Sunday, 26 February 2017

Whatever happened to Metgasco Limited?

After Metgasco Limited left the NSW Northern Rivers region with its pockets stuffed full of compensation dollars because local communities resisted its efforts to create a coal seam gas industry in the middle of biodiverse, culturally rich and productive rural landscapes, it temporarily sank from sight.

According to Metgasco:

Metgasco appears to be partly or wholly exploring on land over which the Wongkamara peoples hold Native Title.

The company has another project underway in the Gulf of Mexico where it has acquired farm-in rights from Byron Energy Ltd in exchange for an est. A$1.3m investment – thereby deploying  approx. 27% of Metgasco’s current financial resources.

Peter Henderson, the CEO that Metgasco let go in May 2016 with a $300,000 handshake, was last heard of looking for work with Perth-based Tap Oil Limited.

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