CSG exploration buyback at Yamba
NSW government has bought back and cancelled a Petroleum Exploration Licence covering 75,000 hectares of the Northern Rivers.
Resources Minister Anthony Roberts announced the buyback of PEL 457 from ERM Gas Pty Ltd this afternoon under the NSW Gas Plan.
ERM had already sold back PELs 478 and 479, both located between Lismore and Coffs Harbour, with PEL 457 covering an area 23 kilometres west of Yamba.
"The PEL buy-back scheme, Action 4 of the NSW Gas Plan, has now seen 16 PELs bought-back from titleholders and cancelled," Mr Roberts said.
"We have now reduced the footprint of CSG from around 60 per cent of NSW to around 8.5pc.
The PEL buy-back scheme under the NSW Gas Plan has been extended to 30 September 2015.
