 15%
65% 65% 65% 65% 65% 65% 65% 65% 65% 65%
587.066 587.066 587.066 587.066 587.066 587.066 587.066 587.066 587.066 587.066
381.59 381.59 381.59 381.59 381.59 381.59 381.59 381.59 381.59 381.59
205.47 205.47 205.47 205.47 205.47 205.47 205.47 205.47 205.47 205.47
102.16 88.83 77.24 67.17 58.41 50.79 44.17 38.40 33.40 29.04
381.59 381.59 381.59 381.59 381.59 381.59 381.59 381.59 381.59 381.59
189.72 164.97 143.45 124.74 108.47 94.32 82.02 71.32 62.02 53.93
5 6 7 8 9 10 11 12 13 14
14000 14000 14000 14000 14000 14000 14000 14000 14000 14000
75 75 75 75 75 75 75 75 75 75
383.25 383.25 383.25 383.25 383.25 383.25 383.25 383.25 383.25 383.25
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5
109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5 109.5
0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02
80 80 80 80 80 80 80 80 80 80
8.176 8.176 8.176 8.176 8.176 8.176 8.176 8.176 8.176 8.176
15% 15% 15% 15% 15% 15% 15% 15% 15% 15%
65% 65% 65% 65% 65% 65% 65% 65% 65% 65%
265.574 265.574 265.574 265.574 265.574 265.574 265.574 265.574 265.574 265.574
172.62 172.62 172.62 172.62 172.62 172.62 172.62 172.62 172.62 172.62
92.95 92.95 92.95 92.95 92.95 92.95 92.95 92.95 92.95 92.95
46.21 40.19 34.94 30.39 26.42 22.98 19.98 17.37 15.11 13.14
172.62 172.62 172.62 172.62 172.62 172.62 172.62 172.62 172.62 172.62
85.82 74.63 64.90 56.43 49.07 42.67 37.10 32.26 28.06 24.40
Company
Parameter 30% 0%
Discount Rate 568.49 758.97
Price 118.8 758.97
CAPEX 706.47 758.97
OPEX 687 758.97
Emission Price 751.29 758.97
Tax/Royalties 336.11 758.97
Production 1111.12 758.97
Taxman
Parameter 30% 0%
Discount Rate 1055.77 1409.51
Price 2077.77 1409.51
CAPEX 1312.01 1409.51
OPEX 1275.86 1409.51
Emission Price 1395.25 1409.51
Tax/Royalties 1832.36 1409.51
Production 2063.52 1409.51
50.00
0.00 40.00 60.00
15 16 17 18 19 20
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
109.5 109.5 109.5 109.5 109.5 109.5
109.5 109.5 109.5 109.5 109.5 109.5
15 16 17 18 19 20
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
15 16 17 18 19 20
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
-30% 400
1955.85
741.25 200
1507.01
1543.16 0
-40% -30% -20% -10% 0% 10% 20%
1423.77
986.66 Discount Rate Price CAPEX O
755.51 Emission Price Tax/Royalties Production
2000.00
1500.00
1000.00
500.00
0.00
-40% -30% -20% -10% 0% 10% 20%
CAPEX OPEX
Production
axman)
CAPEX OPEX
Production
10% 20% 30% 40%
CAPEX OPEX
Production
North Sea Gas
Year Unit 0 1 2 3 4
Revenue
Gas Production PJ Pa - 80 80 80 80
Gas Price US$/GJ 8 8 8 8 8
Total Revenue MM US$ - 672 672 672 672
Expense
Capital Expenditure (CAPEX) MM US$ 580 - - - -
Well Cost MM US$ 20 - - - -
Mobilization of the rig MM US$ 0- - - -
Prospectivity 5- - - -
Platform MM US$ 400 - - - -
Gas Treatment Plan MM US$ 80 - - - -
Operation Expenditure (OPEX)
OPEX Cost MM US$ - 400 400 400 400
Total Expense (CAPEX and OPEX) MM US$ 580 400 400 400 400
Emission Cost
Emission of Gas ton CO2eq/GJ 0.005 0.005 0.005 0.005 0.005
Emission price US$/t CO2eq 80 80 80 80 80
Total Emission Cost MM US$ 32 32 32 32
Discount Rate and Tax
Discount Rate % 15% 15% 15% 15% 15%
Tax and Royalties % 65% 65% 65% 65% 65%
Economic Analysis
EBITDA US$1MM -580 240.00 240.00 240.00 240.00
Tax and Royalties US$1MM -377 156.00 156.00 156.00 156.00
Net Profit US$1MM -203 84.00 84.00 84.00 84.00
NPV of Profit US$1MM -203 73.04 63.52 55.23 48.03
NPV 20 Years US$1MM 322.78
NPV Taxman
Tax Received US$1MM -377 156.00 156.00 156.00 156.00
NPV of Tax Income US$1MM -377 135.65 117.96 102.57 89.19
NPV 20 Years US$1MM 599.46
