Dart Sells New South Wales CSG License to Our Energy Group

Dart Energy has announced the sale of its coal seam gas license in New South Wales, Australia to Our Energy Group for A$250,000.

A further payment of A$250,000 could follow depending on certain project milestones, including the granting of a production licence in the future.

PEL 461 is located in the Sydney Basin, southern New South Wales and covers approximately 74 km2 with an independently assessed best estimate Original Gas-in-place (OGIP) of approximately 158 Bcf.

Dart believes that this sale reflects the potential that CSG has to offer in NSW and the substantial value embedded in the company’s broader portfolio in NSW which still covers in excess of 25,800 km2 (excluding area covered by PEL 461), the company said in a statement.

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