Cash Flow Analysis - definitions, cash flow and profit, cash flow and taxation, cash flow and production sharing contracts, incorporating inflation, fiscal drag, real and nominal cash flows. Economic Indicators - net present value, internal rate of return, pay back, capital productivity index. Incremental investment analysis (accelerating production, lease/buy economics). Risk Analysis - expected value, decision trees, value of information, sensitivity analysis, probability analysis, Monte Carlo simulation, risk and selection of discount rate. Fiscal Analysis - structure of petroleum fiscal regimes, severity and efficiency, incremental fiscal effects. Australian Crude Oil Levy and Resource Rent Tax Fiscal Regimes - structure, detailed cash flow modelling, severity, efficiency, incremental effects, effect on exploration and development in Australia. Indonesian Production Sharing Contract Regime - structure, detailed cash flow modelling, severity, efficiency, incremental effects, effect on exploration and development in Indonesia.