5 6 7 8 9 10 11 12 13 14
80 80 80 80 80 80 80 80 80 80
8 8 8 8 8 8 8 8 8 8
672 672 672 672 672 672 672 672 672 672
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
400 400 400 400 400 400 400 400 400 400
400 400 400 400 400 400 400 400 400 400
0.005 0.005 0.005 0.005 0.005 0.005 0.005 0.005 0.005 0.005
80 80 80 80 80 80 80 80 80 80
32 32 32 32 32 32 32 32 32 32
15% 15% 15% 15% 15% 15% 15% 15% 15% 15%
65% 65% 65% 65% 65% 65% 65% 65% 65% 65%
240.00 240.00 240.00 240.00 240.00 240.00 240.00 240.00 240.00 240.00
156.00 156.00 156.00 156.00 156.00 156.00 156.00 156.00 156.00 156.00
84.00 84.00 84.00 84.00 84.00 84.00 84.00 84.00 84.00 84.00
41.76 36.32 31.58 27.46 23.88 20.76 18.06 15.70 13.65 11.87
156.00 156.00 156.00 156.00 156.00 156.00 156.00 156.00 156.00 156.00
77.56 67.44 58.65 51.00 44.34 38.56 33.53 29.16 25.35 22.05
15 16 17 18 19 20
80 80 80 80 80 80
8 8 8 8 8 8
672 672 672 672 672 672
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
Increase 30%
CAPEX
Parameter Company Variance
Baseline 322.78
Discount Rate 215.55 -33.22
Price 764.44 136.83
Price
CAPEX 261.88 -18.87
OPEX 59.89 -81.45
Emission Price 301.75 -6.52
Tax/Royalties 142.95 -55.71 Discount Rate
Production 743.41 130.31
Exchange Rate 298.25 -7.60
-150.00 -
Increase 30%
Parameter Taxman Variance
Baseline 599.46
Discount Rate 400.32 -33.22
Price 1419.68 136.83
CAPEX 486.36 -18.87 Exchange Rate
OPEX 111.23 -81.44
Production
Exchange Rate
Decrease 30%
CAPEX
Parameter Company Variance
Baseline 322.78
Discount Rate 488.4 51.31
Price -118.87 -136.83 Price
CAPEX 383.68 18.87
OPEX 585.68 81.45
Emission Price 343.82 6.52
Tax/Royalties 502.62 55.72 Discount Rate
Production -97.84 -130.31
Exchange Rate 224.64 -30.40
-150.00
Decrease 30%
Parameter Taxman Variance
Baseline 599.46
Discount Rate 907.02 51.31
Price -220.77 -136.83
CAPEX 712.56 18.87
OPEX 1087.68 81.44
Emission Price 638.51 6.51
Tax/Royalties 419.62 -30.00
Production -181.71 -130.31
Exchange Rate 417.18 -30.41
Increase 30%
Year Unit 0 1 2 3 4
Revenue
Gas Production PJ Pa - 80 80 80 80
Gas Price US$/GJ 8 8 8 8 8
Total Revenue MM US$ - 660.8 660.8 660.8 660.8
Expense
Capital Expenditure (CAPEX) MM US$ 580 - - - -
Well Cost MM US$ 20 - - - -
Mobilization of the rig MM US$ 0- - - -
Prospectivity 5- - - -
Platform MM US$ 400 - - - -
Gas Treatment Plan MM US$ 80 - - - -
Operation Expenditure (OPEX)
OPEX Cost MM US$ - 400 400 400 400
Total Expense (CAPEX and OPEX) MM US$ 580 400 400 400 400
Emission Cost
Emission of Gas ton CO2eq/GJ 0.005 0.005 0.005 0.005 0.005
Emission price US$/t CO2eq 80 80 80 80 80
Total Emission Cost MM US$ 32 32 32 32
Discount Rate and Tax
Discount Rate % 15% 15% 15% 15% 15%
Tax and Royalties % 65% 65% 65% 65% 65%
Economic Analysis
EBITDA US$1MM -580 228.80 228.80 228.80 228.80
Tax and Royalties US$1MM -377 148.72 148.72 148.72 148.72
Net Profit US$1MM -203 80.08 80.08 80.08 80.08
NPV of Profit US$1MM -203 69.63 60.55 52.65 45.79
NPV 20 Years US$1MM 298.25
NPV Taxman
Tax Received US$1MM -377 148.72 148.72 148.72 148.72
NPV of Tax Income US$1MM -377 129.32 112.45 97.79 85.03
NPV 20 Years US$1MM 553.89
Decrease 30%
Year Unit 0 1 2 3 4
Revenue
Gas Production PJ Pa - 80 80 80 80
Gas Price US$/GJ 8 8 8 8 8
Total Revenue MM US$ - 627.2 627.2 627.2 627.2
Expense
Capital Expenditure (CAPEX) MM US$ 580 - - - -
Well Cost MM US$ 20 - - - -
Mobilization of the rig MM US$ 0- - - -
Prospectivity 5- - - -
Platform MM US$ 400 - - - -
Gas Treatment Plan MM US$ 80 - - - -
Operation Expenditure (OPEX)
OPEX Cost MM US$ - 400 400 400 400
