The NSW Government has confirmed it will not appeal the Supreme Court’s decision to reinstate Metgasco’s right to drill the Rosella E01 well. The two are now expected to meet out of court to discuss Metgasco’s claim for damages.
Metgasco’s Managing Director, Mr Peter Henderson said “The Supreme Court decision, handed down on 24 April, was strongly in Metgasco’s favour, finding against the Government on all three major points, any one of which was sufficient to overturn the suspension order. We are pleased that the NSW Government appears to have recognised this and has avoided the damage it would have done to investor confidence in NSW and the waste of taxpayer funds had it appealed the decision.”
Mr Henderson said “We would now like to meet with Government to discuss the damage caused to Metgasco as a result of the suspension decision and the future of the gas industry in the Clarence electorate. We would prefer to settle our claim for damages out of court. We are also keen and ready to drill the Rosella conventional gas exploration well and wish to confirm that the NSW Government will maintain law and order.”
Mr Henderson said “NSW needs a gas industry and the NSW Government needs to show the investment community that businesses will be encouraged and licence rights honoured.”
Metgasco had incurred approximately $360,000 in legal fees and expects to recover the bulk of these fees.