Metgasco Limited (Metgasco) is engaged in gas exploration, appraisal, development and investment in and development of associated energy infrastructure. The Company operates in two segments: Hydrocarbon exploration and development, and Richmond Valley Power Station. The hydrocarbon exploration and development segment comprises the exploration, evaluation and development of principally coal seam gas and also conventional gas in the Clarence Moreton basin in northern New South Wales, Australia. The Richmond Valley power station segment relates to the operation of a 30 megawatt gas fired power station located outside the township of Casino, New South Wales. Metgasco holds a 100% interest in three petroleum exploration licenses (PEL's) covering approximately 4,556 square kilometers in the Clarence-Moreton Basin in northern New South Wales, which include PEL 13, PEL 16 and PEL 426 interests.