Hi
@dist
I'm new to this thread, but have been invested in EMP for a while and recently upsized my holding a fair bit. I had similar concerns to you, but can't see anything to suggest that the Vic Govt intent not to approve this project, but acknowledge that risk is still there, albeit an unlikely risk IMO.
The reason why I think it's unlikely not to be approved are:
- There are numerous other companies and operators in the Gippsland Basin area (why would this be different)?
- EMP are evidently spending time/effort/money to get relevant plans, applications and permit approvals from the VIC Govt (you'd assume EMP have done their homework, and they wouldn't be progressing this project if it were likely not to be approved).
- I see Gas shortages in Australia and around the globe being a commercial driver for getting approval for this project (i.e. there will be pressure from Federal Govt on the Vic Govt to approve such projects).
- VIC Government websites suggest they are continuing and expanding the offshore Gas exploration:
Here's some reading material to support:
Ref:
https://earthresources.vic.gov.au/projects/victorian-gas-program/offshore-gas:
Victoria Gas Exploration expansion in 2020/21:
https://earthresources.vic.gov.au/g...acreage-releases/oil-and-gas-acreage-releases
This one is quite interesting, (NOPSEMA are the decision making authority for submissions), here's an example - 3 month turnaround in 2019.
https://info.nopsema.gov.au/activities/25/show_public
Shortly, I believe if EMP (AGR) follow the requirements (see link below) for the Environmental Plan submission, there is nothing to suggest they won't get approvals.
https://www.nopsema.gov.au/sites/default/files/documents/2021-03/A339814.pdf
+ AGR know what they are doing:
https://agr.com/about/our-story/
FWIW, I'm just a novice investor, do not work in the O&G industry. This is just my own reading and understanding. I've been fairly successful with other similar investments in the past.
All IMO, DYOR etc etc...
I hope this helps!
Cheers
MSN
