Posted in | News | Natural Gas | Crude Oil / Petroleum

Great South Land Minerals Fights for Tasmanian Oil Titles

By Joel ScanlonMar 1 2011

Oil and gas exploring company Great South Land Minerals (GSLM) is in court hoping that the state government of Tasmania will return the mining titles that it was stripped off. The GSLM titles are supposed to be offered to other interested parties by the state government pending the decision of the Tasmanian Mining Tribunal.

Last year in May the Tasmanian state government withdrew 10 of the original 12 mining titles that GSLM held. The company is now seeking the exploration leases to be reinstated with them. They say that the titles were confiscated without legal, commercial or political justification.

The explorer whose chief executive Malcolm Bendall says that he was driven to explore the area in a vision from God said that the decision to revoke the exploration rights could cost the company billions of dollars. He said that the company had already spent $ 50 million exploring for oil and gas in the state last year.

Mr Bendall also said that GSLM had successfully discovered and wishes to bring into production more than 12 prospective oil and gas resources. However with the state government cancelling its exploration rights it would wipe out billions of dollars off the balance sheet and in expected profits. The hearing will be held today at the Hobart Magistrates Court building.

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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APA
Scanlon, Joel. (2019, March 19). Great South Land Minerals Fights for Tasmanian Oil Titles. AZoMining. Retrieved on November 22, 2024 from https://www.azomining.com/News.aspx?newsID=3490.
MLA
Scanlon, Joel. "Great South Land Minerals Fights for Tasmanian Oil Titles". AZoMining. 22 November 2024. <https://www.azomining.com/News.aspx?newsID=3490>.
Chicago
Scanlon, Joel. "Great South Land Minerals Fights for Tasmanian Oil Titles". AZoMining. https://www.azomining.com/News.aspx?newsID=3490. (accessed November 22, 2024).
Harvard
Scanlon, Joel. 2019. Great South Land Minerals Fights for Tasmanian Oil Titles. AZoMining, viewed 22 November 2024, https://www.azomining.com/News.aspx?newsID=3490.