Wooooo Hooooo Go BPH :)$$$$$$, page-18316

Thefirst draft of the proposed NSW legislation to ban sea bed mining andexploration can be found here:
https://www.parliament.nsw.gov.au/bill/files/18546/First%20Print.pdf

Interestingly,there is also an exemption contained within the proposed legislation at Section3 of the new Schedule 10.

3.Exemption regulations
(1)The regulations may exempt the following from the prohibition in section 2(1)—
(a)specified sea bed mineral exploration or recovery,
(b)specified development for the purposes of sea bed petroleum exploration orrecovery or sea bed mineral exploration or recovery.

(2)Before recommending the making of a regulation under this section, the Ministermust consult with the Minister administering the Protection of the EnvironmentOperations Act 1997.

Itappears that this could allow the NSW government to further legislate anexemption under this provision to allow a specific development on a case-by-case basis.

So, in its current form, this legislation proposes to ban all sea bed mining andexploration and any related infrastructure within NSW waters. This does not andcannot stop mining and exploration further out to sea (>5km) in Federalwaters. A pipeline through NSW waters would also be banned by the proposedlegislation. However, this ban could be exempted by further legislation ifdesired (or the price is right). Hmm, almost like they're hedging their bets!

Smokeand mirrors perhaps! Only seems to create another hoop to jump through. This carve out provides a chance (albeit slim and requiring NSW governmentapproval) that a pipeline from PEP-11 through NSW waters to shore remains apossibility.

Prioritieschange. The landscape could be different in 1-2 years time. Imagine if/when the PEP-11 drill is found to be successful. NSW is deep in an energy crisis andis crying out for more gas. Hey, it's only one pipeline, but it does solve our gas supply issues! Hello Section 3 of Schedule 10! Hello pipeline tosave NSW!

Good way at face value to appear like they're banning PEP-11, but not entirely ruling out benefiting from PEP-11 in the future if gas is found.

Anyway, that's how I read it.