House of Reps Public Hearing 6 – Lekoil

6 frontier basins should be specifically designated
OPLs located in water depths greater than 2000 metres in the Niger Dela be identified and designated as Frontier Areas
Grant exception for indigenous frontier operators from 5% flat royalty rate and windfall clawback of 0.05% per dollar above $60 oil price
10 year royalty holidays for frontier basins should be placed in the law rather than granted at the discretion of the Commission
assessable tax for frontier operators to be a flat rate of 30%
allow indigenous operators in frontier basis to recover all of the signature bonuses and reduction of the production bonuses payable for frontier leases