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 $924m gas buyout as Eastern Star sells to Santos 

$924m gas buyout as Eastern Star sells to Santos

19 Jul, 2011 04:00 AM
The resources-rich revolution across the Liverpool Plains has reached another stunning high with the $924 million coal seam gas buyout by Santos yesterday.

The Santos offer for Eastern Star Gas, which proposes gas fields and wells across the Pilliga, and gas pipelines across the plains, will reportedly make Santos the largest coal seam gas player in NSW.

The acquisition news came on the back of other resources boom negotiations and moves that sees a huge investment stake increasing across the Gunnedah basin and the black soil plains.

Santos immediately moved to ease fears from farmers – already showing signs of stress and anxiety about the coal industry move onto prime agricultural land – saying it would develop its business in consultation with farmers.

Meanwhile, dryland farmers near Gurley have gone for a fighting fund to fend off what they say are unwanted advances from gas explorers.

And in Werris Creek, the delivery of a development application from a company that supplies coal mining accommodation has revealed plans for a long-term $48 million village for miners, with an initial $10million build that will provide 300 rooms across the road from the local golf club.

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