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ARTICLE · 13 SEPTEMBER 2013

Energy sector update: September 2013 edition

Corrs Chambers Westgarth
Corrs Chambers Westgarth
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Corrs Chambers Westgarth

Corrs Chambers Westgarth

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This update is a summary of recently completed deals, market rumours and opportunities, and relevant regulatory updates.

AustraliaEnergy and Natural Resources

Recent announcements

On 22 August 2013, ASX-listed Dart Energy announced an update to its ongoing business restructuring. Dart Energy has announced that its main focus will be to progress Scottish CSG projects to development, as well as to continue exploration activities in relation to shale gas in the rest of the United Kingdom. Dart Energy intends to exit, relinquish, sell or farm-out of assets which do not align with the company's new focus, and that it will only retain several high prospect projects which entail low operating costs. In relation to Dart Energy's Australian assets, the company has noted that due to the current New South Wales Government policy, the near term prospects for CSG development of the licences it holds have been materially adversely affected. Dart Energy intends to retain its Australian assets but on a care and maintenance basis without any field activities planned. Dart has also announced that it is continuing discussions with unnamed

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