WHILE public debate rages over the future of coal seam gas extraction, investor confidence shows no sign of recoiling from the controversial industry.
Last week ERM Power acquired a six per cent interest in gas company Metgasco Limited, at an estimated price of close to $7 million. This which follows a $21 million haul from its share purchase plan offered to existing shareholders in June and July.
Metgasco chief executive Peter Henderson said the capital wasn't to fund the current shift into its production phase on the Northern Rivers, though he was buoyed by the confidence the market is showing.
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Bundaberg Newsmail
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