Speaking of media reports this is GREAT news for BUL and its tenements in the NT now BUL looks even more ATTRACTIVE GO BUL....
Fracking is set to resume in the Northern Territory, following the Government's decision to lift a moratorium but enforce strict new laws and regulations on the industry.
Key points
The NT Government has lifted a moratorium on hydraulic fracturing
It will adopt 135 recommendations of a scientific inquiry, designed to bring risks down to acceptable levels
A number of "no-go" zones, where fracking is not allowed will be estsablished
Chief Minister Michael Gunner said all 135 recommendations of a recent scientific inquiry would be implemented in full, as he announced the decision on Tuesday morning.
He had imposed the moratorium before he was elected, saying the expansion of the resources industry depended "on the social approval of the people of the Northern Territory".
A scientific inquiry led by Justice Rachel Pepper then spent 15 months investigating the issue, and found the risks of fracking could be reduced to acceptable levels if 135 recommendations were implemented in full.
Cabinet met yesterday ahead of the announcement this morning.
BUL Price at posting:
11.8¢ Sentiment: Buy Disclosure: Held
