So in terms of seeking damages, I was doing some reading this morning and found out that in 2015 New South Wales agreed to pay Metgasco A$25 million ($19 million) to buy back three exploration licenses after UNLAWFULLY suspending approval for drilling at a promising coal seam gas site due to public protests.
Jeff Lynn, a partner at law firm Ashurst who later commented on Lakes Oil's attenpts to seek damages like Metgasco he said it would be difficult to win compensation from the Victorian government, because, mining and petroleum licenses are not property rights. They are administrative entitlements, which a government can terminate with legislation.“ As a general rule, when governments take away entitlements under mining and petroleum legislation, then there’s not a right to compensation,” he said.
I realise that Pep-11 is in Commonwealth waters, not state waters and that the Federal Government made the decision to cancel the licence so obviously there are differences between the cases.
I mentioned in a previous post my concerns that at the recent press conference, Jason Falinski seemed to suggest that the Government will avoid any issues regarding compensation because they didn't allow Zali's Bill to pass. Does anyone know whether the Bill relevant as to whether or not the company has grounds to seek compensation?
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