Newspaper article The Northern Star (Lismore, Australia)

Government Extends CSG Buyback Scheme by Three Months

Newspaper article The Northern Star (Lismore, Australia)

Government Extends CSG Buyback Scheme by Three Months

Article excerpt

Byline: Chris Calcino APN Newsdesk

METGASCO chief Peter Henderson has gone quiet as discussions progress over the company's proposed sale of its coal seam gas exploration licences to the NSW Government.

Resources Minister Anthony Roberts has announced a three-month extension of the government's petroleum exploration licence buyback scheme, following criticism of its failure to return Dart Energy's PEL 445 to state ownership before the scheme expired yesterday.

"We understand a buyback is a significant decision for titleholders, which is why we have extended the scheme," Mr Roberts said.

When queried about the extension's impact on the Metgasco deal, a spokeswoman said the company "confirms it is in discussion with the NSW Government about the settlement".

Metgasco will demand a healthy sum not just for the sale of its exploration licence, but also for damage caused when the government illegally suspended the company's operations in May last year. …

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