Dart buys Arrow LNG NSW permit

Dart Energy acquired the PEL445 coal seam gas exploration licence in northern New South Wales from Arrow LNG. The 7,100 square kilometre licence in the Clarence-Moreton Basin is important because it contains exploration potential that could affect Dart's near-term development plans and investor interest in Australian gas assets.

PEL445 covers about 7,100 square kilometres in the Clarence-Moreton Basin, spreading inland from Byron Bay and Lismore in northern New South Wales.

The licence area could have as much as 18 trillion cubic feet of gas in place. 'Gas in place' is an estimate of the total gas present underground; the article notes that a much smaller portion is likely to be economically recoverable.

Arrow sold its northern NSW coal seam gas exploration interests to Dart for a nominal sum. Dart described the transaction as involving a 'modest cash payment,' reflecting Arrow's decision to focus on its Queensland interests.

Arrow had drilled 15 exploration wells in the PEL445 licence area prior to the sale, providing a foundation of exploration data for Dart.

Yes — Dart's management team said they were familiar with PEL445 because they carried out the majority of the exploration work there while they were at Arrow. That existing technical knowledge can reduce early-stage execution risk for investors.

Yes — the same coal seams targeted in PEL445 are also being targeted by ASX-listed junior Metgasco, which has contributed to stiff community opposition in the region.

Dart's Australian chief, Robbert de Weijer, acknowledged community concerns and said the company will put effort into engagement. He also stated that coal seam gas is a 'very safe industry' and 'much cleaner than coal,' highlighting Dart's intent to communicate with local communities.