A gas field is proposed to be acquired in 2010 for a total cost of $12,000 million, including $2,400 million worth of tangible costs. Most of the field is already developed except for one well that will be drilled in 2011 at a total cost of $910 million, which consists of $673 million as IDC and $273 million as tangible costs. Calculate the after-tax net cash flow for the proposal at an oil price of $70/Stb and gas price of $4/MScf. Severance and ad valorem taxes equal 8% of gross income. The NRI against 100% WI is 87.5%. The production forecast and operating expenditures are listed in table 49. Assume a corporate tax rate of 34%.