Australian Prime Minister Tony Abbott - bombed at the G20 and bombed in latest Newspoll

The Australian 18 November 2014:

In two-party-preferred terms, based on preference flows from last year’s election, Labor leads by 55 per cent to 45 per cent. The ALP’s third consecutive rise in two-party terms means the opposition has been in front of the ­Coalition on this measure for 14 successive Newspolls.

It would appear that it wasn’t just international and national media who felt that hosting the November 2014 G20 international summit did little for the political standing of either Tony Abbott or the Australian Coalition Government - as opinion polling conducted over the summit period (from Friday 14 when world leaders began to arrive through to the Sunday 16 and the final communique) clearly demonstrates.

Dissatisfaction with Tony Abbott’s performance rose by three points to 55 per cent and the number of poll recipients who saw him as the better prime minister fell by two points to 37 per cent.

Metgasco Limited intends to stay put on the NSW North Coast despite widespread community opposition to gasfields being established in the region

ABC NEWS 13 November 2014:

Metgasco is unlikely to take up any offer from the State Government to buy back its licence to operate in the Northern Rivers.

Today's CSG policy announcement included provisions for a one-off buy back scheme of previously approved licences.

But Metgasco managing director, Peter Henderson, said the company has spent too much time and money in the region to walk away now.

Metgasco media release 14 November 2014:

Response to NSW Government Gas Plan

Metgasco Limited welcomes the NSW Government’s recognition that gas supplies are essential to the future of NSW and that the gas industry can be managed safely.

Metgasco is, however, concerned about the repeated changes in regulation and policy since the current Government came to office and the uncertainty the latest announcement has created.

In March 2011 the NSW Government effectively put a hold on the industry while it created new regulations, which included a Strategic Land Use Policy and a myriad of other regulations.  In September 2012 it announced that the industry had the toughest standards in the world and gave the green light for exploration and development to proceed.  It correspondingly renewed exploration licences and announced the approval of Metgasco’s first production licence (just south of Casino). 

Since then it has taken a number of actions which have had the effect of stifling  the industry.

The new policy announcement does not sufficiently clarify the business and regulatory environment for the gas industry in NSW.  Business needs a degree of certainty to justify expenditure.   We now have new rules and regulatory responsibilities, many of which will not be defined until well into 2015, uncertainty about the rules for land holder compensation and some indication that the royalty regime might change to encourage exploration. 

Metgasco has invested approximately $120 million over the past ten years exploring for natural gas in NSW and has established the second largest gas resource in the state.  It did so with the expectation that its exploration rights would be respected.

Metgasco is seeking a meeting with the Minister for Resources and Energy to clarify the impact of the new policy on the potential of the significant gas resource in the Northern Rivers region. 

It is important that the NSW Government sends a message to all investors that NSW is a place in which investment can be made with confidence.

Metgasco Limited's ordinary share price is languishing at five cents.

Australian Stock Exchange:

Rupert Murdoch not squatting as securely on top of the News Corp dung heap?

The number of News Corp shareholders who do not unconditionally ‘love’ Rupert Murdoch appears to be growing if the 14 November 2014 statement to the United States Securities And Exchange Commission is any indication.

An estimated 31.30% of all eligible voters (or around 7 million more voters than last year) didn’t want Rupert Murdoch on the board of the company he inherited from his father, while 31.17% and 33.05% respectively didn’t want his sons Lachlan and James as directors either.

An estimated 46.05% of all eligible voters supported the dismantling of the dual class capital structure which reportedly gives Murdoch interests 39% of the company votes although his family owns about 15% of the equity.

* Broker Non Votes are: shares are held in a brokerage account, your broker is obligated to vote your shares as instructed by you. If you don’t give voting instructions to your broker, your broker’s ability to vote your shares depends on whether the item is “routine” or “non-routine.” The New York Stock Exchange decides whether an item is “routine” or “non-routine.”

Under the New York Stock Exchange rules, brokers may vote on “routine” items in their discretion on behalf of any customers who do not furnish voting instructions within 10 days of the annual meeting. With respect to “non-routine” items that come before the annual meeting for a vote, brokers would not be able to vote at all without first receiving voting instructions from their customers.

A broker “non-vote” occurs when the broker does not vote on a proposal because it is a non-routine item and the broker’s customer has not provided voting instructions. These broker “non-votes” would not be considered in the calculation of the majority of the votes cast and therefore would have no effect on the vote with respect to a non-routine item. [New York Stock Exchange]

** Dual Class Stock is: the issuing of various types of shares by a single company. A dual class stock structure can consist of stocks such as Class A and Class B shares, and where the different classes have distinct voting rights and dividend payments. Two share classes are typically issued: one share class is offered to the general public, and the other is offered to company founders, executives and family. The class offered to the general public has limited voting rights, while the class available to founders and executives has more voting power and often provides a majority control of the company.[Investopedia]

Arakwal National Park and Cape Byron State Conservation Area selected for the International Union for the Conservation of Nature's new 'green List' of protected areas

Sunrise at the most easterly point of Australia. Arakwal National Park and the Byron Bay Lighthouse see the first light of the day in Australia. Photo and caption byCheryl Styles

ABC North Coast NSW 14 November 2014:

Arakwal National Park was established in 2001, as part of a historical land use agreement between the Arakwal Indigenous community and the New South Wales state government.

Its management committee chairwoman Yvonne Stewart says the joint management arrangement has paid off.

"The biggest achievement is being able to have a say in the management," she said.

"We're just very pleased, we're very excited to be one of the first parks to be green listed in the world," she said.

Arakwal National Park employs about 12 Aboriginal people in ranger, maintenance and administration roles.

"A lot of our young people are working on the park and learning about their country, connecting back to country," Ms Stewart said.

"A lot of those are long-standing from the inception of the national park."

Ms Stewart says regeneration of flora and fauna and the removal of the introduced bitou bush species are some of the park's biggest environmental achievements.