A few facts you may not know about coal seam/tight gas exploration company Metgasco Limited in 2014

Metgasco Limited’s profile in the financial year 2013-14:

* there were only 6,331 shareholders as at 30 June 2014
* had 1,202,222 ordinary shares on offer on 30 June 2014 according to the company's 2013-14 annual report;

* its largest shareholders were ERM Power (majority owned by the St Baker family) and the St Baker family of Queensland who held a total of 13.41% of the company’s fully paid ordinary shares;

* held a 100% interest in three exploration licences on the NSW North Coast covering approximately 4,556km², PELs 13, 16 and 426;

* had three listed subsidiaries, Clarence Morton (No.1) Pty Ltd, Richmond Valley Power Pty Ltd and Loins Way Pipeline Pty Ltd;

* although operating at a loss it paid 5 directors and 1 executive officer over $1.3 million in remuneration;

* paid no tax or royalties;

* had less than 10 employees in total according to statements made to the media in March 2013;

* had no female directors or women in senior executive positions;

* for the convenience of its board and employees maintains one city and one regional office, with the city head office costing somewhere in the vicinity of $112,000 per annum in rental costs;

* a shareholder group tried to unseat the board of directors in September 2013;

* the ordinary share price continues the downward trend which began in 2008;

* appears to have sunk no new wells from 1 July 2013 to date and, according to NSW Resources & Energy mapping has drilled less than 40 gas exploration wells since the company was formed in 1999;
* had no beneficial interest in any farm-in or farm-out agreements;

* in July 2013 there was an explosion during the decommissioning of PEL 16 well Kingfisher E01;

* permission to drill well site Rosella E01 on PEL 16 was suspended by the NSW Government in May 2014;

* had  PPLA 9 and PELA 130 in the Casino district still unapproved as at 30 June 2014; and

* the PEL 426 exploration licence due for renewal in February 2014 has not received renewal approval to date, according to NSW Resources & Energy list of .Petroleum Titles and Applications current as at 1 July 2014.

NOTE: From 29 October 2014 every New South Wales tenement that the company currently holds is covered by the NSW Labor Party policy banning coal seam/tight/unconventional gas exploration and production in the Northern Rivers region.
No judgment has been handed down yet in Metgasco Limited v Minister for Resources and Energy (Case # 201400165970) before the NSW Supreme. 

Tony Abbott's strange view of Australian history strikes again

The Abbott Government is now turning its ideologically blinkered eye towards ‘reforming’ the federation of states which underpins the Commonwealth of Australia.

Then we had no national government. Then, as we’ve been reminded earlier this evening, we had six colonies, each of them with a prime minister.....

A hundred years ago the states were clearly responsible for funding and operating public schools, public hospitals, public transport, roads, police, housing and planning. Under our constitution, the states are still legally responsible for them...

[Prime Minister Tony Abbott, Sir Henry Parkes Commemorative Dinner speech, 25 October 2014]

Oh dear, Australia had six prime ministers prior to Federation? Under the Australian Constitution the states are clearly responsible for funding public hospitals?

No, Mr. Abbott. The six colonies had six premiers, which headed governments with more limited power than a post-1901 federal government headed by a prime minister, because they were legally obliged to take direction from the British government of the day and a federal government is not so obliged.

As for who is responsible for providing public hospital services, the constitution clearly states that Commonwealth has the power to make laws for the provision of pharmaceutical, 

sickness and hospital benefits, medical and dental services and it was under Part V – Powers of the Parliament that the federal parliament created universal health care including inpatient/outpatient free care in public hospitals. So the federal government has accepted that it is responsible in large measure for funding public hospitals and clearly in broad control of health service delivery.

Thankfully it will take a majority of people in a majority of states and a majority of people across the nation as a whole vote 'yes' to whatever question our historically illiterate prime minister decides to put to the electorate in any national referendum seeking to dismantle the federation model in the Australian Constitution.

With his tin ear, I cannot see him convincing the average voter that 'reforming' the constitution to further cost-shift towards the states is a good idea.

The Northern Rivers marched in step to demonstrate its resolve to keep gas fields out of the region

Some of the images on mainstream & social media with reporting on the day as the Northern Rivers marched to show its resolve........

NBN News  1 November 2014:

In an unprecedented show of solidarity, around 10,000 people took to the streets of Lismore today – to declare the region gasfield free.

