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{"sheet":"Examples","index":0,"n_rows":42,"n_cols":27,"rows_kept":42,"cut":false,"hidden":true,"merged":[]}
["IPART COLOUR CODES  FOR MODELS AND INFORMATION REQUESTS"]
[null,"NB  ALWAYS DESCRIBE THE COLOUR CODE USED IN YOUR MODEL "]
[null,"Note: If you use the formats for the inputs provided in this template, input cells will always be unprotected even when you protect the worksheet"]
[null,null,null,null,null,null,null,"use this column cell to \"paint\" input cells for numbers (NOT for percentages)"]
[null,null,null,null,null,null,null,null,"use this column cell to \"paint\" input cells for percentages (NOT numbers)"]
[null,"Models"]
[null,"Option 1 (best for models that will be used repeatedly)",null,null,null,null,{"$f":"G22","v":"numbers"},{"$f":"H22","v":"%"},"Option 2 (best for smaller models for once-off and/or own use)"]
[null,"Inputs",null,null,null,null,4442,0.08,"Inputs",67,0.03]
[null,"Links from other files (green)",null,null,null,null,null,null,{"$f":"B9","v":"Links from other files (green)"}]
[null,"Error check (check =0)",null,null,null,null,null,null,"Error check (check =0)"]
[null,"Error warnings, messages and unusual calculation assumptions",null,null,null,null,null,null,{"$f":"B11","v":"Error warnings, messages and unusual calculation assumptions"}]
[null,"Indicate change in formula across row with a double red line",null,null,null,null,null,null,"..change in formula across row with a double red line"]
[null,"Key outputs",null,null,null,null,null,null,{"$f":"B13","v":"Key outputs"}]
[null,"Note: can combine options, eg:"]
[null,"Example 1",null,"Inputs for model runs",null,"AND"]
[null,null,"Hard-coded protected inputs that can't be changed (eg credit ratio and ratings tables)"]
[]
[null,"Example 2",null,"Inputs can be links to other files in some runs"]
[null,null,null,"Attention can be drawn to different/unusual inputs "]
[null,null,null,null,null,null,null,"use this column cell to \"paint\" input cells for numbers (NOT for percentages)"]
[null,"Information Requests",null,null,null,null,null,null,"use this column cell to \"paint\" input cells for percentages (NOT numbers)"]
[null,null,null,null,null,null,"numbers","%"]
[null,"compulsory inputs (numbers and text)",null,null,null,null,234,0.24]
[null,"Forecast Inputs",null,null,null,null,667,0.05]
[null,"Error warnings and messages"]
[null,"Error check (check =0)"]
[]
[null,"QA notes - annotation or documenation by QA staff"]
[]
[]
["User Instructions - IPART CHARTS"]
[]
[null,"Dark blue","Lime","Red","Blue","Light gold","Green","Maroon","Light blue",null,null,"Blue solid","Lime solid","Red solid ","Blue  dashes","Lime  dashes ","Red  dashes",null,"X value","1st Y value","2nd Y value",null,null,"Black","Red 100%","Red 70%","Grey 40%"]
["1975-76",36.19,36.880000000000003,21.56,5.36,3.01,10,3.01,10,null,"1975-76",33.19,36.880000000000003,21.56,5.36,3.01,10,null,1.8,10,17,null,"1975-76",33.19,36.880000000000003,21.56,5.36]
["1983-84",39.39,32.020000000000003,21.6,7.01,3.36,12,3.36,12,null,"1983-84",39.39,32.020000000000003,21.6,7.01,3.36,12,null,2.2999999999999998,12,9,null,"1983-84",39.39,32.020000000000003,21.6,7.01]
["1988-89",42.78,29.91,18.350000000000001,6.33,2.63,14,2.63,14,null,"1988-89",42.78,29.91,18.350000000000001,6.33,2.63,14,null,3.7,16,14,null,"1988-89",42.78,29.91,18.350000000000001,6.33]
["1993-94",42.13,26.53,21.6,7.01,2.72,16,2.72,16,null,"1993-94",42.13,26.53,21.6,7.01,2.72,16,null,4.0999999999999996,8,23,null,"1993-94",42.13,26.53,21.6,7.01]
["1996-97",41.69,24.76,23.98,7,2.57,18,2.57,18,null,"1996-97",41.69,24.76,23.98,7,2.57,18,null,5.5,14,27,null,"1996-97",41.69,24.76,23.98,7]
["1997-98",39.39,32.020000000000003,21.6,7.01,3.36,12,3.36,12,null,"1997-98",39.39,32.020000000000003,21.6,7.01,3.36,12,null,null,null,null,null,"1997-98",39.39,32.020000000000003,21.6,7.01]
