Metgasco Limited's largest shareholder appears to be losing interest in the fate of this coal seam/tight gas explorer and wannabe production company.
Unfortunately with the ordinary share price being firmly in the 2 cents range, ERM Power will have to wait before any move to sell off its interest in this company.
Metgasco's ailing fortunes will not have been helped by the fact that one of the main planks in its argument for the establishment of Northern Rivers gasfields - ie. that these gasfields would bring down the cost of gas for business and residential users - has been contradicted by the Select Committee on the Supply and Cost of Gas and Liquid Fuels in New South Wales (25 February 2015) report which states gas prices; will rise regardless of whether there is an indigenous supply...Eastern Australia is becoming part of a single global market for commodity gas, and wholesale prices are being increasingly set by international prices. In the future, it is likely that NSW gas retailers will have to compete with offshore demand and pay export parity prices for wholesale gas.