You have been provided with the following projections in relation to a proposed oilfield development with a 10 year life span.

Year	Prod (barrels)	CAPEX	OPEX
	1,000	000	000
1	0	118	0
2	0	64	17
3	0	31	20
4	17	12	22
5	90		21
6	143		20
7	56		14
8	47		16
9	18		8
10	7		5

Additional Info:

Price per barrel $37 Capital Allowance is 20% per year after first oil. Inflation 1.8% Tax 17%

Use your own stationary to calculate the expenditure and income for the proposed project scenario and present this information as a comprehensive table of projections. From the information calculated, provide answers to the following questions.

a) What is the cumulative cash flow in MOD terms over the life span of the project?

b) What is the total amount of tax payable over the life span of the project?

c) As accurately as possible, when does positive payout occur in Real Cash Flow terms?