["1998-99",42.13,26.53,21.6,7.01,2.72,16,2.72,16,null,"1998-99",42.13,26.53,21.6,7.01,2.72,16,null,null,null,null,null,"1998-99",42.13,26.53,21.6,7.01]
["1999-00",45,22,26,8,2,20,2,20,null,"1999-00",45,22,26,8,2,20,null,null,null,null,null,"1999-00",45,22,26,8]
["–  en rule for when needed"]

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[]
[null,"LANDHOLDER COMPENSATION MODEL"]
[]
[null,"1. PURPOSE OF THE MODEL"]
[null,"The purpose of the model is to estimate benchmark compensation and incentive payments for landholders hosting coal seam gas exploration and production in NSW.   "]
[]
[null,"2. STRUCTURE OF THE MODEL"]
[null,"The model contains four worksheets. "]
[null,"INPUT worksheet: This worksheet is where you enter information about your circumstances.    Section 3 below provides more information on this worksheet.  At any time, click the “RESET” button on the top right hand corner to clear all inputs."]
[null,"RESULTS worksheet: This worksheet shows compensation and incentive payments based on the information provided in the INPUT worksheet.  It consists of three parts:"]
[null,null,"▼  PART A shows compensation payments.  There are two options.  You can show a single upfront payment by selecting \"LUMP-SUM UPFRONT\" or a series of annual payments by selecting \"ANNUAL PAYMENT\"."]
[null,null,"▼  PART B shows incentive payments such as production bonuses that are provided in addition to compensation.  "]
[null,null,"▼  PART C graphically shows a schedule of compensation and incentive payments over your access agreement period."]
[null,"CALC worksheet: This worksheet provides detailed calculations of compensation and incentive payments. More information about this worksheet including how the model estimates compensation and incentive payments is provided in Section 4 of this guide."]
[null,"CONVERSION worksheet: The model calculates payments based on land area in hectares and land value per hectare.  If you have different units for your land area and land value, you can use this worksheet to convert into hectares. "]
[]
[null,"3. HOW TO USE THE INPUT WORKSHEET"]
[null,"The INPUT worksheet consists of two parts.  PART A requires inputs for compensation and PART B requires inputs for incentive payments.  "]
[null,"PART A: INPUTS FOR COMPENSATION PAYMENTS"]
[null,"Category",null,"Inputs","Description"]
[null,"(1) Land access agreement details",null,"How long is your access agreement?","Enter an estimate of the number of years for your land access agreement. "]
[null,"(2) Landholding details",null,"What is the total area of your land?","Enter the total area of your property in hectares. "]
[null,null,null,"What is the estimated value of your land per hectare?","Enter an estimate of the value of your land in dollars per hectare.  This is the value of your land without any gas development on it. "]
[null,null,null,"What is the rental value of land?","Enter an estimate of the rental value of your land as a percentage of land value.   For reference, NSW Department of Primary Industries indicates that rental value ranges from around 5% to 9% of the value of land for dryland agriculture, and around 10% of the value of land for irrigated lands.  See comment box for reference."]
[null,"(3) Estimated impact on land and landholder"]
[null,"     (a)  Directly impacted land",null,"In the first year"]
[null,null,": Directly impacted land is land occupied by (or set aside for) CSG infrastructure by gas company. ","   What is the total area of land used by gas company?","This is the area of land occupied by the gas company during construction of CSG infrastructure such as wells, access roads, pipelines etc.  "]
[null,null,null,"From the second year"]
[null,null,null,"   What is the total area of land used by gas company?","This is the area of land occupied by CSG infrastructure once construction is completed (assumed to be from year two onwards).  Generally, this area will be smaller than the area of land used during construction."]
