Voyager’s win
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Tuesday, 1 June, 2004 - 22:00
Voyager’s win
PERTH-BASED oil and gas junior Voyager Energy has welcomed the taxation incentive for offshore oil exploration included in the recent Federal Budget.
In a letter to shareholders, Voyager Energy John Begg said currently only four ASX-listed Australian companies were eligible to take advantage of the new provision – BHP Billiton, Woodside, Santos and Tap Oil.
However, Mr Begg pointed out that the list would grow to eight companies by the end of the year.
“In general, frontier areas are usually remote, high cost to operate because of deepwater and suffer from a perception that the chance of making a discovery is low,” Mr Begg said.