post developments, page-7

Metgasco - $100 million project suspend with it 5-10 PJ/a of LOCAL gas sales.

Arrow Gone - Arrow has not conducted any drilling in the NSW tenure for 18 months. Looking to transfer PEL 445 to Dart a 7100sq km in a horseshoe-shaped area around Casino in northeastern NSW, in the same basin as Metgasco. Dart sees the value but are willing to sit back.

Dart Energy - In response to NSW regulation. Dart Energy’s Chairman, Nick Davies, suggested that investment capital will move out of the state and overseas as a result of the changes.

AGL - $325 million of investment in exploration acreage in both the Hunter Valley and at Camden has put it's application to develop 66 coal seam gas wells in western Sydney on HOLD.

Santos - Spent $722m acquiring NSW coal-seam gas ESG, a $500m, three-year exploration and appraisal drilling program over the assets has been HELD UP.

ERM/Red Sky - should be in a similar boat.

NOW BOF you do the numbers how much captial have just been diverted away from NSW? how much captial has been diverted away from the northern NSW? What is the accumulated impact on small businesses in the area who supply to the industy? number of job losses throw knee-jerk policy reaction?


New South Wales' 1.04 million household and business gas customers will pay higher costs over the next few years the message has been sent to the ones like ExxonMobil and BHP Billiton that NSW will be a net importer of gas.

For manufacturing and busienss customers it more grim, even with Paul Howes and Sue Mophet (new Chairman of Manufacturing Australia) championing gas reservation there has be gas extraction there and stable industry before any supply flows.