[null,"     (b)  Residual land",null,"In the first year"]
[null,null,":Residual land is the total area of the landholder's property excluding the directly impacted land.  ","   What is the estimated reduction in the value of residual land","Severance refers to a reduction in the market value of residual land due to "]
[null,null,null,"   due to severance?","physical interference of CSG activities. For example, \n(i)  an access road may split a farmer’s paddock into two separate paddocks, or\n(ii) the location of CSG infrastructure may leave a parcel of land that is too small for its original (or potentially higher value) use.\n\nIt is often possible to locate CSG infrastructure so that there are minimal or no impacts from severance.  It is assumed that any percentage reduction in land value applies to the entire residual land area.                                                                                                                                                                                                                                                                                                                                                                                            An independent valuer would be able to provide an estimate of an overall reduction in the value of the residual land due to severance.  \n"]
[null,null,null,"   What is the estimated reduction in the value of residual land","Injurious affection refers to all other impacts that affect the market value "]
[null,null,null,"   due to injurious affection?","of residual land (excluding severance).  The market value of residual land may be affected by a range of impacts and inconveniences, including (but not limited to):\n(i)   noise, dust, smell and light from construction and traffic, \n(ii)  visual impacts of operation\n(iii) loss of privacy \n(iv) other lifestyle impacts, and\n(v)  reduced control over daily farm management.\n\nIt is assumed that any percentage reduction in land value due to injurious affection applies to the entire residual land area.  An independent valuer would be able to provide an estimate of an overall reduction in the market value of residual land due to injurious affection."]
[null,null,null,"From the second year"]
[null,null,null,"   What is the estimated reduction in the value of residual land","Please refer to the description above.  "]
[null,null,null,"   due to severance?"]
[null,null,null,"   What is an estimated reduction in the value of indirectly","Please refer to the description above."]
[null,null,null,"   impacted land due to injurious affections?"]
[null,"(4) Landholder time and professional advice",null,"How many hours did you spend negotiating your access agreement?","Estimate the total number of hours you spent (or will spend) negotiating your access agreement."]
[null,null,null,"How many hours do you expect to spend each year on matters related to you access agreement?","Provide the number of hours you reasonably expect to spend dealing with the gas company per year on issues related to CSG activities."]
[null,null,null,"Enter an estimate of the value of your time","Provide an estimate of the value of your time per hour.  This is to estimate the dollar value of time you spent negotiating your access agreement.  As a guide, Transport for NSW estimates that the value of travel time is $49.61 per hour for business travel (in $2014/15).  See comment box for reference."]
[null,null,null,"How much did you spend on fees for professional advice (eg, legal, valuation and other fees) including GST?","Provide an estimate of the total cost of professional advice on legal, accounting, valuation and taxation, and other fees."]
[null,"(5) Other assumptions",null,"What rate of return would you expect to earn on financial investments per year? (You need this input only if you wish to calculate a lump sum up-front payment)","Provide a rate of return you reasonably expect to earn if you were to invest annual compensation payments. For example, it can be an interest rate on your saving account or term deposit.  We use the interest rate to discount future annual compensation payments (see Section 4 below). This information is required only if you want to calculate lump-sum upfront compensation payment. If you want to estimate annual compensation only, you do not need to provide this information."]
[null,null,null,"Inflation rate","Inflation measures the extent to which prices of goods and services go up.  If an access agreement states that annual compensation and/or incentive payments  will be adjusted annually by any increase in the CPI, this means compensation will increase at the rate of inflation.  A reasonable inflation rate that could be used in this model is the midpoint of the Reserve Bank of Australia's inflation target rate, which is 2.5 percent."]
[null,"PART B: INPUTS FOR INCENTIVE PAYMENTS"]
[null,"Part B relates to incentive payments.  You will need to provide the year in which you expect to receive the first payment.  We have assumed that this is when a project enters the production stage (ie, when a gas company expects to start producing a commercial quantity of gas).  The model assumes that incentive payments are received at the end of each production year.  For example, as shown in the diagram below if a gas project proceeds to the production stage in the fourth year of your access agreement period, you will receive the first incentive payment at the end of year 4 (ie, at the beginning of year 5).   "]
[]
[null,"Beginning of Year",null,"*N is the length of an access agreement"]
[null,"Please select an option that is relevant to you from the dropdown list and provide required inputs. "]
[null,null,"▼  Select \"Statutory annual royalty payment\" if your incentive payments are based on the gas company's annual royalty payment to the NSW Government.  You will be asked to provide inputs listed in (1) of the table below."]
