Gas developer Dart Energy Limited
(ASX:DTE) has welcomed the New South Wales Government’s new framework for the coal seam gas industry.
The Strategic Regional Land Use Policy is structured to allow the state to sustainably develop its gas resources in co-existence with other land uses.
Dart says the state government will now make offers of renewal on a number of Petroleum Exploration Licences in New South Wales, including all of the company’s licenses.
As a result Dart will be able to progress its well programme, targeting gas supply to the domestic market.
Dart’s CEO says the New South Wales approvals process is the most rigorous in the country but Dart is pleased it has a decision at last, clarity of process and a clear way forward.
Dart Energy booked a net loss of $20.8 million in the first half of the 2012 financial year.
