CTP 1.96% 5.2¢ central petroleum limited

NGP Construction Complete & Fracking Implementation, page-19

  1. 23,467 Posts.
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    It sucks up badly when we have eastern States government not willing to bring up their own resources they surely have, and relaying solely on someone else to sort out their problems.

    Look at what the NSW Government did with MEL (Metgasco), when they lost a seat near Lismore to a greenie or someone else which didn't want any gas brought up to surface when huge amounts of gas were found and big reserves proved.

    From memory, and I can stand correcting if I am wrong, there was so much gas found that it could most possibly put CTP, and possibly many other O&G companies to shame. Yet they were forced out of the area without even given any reasons it was done. They just refused to renew their licences when expired, and made to properly plug and close the wells. Even the good ones were all closed up and properly dismantled, while giving them $20 million dollars for their troubles. All that thank to the Coalition Government.

    And now they are screaming for gas which they haven't got when all the gas in that area was to be used solely for the benefits of the NSW and local Industries. They were even going to build a power station in the area which would have created competition with the end result of cheaper electricity prices for the area and local community.

    Go Figure!!!!!
 
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