[null,null,"▼  Select \"Producing well meeting the target production\" if your incentive payments are based on producing wells.  You will be asked to provide inputs listed in (2) of the table below."]
[null,null,"▼  Select \"Estimated annual incentive payment\" if the gas company has provided you with an estimate of annual incentive payments or if you do not have sufficient information to use the previous two options.  You will be asked to provide inputs listed in (3) of the table below."]
[]
[null,"Incentive payment option selected",null,"Inputs","Description"]
[null,"(1) Statutory annual royalty payment",null,"Gas company's statutory annual royalty payment","Gas companies are required to pay royalties to the NSW Government for the gas that they recover in NSW (as a percentage of the value of gas at the well-head).  The gas company may be able to provide an estimate of its royalty payment."]
[null,null,null,"% of royalty gas company contributes to incentive fund","Enter the percentage of the royalty payment the gas company agrees to contribute to its incentive fund each year."]
[null,null,null,"Total licence area for production","Provide the total area of land utilised by the gas company under the petroleum production licence."]
[null,"(2) Producing well meeting the target production",null,"Total number of producing wells in licence area that exceed the production target","Provide an estimate of the total number of wells in a licence area that exceed their annual production target.  You may be able to obtain this information from your gas company.  "]
[null,null,null,"Amount of money per well a gas company contributes to the incentive fund in the first year of production when gas production from a well exceeds its target level","Provide the dollar amount that gas company agrees to contribute to the incentive fund in the first year of the production stage for each well when its production exceeds a target level of production.  "]
[null,null,null,"Total number of eligible landholders in licence area","Provide the total number of landholders who are eligible to receive incentive payments in the licence area."]
[null,"(3) Estimated annual incentive payment",null,"An estimate of annual incentive payments in the first year of production","Provide an estimate of the annual incentive payment you may receive in the first year of the production stage."]
[]
[null,"4.  HOW COMPENSATION AND INCENTIVE PAYMENTS ARE CALCULATED? (\"CALC\" WORKSHEET)"]
[null,"The CALC worksheet consists of three parts.  PART A calculates compensation in a series of annual payments.  PART B calculates compensation as a lump-sum upfront payment using annual payments calculated in PART A.  PART C calculates incentive payments."]
[null,"PART A: CALCULATING ANNUAL COMPENSATION PAYMENT"]
[null,"Compensation payments in our model includes the rent for land occupied and compensation for severance and injurious affection, and the costs of landholder’s time and professional advice.  The model allows different land areas and reductions in land value due to severance and injurious affection in the first year and from the second year onwards, taking into account that impacts on landholders are often greater in the first year of an access agreement."]
[null,"Compensation in the first year"]
[null,null,"▼  Rent for land occupied =  Value of land ($/ha) × Area of land used in the first year (ha) ×  Rental rate (%)"]
[null,null,"▼  Compensation for severance = Value of land ($/ha) × Area of residual land* in the first year (ha) × Estimated reduction in land value due to severance in the first year (%) × Rental rate (%)"]
[null,null,"▼  Compensation for injurious affections = Value of land ($/ha) × Area of residual land* in the first year (ha) × Estimated reduction in land value due to injurious affections in the first year (%) × Rental rate (%)"]
[null,null,"▼  Landholder time and expert advice = Total number of hours spent negotiating access agreement × Landholder’s value of time ($/hour) + Total cost of professional advice ($)"]
[null,"Compensation from the second year onwards"]
[null,null,"▼  Rent for land occupied =  Value of land ($/ha) × Area of land used from the second year (ha) ×  Rental rate (%)"]
[null,null,"▼  Compensation for severance = Value of land ($/ha) × Area of residual land* from the second year (ha) × Estimated reduction in land value due to severance from the second year (%) × Rental rate (%)"]
[null,null,"▼  Compensation for injurious affections = Value of land ($/ha) × Area of residual land* from the second year (ha) × Estimated reduction in land value due to injurious affections from the second year (%) × Rental rate (%)"]
[null,null,"▼  Landholder time and expert advice = Total number of hours spent dealing with gas company each year × Landholder’s value of time ($/hour)"]
[null,null,"*The area of residual land is given by a landholder’s total landholding less the area of land occupied by CSG infrastructure."]
