Certainly.
The fiscal system in Newfoundland and Labrador's offshore is fairly consistent among all the projects. It's a progressive royalty system, which means it grows over time as profitability increases. At any particular time, between 20% and 45% of every profit dollar flows through to the province.
This generally means that in 2025, there could have been in the order of about $2 billion in gross royalties from other forms of economic rent. For a province of half a million people, that's a pretty significant component. As I mentioned, it's almost 25% of the total governmental revenue.
