"The UK government has exempted abandoned North Sea gas fields which have undergone redevelopment and became productive again from the petroleum revenue tax.
The new ruling -- which will take effect in July next year -- was reached after a series of discussions with North Sea producers on issues affecting the 'stability' of the North Sea tax regime, he said."
And Encore's news yesterday:
"Under the farm out agreement, the feasibility study must be completed by the end of June 2007."