[null,"PART B: CALCULATING LUMP-SUM UPFRONT COMPENSATION PAYMENT"]
[null,"PART B calculates a lump-sum upfront compensation payment as the present value of all annual payments a landholder is expected to receive during the access agreement period.  The calculation assumes that annual payments are made at the beginning of each year and are reinvested at a rate of return.  The formula for this calculation is shown below."]
[]
[]
[null,null,null,"where PMTn is annual compensation in year n, and N is the length of an access agreement"]
[]
[null,"PART C: CALCULATING THE INCENTIVE PAYMENT"]
[null,"When \"Statutory annual royalty payment\" or \"Producing well meeting the target production\" is selected as a basis for incentive payments, the model assumes that a gas company first creates an “incentive fund” to which it contributes certain amounts each year.  The total incentive fund is then shared by all affected landholders within a licence area.  The details of incentive payment calculations are provided below."]
[null,"If \"Statutory annual royalty payment\" is selected:"]
[null,null,"▼  Total incentive fund = Annual royalty payment × % of royalty a gas company contributes to the incentive fund"]
[null,null,"▼  Incentive payment to a landholder = Total incentive fund × (Landholder’s land area utilised by gas company ÷ Total licence area for production)"]
[null,"If \"Producing well meeting the target production\" is selected:"]
[null,null,"▼  Total incentive fund = Total number of producing wells in licence area that exceed production targets × Amount of money per well a gas company contributes to the incentive fund when a well production exceeds its target level"]
[null,null,"▼  Incentive payment to a landholder = Total incentive fund ÷ Total number of eligible landholders in licence area"]
[]
[null,"Disclaimer"]
[null,"This model was developed by the Independent Pricing and Regulatory Tribunal (IPART) as a guide for landholders in NSW.  It is for general information and we recommend that landholders seek professional advice when negotiating a land access and compensation agreement."]

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[]
[null,"INPUTS"]
[null,"PART A.  Inputs for Compensation Payment"]
[]
[null,"1. Land access agreement details"]
[null,"   How long is your access agreement for?",20,"years"]
[]
[null,"2. Landholding details"]
[null,"   What is the total area of your land in hectares? If you have land area in a different unit, use the \"CONVERSION\" worksheet to convert into hectares.",200,"hectares"]
[null,"   What is the estimated value of your land per hectare? If you have land value in a different unit, use the \"CONVERSION\" worksheet to convert into $/hectare.",15000,"per hectare"]
[null,"   What is the rental value of land as a percentage of land value?",0.08,"percent"]
[null,"3. Estimated impact on land and landholder"]
[null,"(a) Directly impacted land"]
[null,"   In the first year of land access agreement"]
[null,"      What is the total area of land used by gas company?",10,"hectare"]
[null,"   From the second year of land access agreement"]
[null,"      What is the total area of land used by gas company?",5.25,"hectare"]
[null,"(b) Residual land (your total land area excluding directly impacted land)"]
[null,"   In the first year of land access agreement"]
[null,"      What is an estimated reduction in the value of residual land due to severance?",0,"percent"]
[null,"      What is an estimated reduction in the value of residual land due to injurious affection?",0.2,"percent"]
[null,"   From the second year of land access agreement"]
[null,"      What is an estimated reduction in the value of residual land due to severance?",0,"percent"]
[null,"      What is an estimated reduction in the value of residual land due to injurious affection?",0.1,"percent"]
[null,"4.  Cost of landholder time and expert advice"]
[null,"   How many hours did you spend negotiating your access agreement?",150,"hours in total"]
[null,"   How many hours do you expect to spend each year on matters related to you access agreement?",50,"hours per annum"]
[null,"   Enter an estimate of the value of your time",50,"per hour"]
[null,"   How much did you spend on fees for professional advice (eg, legal, valuation, taxation and other fees) including GST?",40000,"per agreement"]
[null,"5. Other assumptions "]
[null,"   What rate of return would you expect to earn on financial investments per year? (You need this input only if you wish to calculate a lump-sum upfront payment)",3.5000000000000003E-2,"percent per annum"]
[null,"   Inflation rate",2.5000000000000001E-2,"percent per annum"]
[]
[]
[null,"PART B.  Inputs for Incentive Payment"]
[null,"What is your incentive payment based on?",1]
[null,"   In which year is the gas project expected to enter the production stage?",4,"years"]
[null,{"$f":"IF($C$36=1,'DO NOT DELETE'!$B$5:$B$7,IF($C$36=2,'DO NOT DELETE'!$C$5:$C$7,'DO NOT DELETE'!$D$5:$D$7))","v":"   Gas company's statutory annual royalty payment"},1500000,"$ per annum"]
[null,"   % of royalty gas company contributes to incentive fund",5,"percent"]
[null,"   Total licence area for production",22,"hectares"]

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[]
[null,"RESULTS"]
[null,"PART A. Compensation Payment",null,null,null,"PART B. Incentive Payment",null,null,null,"PART C.  Payment Schedule"]
[null,"Payment Structure: ",null,null,null,"A schedule of your incentive payments is provided below.  ",null,null,null,"The graph below shows compensation payment schedule over your access agreement period."]
