Is Metgasco being entirely honest with the Northern Rivers?

No-one can deny that Metgasco Limited is a listed public company incorporated in New South Wales, Australia or that it is considered a ‘junior’ coal seam gas mining business.

Also on the public record is the fact that it is the ultimate holding company for Clarence Moreton No.1 Pty Ltd and The Lions Way Pipeline Pty Ltd, as well as being a shareholder in Richmond Valley Power Pty Ltd.

Like many other mining corporations its directors and senior staff have worked for many players in the industry, including Exxon Mobil, and some like Steven Joseph Koroknay hold multiple directorships.

Even Metgasco’s largest shareholder CSG Nominees Pty Ltd is registered in this country – in Perth WA.

All in all it would appear that Metgasco is a true blue Australian company with its eye set firmly on the domestic market as it stated on 24 January this year:

we are seeking approvals to allow us to sell gas locally… by year’s end… to local businesses…

Then there is this.................

Metgasco’s largest shareholder is a wholly owned subsidiary of Liquified Natural Gas Limited (LNG).

LNG’s major shareholder as of 5 February 2013 is China Huanqiu Contracting And Engineering Corporation (HQC) which in turn is owned by the Chinese Government.

This is a flow chart of the relationship between Metgasco, LNG and China.

It would seem that any local gas sales are a minor consideration and that Metgasco sees its future in the export market once Fisherman’s Landing is completed.

Supplying LNG with between 90-260 tj of gas per day for a minimum of 15 years, which appears to be almost all of the total projected daily production at Casino under its current license.

A sustained supply volume which is problematic given that in 2013:

A Bell Potter energy analyst, Johan Hedstrom, said the quality of the coals in the Clarence Moreton Basin was "not as good as it is in the Surat Basin" in Queensland, where much of the CSG development is based. Mr Hedstrom said the coals were lower-permeability which made it difficult to get commercial rates of flow, as Metgasco had found.

"There's a question mark, really, on whether these coals are going to be productive in a commercial sense.  

 

So where is Metgasco heading with its business plan? Is it being honest with North Coast local governments about its prospects? Will it able to meet either the domestic or export aims?

The impediments are obvious; the low rate of proven commercial flow, its present inability to fund construction of the proposed Lions Way pipeline between Casino and the Ipswich gas hub, the fact that in 2012 its major investor had to declare a $6.5 million impairment to its own shareholders due to Metgasco’s sustained low share value, its 17th largest shareholder just publicly abandoning it on ethical investment grounds and, a closing share price on the Australian Stock Exchange yesterday of less than 10 cents.

Paedophiles in the Catholic Church and those who enable them: The mindset never chages

Photograph from Urban Christian News

On 19 February 2013 News Ltd reported:

An association of US Catholics has launched a petition to keep a retired Los Angeles cardinal mired in a pedophilia scandal from taking part in the conclave that will choose the next pope.
The group, Catholics United, is targeting Roger Mahony, who last month was relieved of all church administrative and public duties for mishandling abuse claims against dozens of priests, dating back to the 1980s.
"Cardinal Mahony: Stay Home," the online petition reads.
"Your further implication in the church sex abuse scandal and being barred from public ministry in the Archdiocese of Los Angeles should be an indication to you that you should not attend the next Papal Conclave."
Mahony was stripped of his duties by his successor, Archbishop Jose Gomez, who took over for him in 2011.

This is what disgraced L.A. Cardinal Roger Mahoney wrote in his personal blog on 14 February 2013:

 

Given all of the storms that have surrounded me and the Archdiocese of Los Angeles recently, God's grace finally helped me to understand:  I am not being called to serve Jesus in humility.  Rather, I am being called to something deeper--to be humiliated, disgraced, and rebuffed by many.

I was not ready for this challenge.  Ash Wednesday changed all of that, and I see Lent 2013 as a special time to reflect deeply upon this special call by Jesus.

To be honest with you, I have not reached the point where I can actually pray for more humiliation.  I'm only at the stage of asking for the grace to endure the level of humiliation at the moment.

In the past several days, I have experienced many examples of being humiliated.  In recent days, I have been confronted in various places by very unhappy people.  I could understand the depth of their anger and outrage--at me, at the Church, at about injustices that swirl around us.

Thanks to God's special grace, I simply stood there, asking God to bless and forgive them. [red bolding is mine]

 

Apparently this Prince of the Church sincerely believes that victims of sexual abuse, their families, friends and supporters are to blame for the harm he did.

ABC hacked - details of around 49,561 people who've commented online now up on PasteBin

 Cyber War News

 

If you created an ABC account you may have a need to change the password on any email account you used to register.

 

This email address is visible on PasteBin - along with your location,  IP used and comment made.

You may no longer be as anonymous as you once thought, even if you used an online pseudonym.

So Internet users, like kitty who posted To love and be loved over two years ago, are now visible and vulnerable.

Playing regional politics results in false savings

 

The Daily Examiner 20  February 2013:

 

THE Clarence Valley Council has chosen to opt out of Northern Rivers Regional Organisation of Councils (NOROC) with Mayor Richie Williamson saying membership does not represent bang for our buck.

The motion was eventually passed unanimously at last night's ordinary meeting but Cr Jason Kingsley did question whether the Valley would benefit from having allies.

"I would assume councils would be looked upon more favourably if they were part of an alliance rather than just shag on a rock," Cr Kingsley said.

But Cr Williamson was clearly steeled in his resolve; the Valley did not need NOROC.

Letter to the Editor in the same newspaper 23 February 2013:

 

Please explain

Clarence Valley Council is saving $20,000 by withdrawing from the Northern Rivers Regional Organisation of Councils. According to Mayor Williamson, Clarence Valley Council is not getting enough "bang for our buck" through membership.
Was it just coincidence that the council has voted to spend the same sum - $20,000 - on planting and decorating nine Christmas trees? Does this decision give us "bang for our buck"?
Spending $20,000 on Christmas trees is a gross waste of money. NOROC membership offered better value.

Leonie Blain

Grafton

 

Online comment 21 February 2013:

 

Would it be too cynical to suggest that Nationals stalwart Mayor Williamson may be demonising other Far North Coast councils in order to further the NSW Coalition Government's preference for a super council centred in Coffs Harbour and including the Clarence Valley?
EmmaB from Yamba