Metgasco set to recommence NSW drilling

Metgasco Managing Director Peter Henderson.

Metgasco Managing Director Peter Henderson.

The New South Wales Government will not appeal the Supreme Court’s decision that overturned the suspension of Metgasco’s petroleum exploration licence at the Rosella site in northern NSW. 

The Government had until 22 May to lodge an appeal.

The move leaves the Government open to paying millions of dollars in compensation to Metgasco, with both parties now set to engage in negotiations.

Metgasco Managing Director Peter Henderson said the Supreme Court decision was strongly in the company’s favour, finding against the Government on all three major points.

“We are pleased that the NSW Government appears to have recognised this and has avoided the damage it would have done to investor confidence in NSW and the waste of taxpayer funds had it appealed the decision,” Mr Henderson said.

“We would now like to meet with Government to discuss the damage caused to Metgasco as a result of the suspension decision and the future of the gas industry in the Clarence electorate.”

Mr Henderson said Metgasco would prefer to settle the claim for damages out of court, with the company also keen and ready to drill the Rosella conventional gas exploration well. 

Enter your details to subscribe to the free fortnightly Gas Today e-newsletter

Thank you for signing up for the Gas Today Online Update.