Gasfield Free Northern Rivers PR release published in full
Metgasco rig delayed by asbestos scare?
28 April 2014 According to Gasfield Free Northern Rivers, the speculative gas
exploration company Metgasco may have failed to provide adequate explanation for
the ongoing delays to their controversial drilling plans at Bentley near
Under ASX rules Metgasco has a legal
obligation to inform investors of the real reasons for any delays but has so far
failed to notify investors of the scale of local opposition to their proposed
drilling operations at Bentley.
Metgasco faces massive local opposition in the Northern Rivers with 87% voting
in a local government poll in Lismore in 2012 against invasive gasfields.
More recently over 3000 people have showed
up at the Bentley blockade and protesters have occupied the access to the
proposed drill site.
"Metgasco had told investors that the drilling would be available by mid April
 but in early April, and following a massive turnout of protesters at
Bentley, Metgasco advised the stock exchange that its drilling rig had been
delayed by rain in Queensland,"  said Aidan Ricketts, spokesperson for
Gasfield Free Northern Rivers.
"Documents have now come to light that suggest possible asbestos contamination
of the rig that will be used at Bentley is part of the reason for the delay." (See
"A letter from the company contracted by Metgasco to provide a rig confirms that
the rig in question has been caught up in the recent contamination event in
Queensland where coal seam gas drilling products were found to contain
"Gasfield Free Northern Rivers are calling upon Metgasco to come clean with the
real reasons for the delay," Mr. Ricketts said.
"Is it because of the overwhelming opposition in the Northern Rivers region or
because of asbestos contamination of the rig that will be used at Bentley, or do
they continue to stand by their claim to the stock exchange that it is rain in
Queensland that is causing the delay?"
"The ASX is currently investigating complaints that Metgasco has breached its
continuous disclosure obligations by failing to disclose the size of local
opposition to its plans in the Northern Rivers and by failing to disclose to
investors instances where its program is delayed as a result of the protest
"It appears that Metgasco may still be failing to tell the full story about why
its drilling operation is running so far behind schedule."