Sensationalist, popularist media and exactly what we have come to expect from the media these days.
Those compensation figures are nowhere near what the majority of companies are paying these days. Most payments are an order of magnitude higher than what was stated. New land access rules are quite clear that compensation must be agreed upon by both parties with cool down periods before the gas company can enter their property. If and only if, after several months of back and forth if an agreement cannot be made then the matter can be decided by the land court.
The claims of destroying the great artesian basin is scaremongering at its best. The coal seams are isolated and pumps are are used to withdraw the water. Firstly artesian water means it comes out under its hydraulic head. Secondly most farmers draw from shallow alluvial aquifers that are not connected to the coal seams. If the water wells are dropping then the farmer most likely is drawing from the coal seam itself. Thirdly its not the coal seams that recharge the great artesian basin.
Not sure which company wants to move peoples houses but this is unnescessary and uneconomic.
If farmers were required to abide by the strict environmental conditions the gas companies need to abide by then they would all be in breach or find themselves unprofitable.
MPO Price at posting:
$1.09 Sentiment: Buy Disclosure: Held
