Sydney Gas applies for second production lease, founding director resigns

Coalbed methane player Sydney Gas Company is not sitting on its laurels. Within days of being granted New South Wales' first petroleum production lease, the company has advertised its application for a second petroleum production lease.

The company said its second 'Development Application' for additional production wells to be tied into the Ray Beddoe Treatment Plant, and the corresponding Statement of Environmental Effects, have been lodged with Planning NSW. The documents have been on public display since mid-August, SGC added.

Earlier in the week, SGC was awarded the states first petroleum production lease "PPL 1". The company said the granting of PPL 1 provides security of tenure and the opportunity to sell even more gas into the NSW market from wells within the first stage of the 300 well Camden Gas Project.

In other SGC news, one of the company's founding directors, Shane Doherty, has resigned as a non-executive director of the company and its subsidiaries.

SGC chairman Domenic Martino thanked Mr Doherty for his contribution in helping Sydney Gas to position itself as an emerging producer of natural gas in New South Wales.

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