Dart Energy Limited has received offers of renewal for 6 of its 7 NSW exploration tenements from the NSW Department of Trade and Investment, Regional Infrastructure and Services (DTIRIS).
The remaining licence renewal offer for PEL 461 is expected shortly as it only became subject to renewal earlier this month. All licence renewals are for 4 or more years.
The State Government’s comprehensive review of the regulatory framework applicable to coal seam gas over the last 2 years has caused delays to licence renewals and approvals for further exploration activity. As a result many exploration licences within NSW became subject to renewal.
With the recent release of the Strategic Regional Land Use Policy, the State Government indicated that they would renew the petroleum exploration licences across NSW in an attempt to secure the future energy needs of the State.
[mappress] LNG World News Staff, September 26, 2012