[null,"About Payment Structure: Please select an option to get an estimate of your compensation.  Select \"Lump-sum Upfront Payment\" to get a single upfront payment. Select \"Annual Payments\" for a series of annual payments."]
[{"$f":"MAX(COUNT(B7:B106),COUNT(F7:F106))","v":20},"Beginning of Year","Annual Payment",null,null,"Beginning of Year","Annual Payment"]
[1,{"$f":"CALC!B7:B106","v":1},{"$f":"IF(CALC!G7:G106>0,CALC!G7:G106,\"\")","v":105100},null,null,{"$f":"IF(CALC!J7:L106>0,CALC!J7:L106,\"\")","v":1},""]
[2,2,32974.25,null,null,2,""]
[3,3,33798.606249999997,null,null,3,""]
[4,4,34643.571406249997,null,null,4,""]
[5,5,35509.660691406243,null,null,5,17897.727272727272]
[6,6,36397.40220869139,null,null,6,18345.170454545452]
[7,7,37307.337263908674,null,null,7,18803.799715909088]
[8,8,38240.020695506399,null,null,8,19273.894708806816]
[9,9,39196.021212894055,null,null,9,19755.742076526985]
[10,10,40175.921743216393,null,null,10,20249.635628440155]
[11,11,41180.319786796812,null,null,11,20755.876519151159]
[12,12,42209.827781466724,null,null,12,21274.773432129939]
[13,13,43265.073476003388,null,null,13,21806.642767933186]
[14,14,44346.700312903478,null,null,14,22351.80883713151]
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{"sheet":"CALC","index":4,"n_rows":106,"n_cols":12,"rows_kept":106,"cut":false,"hidden":false,"merged":[]}
[]
[null,"DETAILED CALCULATIONS"]
[null,null,null,null,null,null,null,"check = 0",{"$f":"(G8/(Interest_Rate-Inflation)*(1-((1+Inflation)/(1+Interest_Rate))^(Access_Period-1))+G7)-I5","v":3.0267983675003052E-9}]
[null,"PART A.  Annual Compensation Payment ($)",null,null,null,null,null,"PART B.  Lump-Sum Payment ($)",null,"PART C.  Incentive Payment ($)"]
[null,null,null,null,null,null,null,"Total (Nominal)",{"$f":"SUM(I7:I106)","v":660561.16319096275}]
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[96,"","","","","",0,"",0,"",0,{"$f":"IF(AND(Production_Year<=CALC!$A101,$A102<=Access_Period),IF(Incentive_Option=1,INPUT!$C$38*INPUT!$C$39/100*(Land_YR2/INPUT!$C$40),IF(Incentive_Option=2,INPUT!$C$38*INPUT!$C$39/INPUT!$C$40,INPUT!$C$38)),0)","v":0}]
[97,{"$f":"IF(A103<=Access_Period,A103,\"\")","v":""},"","","","",0,"",0,"",{"$f":"IF(AND(J103>=Production_Year+1,J103<=Access_Period),IF(J103>Production_Year+1,L103*(1+Inflation)^(J103-(Production_Year+1)),L103),0)","v":0},{"$f":"IF(AND(Production_Year<=CALC!$A102,$A103<=Access_Period),IF(Incentive_Option=1,INPUT!$C$38*INPUT!$C$39/100*(Land_YR2/INPUT!$C$40),IF(Incentive_Option=2,INPUT!$C$38*INPUT!$C$39/INPUT!$C$40,INPUT!$C$38)),0)","v":0}]
[98,"","","","","",0,"",0,"",0,{"$f":"IF(AND(Production_Year<=CALC!$A103,$A104<=Access_Period),IF(Incentive_Option=1,INPUT!$C$38*INPUT!$C$39/100*(Land_YR2/INPUT!$C$40),IF(Incentive_Option=2,INPUT!$C$38*INPUT!$C$39/INPUT!$C$40,INPUT!$C$38)),0)","v":0}]
