Rookwood Weir Update via Queensland Country Life

Queensland Country Life yesterday, published some good news for the Rookwood Weir Project.

Turnbull in town in Rockhampton for weir funding by Kelly Butterworth, 27 October 2016, 11:51am

Research Forum: Agriculture, Communities and Coal Seam Gas

Our Landowner Lawyer would like to share the following event.

The University of Queensland and AgForce Projects - CSG and Mining Project are co-hosting a forum to present Coal Seam Gas research to the communities of the Western Downs and Maranoa Regional Shire Councils.

The forum will include brief presentations on the results of recent research from the following research projects.

• Agriculture and CSG Interactions
• The Groundwater Atlas
• Bore Monitoring
• Small-Medium Businesses
• Socio-economic Indicators
• Groundwater Predictions
• Community Sentiment

Attendees will be able to meet with researches, discuss the research findings and contribute your views to options for further research.

The Forum is FREE with Morning Tea, Lunch and Afternoon Tea provided.

You must RSVP by 11 November 2016.

When and Where:
Thursday 17 November 2016, 9.00am - 3.00pm (arrivals from 8.30am for 9.00 am start)
CHINCHILLA - Venue details will be confirmed via email/text the week prior to the event.

Register Today 
Visit www.agforceprojects.org.au or call (07) 3238 6048

For more information call (07) 3238 6048 or email csg@agforceprojects.org.au

CSG Wells and Your Mortgage

CSG Wells

There has been a bit of media attention lately regarding a bank turning down a loan application on grounds relating to some Coal Seam Gas operations on a property. An example of such a story can be found here.

https://www.theguardian.com/environment/2016/sep/30/commonwealth-bank-coal-seam-gas-makes-property-unacceptable-as-loan-security

Conduct and Compensation Agreement

It is usually a term of your bank mortgage that you must seek the consent of your bank prior to entering into any agreement for compensation relating to mining and/or gas activities on your property. It is therefore very important to provide a copy of any Compensation Agreement or CCA to your banker prior to signing any such document.

This will save you dealing with an angry mortgagee later and could have saved the landowners mentioned in the story attached from some problems.

If your bank is worried about any changes in the value of your land, then you can use their valuations or letters as a bargaining tool in your negotiations with a gas or mining company.

Sometimes, especially if the Activities to be performed on your land are quite substantial (e.g. a large gas pipeline), it is a good idea to chat with your banker about how your expected income stream on your property may be affected by gas or mining activities.

Your banker may like to hear from you about when any expected compensation money might be due to be paid to you so they can work with you in meeting the terms of your mortgage.

What can I do?

Conduct and Compensation Agreements for Mining and Gas Agreements are very complicated, and for this reason you should always involve your accountant, your lawyer and your banker at least in any negotiations you start. It is for this reason we would never advise a landowner to “Opt Out” of a negotiation.

The law also requires companies to reimburse landowner legal, accounting and valuation fees so it is always good to get advice on these types of negotiations.

Contact Energy, Environment & Agribusiness Partner, Melanie Findlay on (07) 4927 6333 or at enquire@reesjones.com.au.