Total Expense (CAPEX and OPEX) MM US$ 580 400 400 400 400
Emission Cost
Emission of Gas ton CO2eq/GJ 0.005 0.005 0.005 0.005 0.005
Emission price US$/t CO2eq 80 80 80 80 80
Total Emission Cost MM US$ 32 32 32 32
Discount Rate and Tax
Discount Rate % 15% 15% 15% 15% 15%
Tax and Royalties % 65% 65% 65% 65% 65%
Economic Analysis
EBITDA US$1MM -580 195.20 195.20 195.20 195.20
Tax and Royalties US$1MM -377 126.88 126.88 126.88 126.88
Net Profit US$1MM -203 68.32 68.32 68.32 68.32
NPV of Profit US$1MM -203 59.41 51.66 44.92 39.06
NPV 20 Years US$1MM 224.64
NPV Taxman
Tax Received US$1MM -377 126.88 126.88 126.88 126.88
NPV of Tax Income US$1MM -377 110.33 95.94 83.43 72.54
NPV 20 Years US$1MM 417.18
Tornado Chart (Company)
ge Rate
duction
oyalties
on Price
OPEX
CAPEX
Price
nt Rate
ge Rate
duction
ge Rate
duction
oyalties
on Price
OPEX
CAPEX
Price
nt Rate
5 6 7 8 9 10 11 12 13 14
80 80 80 80 80 80 80 80 80 80
8 8 8 8 8 8 8 8 8 8
660.8 660.8 660.8 660.8 660.8 660.8 660.8 660.8 660.8 660.8
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
400 400 400 400 400 400 400 400 400 400
400 400 400 400 400 400 400 400 400 400
0.005 0.005 0.005 0.005 0.005 0.005 0.005 0.005 0.005 0.005
80 80 80 80 80 80 80 80 80 80
32 32 32 32 32 32 32 32 32 32
15% 15% 15% 15% 15% 15% 15% 15% 15% 15%
65% 65% 65% 65% 65% 65% 65% 65% 65% 65%
228.80 228.80 228.80 228.80 228.80 228.80 228.80 228.80 228.80 228.80
148.72 148.72 148.72 148.72 148.72 148.72 148.72 148.72 148.72 148.72
80.08 80.08 80.08 80.08 80.08 80.08 80.08 80.08 80.08 80.08
39.81 34.62 30.11 26.18 22.76 19.79 17.21 14.97 13.02 11.32
148.72 148.72 148.72 148.72 148.72 148.72 148.72 148.72 148.72 148.72
73.94 64.30 55.91 48.62 42.28 36.76 31.97 27.80 24.17 21.02
5 6 7 8 9 10 11 12 13 14
80 80 80 80 80 80 80 80 80 80
8 8 8 8 8 8 8 8 8 8
627.2 627.2 627.2 627.2 627.2 627.2 627.2 627.2 627.2 627.2
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
400 400 400 400 400 400 400 400 400 400
400 400 400 400 400 400 400 400 400 400
0.005 0.005 0.005 0.005 0.005 0.005 0.005 0.005 0.005 0.005
80 80 80 80 80 80 80 80 80 80
32 32 32 32 32 32 32 32 32 32
15% 15% 15% 15% 15% 15% 15% 15% 15% 15%
65% 65% 65% 65% 65% 65% 65% 65% 65% 65%
195.20 195.20 195.20 195.20 195.20 195.20 195.20 195.20 195.20 195.20
126.88 126.88 126.88 126.88 126.88 126.88 126.88 126.88 126.88 126.88
68.32 68.32 68.32 68.32 68.32 68.32 68.32 68.32 68.32 68.32
33.97 29.54 25.68 22.33 19.42 16.89 14.68 12.77 11.10 9.66
126.88 126.88 126.88 126.88 126.88 126.88 126.88 126.88 126.88 126.88
63.08 54.85 47.70 41.48 36.07 31.36 27.27 23.71 20.62 17.93
Company
Parameter 30% 0% -30%
Discount Rate 215.55 322.78 488.4
Price 764.44 322.78 -118.87
CAPEX 261.88 322.78 383.68
OPEX 59.89 322.78 585.68
Emission Price 301.75 322.78 343.82
Tax/Royalties 142.95 322.78 502.62
Production 743.41 322.78 -97.84
Taxman
Parameter 30% 0% -30%
Discount Rate 400.32 599.46 907.02
Increase 30% Price 1419.68 599.46 -220.77
Decrease 30%
CAPEX 486.36 599.46 712.56
OPEX 111.23 599.46 1087.68
Emission Price 560.4 599.46 638.51
Tax/Royalties 779.29 599.46 419.62
Production 1380.62 599.46 -181.71
100.00 150.00
Increase 30%
Decrease 30%
100.00 150.00
15 16 17 18 19 20
80 80 80 80 80 80
8 8 8 8 8 8
660.8 660.8 660.8 660.8 660.8 660.8
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
15 16 17 18 19 20
80 80 80 80 80 80
8 8 8 8 8 8
627.2 627.2 627.2 627.2 627.2 627.2
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
400 400 400 400 400 400
400 400 400 400 400 400
800
600
400
200
0
-40% -30% -20% -10% 0% 10% 20% 30% 40%
-200
0% 40%