It’s the biggest social movement of its kind in the region, which is calling on the government to ban unconventional gas mining.

ABC News 1 November 2014:

More than 5,000 protesters turned out on the NSW north coast to show their anger at plans to try to restart a coal seam gas (CSG) project in the area.

The anti-CSG rally took place in Lismore's CBD and was staged in response to a court case in progress which is dealing with the suspension of a CSG licence in the area.

The NSW Government suspended the licence six months ago and the issue is now before the courts waiting on a decision about the validity of the suspension.

Residents in northern NSW have continued to show their strong opposition to CSG has not changed, with march organisers saying the big turnout was a message to gas companies and the government.

Rock Valley farmer Bevan Jolley said he has become disillusioned with the National Party, which he once identified with.

"I've voted National Party ever since I got to vote and I am 70 years of age now but I am very disgruntled with the way local pollies are treating us," Mr Bevan said.

"They get our vote and then when something big like this [CSG] comes up they seem to not want anything to do with it. When they go back to Parliament they don't bring it up."

Mr Jolley said it is not in his nature to protest but he feels he has to because he is concerned about the effect of CSG on ground water on and near his property where he runs beef cattle and grows macadamias.

"Everyone doesn't want to have to protest to try to stop something ... we vote in politicians to do the job for us but these fellas aren't doing it," he said.

"If you bugger up that underground water, that's it, you can't fix it."….

Northern Rivers Guardians 1 November 2014:

What a great day! The march in Lismore today was a happy, huge success and NRG was well represented. Thanks to all who took part in the LTG Alliance regional march and rally to declare the Northern Rivers Gasfield Free.
We are tired of waiting for the politicians to truly represent the more than 90% of NR residents who have declared their roads and villages to be Gasfield Free . So we declared it ourselves. Well done everyone ! The people have spoken.
Estimates of crowd numbers vary from 5,000 to 10,000. I tend to support the higher figure as there was obviously more people marching than when we did it 2 years ago and that was said to have been 7,000. We also had the rare experience of the head of the march meeting the tail as we circled back on the route around the CBD: this didn’t occur in 2012 over the same route…..

Significantly, shopkeepers and onlookers gave visible support to the cause, especially when we chanted ”Thomas George has got to go”. Seems the Lismore electorate is looking shaky for the Coalition…..

MEDIA RELEASE: 1^ST November*

MASSIVE TURN OUT FOR GASFIELD FREE RALLY IN LISMORE TODAY

Organisers of today’s Gasfield Free event in the Northern Rivers have described the day as a huge success. An estimated 8,000 people from across the Northern Rivers region turned up in Lismore today for the declaration, march and rally.

“The determination and commitment of the community of the Northern Rivers to remain Gasfield Free is undeniable,” said Gasfield Free coordinator and rally organiser Elly Bird.

“This community is saying loud and clear that they want full cancellation of the licenses across the region, and nothing less will serve.”

“Today’s event makes it very clear that opposition to invasive gasfields in the region is not going away.”

“The NSW government needs to take decisive action and join Labor and the Greens in making a commitment to permanently protect our region,”  she said.

Video footage of today’s event is available at this link: https://vimeo.com/110635419

* Courtesy of Lock the Gate Northern Rivers Regional Alliance and Yuraygir Coast and Range Alliance

 

After spending tens of millions of taxpayers' dollars, Tony Abbott fails to land a killer blow on Julia Gillard

Tony Abbott became one of the true believers, convinced Gillard was corrupt or at least guilty of “something”. Abbott would tell colleagues he wouldn’t be surprised if Gillard “ended up in jail”. To place added pressure on the former PM, Abbott announced the Coalition, in government, would hold a judicial inquiry into the affair, adding other dodgy union deals such as the stinking mess of the Health Services Union. [The Courier Mail 13 September 2014]

Mr Abbott said Ms Gillard had been a "dodgy and unethical lawyer". The criticism was not about gender; she had "failed the character test". [Herald Sun 30 November 2012]

Having reportedly spent in excess of $24 million to date on his Royal Commission Into Union Governance and Corruption, Australian Prime Minister Tony Abbott has failed to get the scalp he most prized – that of his predecessor former Labor prime minister Julia Gillard.

Counsel Assisting Submissions, 31 October 2014

http://www.tradeunionroyalcommission.gov.au/Submissions/Documents/SubmissionPart1-1.pdf