Look, which part of "we tax the arse out of them when there's something to tax" do you not understand?
Read carefully:
We don't impose a punitive tax regime on exploration - i.e when there's nothing to tax only losses. We apply the maximum amount of tax we can, not now, but at some future time IF, then WHEN the exploration has found resources worth exploiting. We incentivise exploration or it won't happen. We apply a Norway-style 70%, feckit 90% tax if we can get away with it, when the oil is flowing, which will never happen if the exploration doesn't happen. And which will never happen if the exploration finds nothing. Clear?
So, back to my question - why are all the oil and gas companies ignoring our supposed handout bonanza, but still exploring off Norway, 70% tax and all?