[99,"","","","","",0,"",0,"",0,{"$f":"IF(AND(Production_Year<=CALC!$A104,$A105<=Access_Period),IF(Incentive_Option=1,INPUT!$C$38*INPUT!$C$39/100*(Land_YR2/INPUT!$C$40),IF(Incentive_Option=2,INPUT!$C$38*INPUT!$C$39/INPUT!$C$40,INPUT!$C$38)),0)","v":0}]
[100,"","","","","",0,"",0,"",0,{"$f":"IF(AND(Production_Year<=CALC!$A105,$A106<=Access_Period),IF(Incentive_Option=1,INPUT!$C$38*INPUT!$C$39/100*(Land_YR2/INPUT!$C$40),IF(Incentive_Option=2,INPUT!$C$38*INPUT!$C$39/INPUT!$C$40,INPUT!$C$38)),0)","v":0}]

{"sheet":"CONVERSION","index":5,"n_rows":9,"n_cols":7,"rows_kept":9,"cut":false,"hidden":false,"merged":[[2,1,2,5]]}
[]
[null,"CONVERSION CALCULATOR"]
[null,"This Compensation Model calculates compensation based on land area in hectares and land value ($) per hectare.  If you have different units for your land area and value, please use the following calculator to convert your figures to hectares."]
[null,"Select your land and valuation unit:",1]
[]
[]
[null,{"$f":" \"Enter land area in \" & CHOOSE(C4,'DO NOT DELETE'!F4,'DO NOT DELETE'!F5,'DO NOT DELETE'!F6,'DO NOT DELETE'!F7)","v":"Enter land area in Square metre"},null,{"$f":"CHOOSE(C4,'DO NOT DELETE'!F4,'DO NOT DELETE'!F5,'DO NOT DELETE'!F6,'DO NOT DELETE'!F7)","v":"Square metre"},null,{"$f":"IF(ISNUMBER(C7),CHOOSE(C4,'DO NOT DELETE'!G4,'DO NOT DELETE'!G5,'DO NOT DELETE'!G6,'DO NOT DELETE'!G7)*C7,\"\")","v":""},"Hectares"]
[]
[null,{"$f":" \"Enter land value in $ per \" & CHOOSE(C4,'DO NOT DELETE'!F4,'DO NOT DELETE'!F5,'DO NOT DELETE'!F6,'DO NOT DELETE'!F7)","v":"Enter land value in $ per Square metre"},null,{"$f":"\"per \" & CHOOSE(C4,'DO NOT DELETE'!F4,'DO NOT DELETE'!F5,'DO NOT DELETE'!F6,'DO NOT DELETE'!F7)","v":"per Square metre"},null,{"$f":"IF(ISNUMBER(C9),C9*(1/CHOOSE(C4,'DO NOT DELETE'!G4,'DO NOT DELETE'!G5,'DO NOT DELETE'!G6,'DO NOT DELETE'!G7)),\"\")","v":""},"per Hectare"]

{"sheet":"DO NOT DELETE","index":6,"n_rows":8,"n_cols":7,"rows_kept":8,"cut":false,"hidden":true,"merged":[[2,1,2,3]]}
[]
["Incentive Payment",null,null,null,null,"Conversion Chart"]
["Type","Payment based on",null,null,null,null,"Hectare"]
[null,"(1) Royalty payment","(2) Meeting target production","(3) Gas company provided an estimate of annual incentive payment",null,"Square metre",1E-4]
["Statutory annual royalty payment","   Gas company's statutory annual royalty payment","   Total number of producing wells in licence area that exceed the production target","   An estimate of annual incentive payments in the first year of production",null,"Square kilometre",100]
["Producing well meeting the target production","   % of royalty gas company contributes to incentive fund","   Amount of money per well a gas company contributes to the incentive fund in the first year of production when meeting a target level of gas production","  ",null,"Acre",0.40468564223999998]
["Estimated annual incentive payment","   Total licence area for production","   Total number of eligible landholders in licence area","  ",null,"Square Yard",8.3612735999999998E-5]
[null,null,null,"   "]