Metgasco
chief executive Peter Henderson said they would be seeking compensation for the
year-long suspension of the drilling licence and all associated losses of the
suspension, which could run as high as $15 million.
Mr
Henderson said Metgasco would require a further $110m if the company was forced
to exit its operations in the state’s north.
[The
Australian, 27 April 2015]
One
hundred and ten million dollars is a small price to pay to protect an existing
NSW North Coast* regional
economy which annually
contributes an estimated $20.6 billion plus to the Gross State Product (GSP) or
15% of the total NSW GSP.
In
2012-13 the Northern Rivers** (where
Metgasco has its exploration leases) contributed $13.6
billion in Gross Regional Product (GRP) to the North Coast regional economy, in
large part via its tourism, agribusiness-forestry, manufacturing and commercial
fishing sectors.
*
Local Government Areas: Ballina, Bellingen, Byron, Clarence Valley, Coffs
Harbour, Gloucester, Great Lakes, Greater Taree, Kempsey, Kyogle, Lismore,
Nambucca, Port Macquarie-Hastings, Richmond Valley, Tweed.
**
Local Government Areas: Ballina, Byron, Clarence Valley, Kyogle, Lismore,
Richmond Valley, Tweed.
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