PEL 441, which is 100 per cent owned by Sydney Gas comprises, an area of 71.91 sq. km and is located 80 km north of Sydney, 40 km south-west of Newcastle as well as 14 km north-west of Wyong.
PEL 441 is within 3 km of the major coal mining district of Newcastle and is 7 km west of the main gas transmission line.
"This acquisition on the part of Sydney Gas is strategically important as PEL 441 overlays the Kulnura Prospect, giving Sydney Gas complete coverage of that prospect. PEL 441 also complements PELs 2 and 267, given their common borders," said Sydney Gas' chief executive officer, Dr Bruce Butcher.
