The Mercury: Oil prospector's woes
SALLY GLAETZER | September 04, 2010 09.06am
A SUPREME Court application has been lodged to wind up controversial Tasmanian oil prospector Great South Land Minerals.
Hunt Energy, which is owed money by Great South Land, has started legal proceedings in Hobart to have the company wound up on the grounds of insolvency.
It has been reported GSLM has said it will "vigorously" defend the legal action.
The company's chief executive, Malcolm Bendall, has been searching for oil in Tasmania since having a "vision" from God in 1977 telling him there are structures containing oil and gas in the state.
The company has spent $50 million of shareholders' money looking for oil and it is understood more than 200 Tasmanians have invested in it.
Mr Bendall's company contracted South Australian firm Hunt Energy to set up a drilling rig at Bellevue, near Bronte Park in the Central Highlands, in late 2008.
But the anticipated drilling operation has repeatedly stalled and Hunt Energy is now taking court action, seemingly in a bid to recoup the money it is owed.
Court documents allege GSLM has not paid a "statutory demand".
Launceston-born Mr Bendall, reportedly in New York at present, flew to Tasmania from Monaco in late 2008 to oversee the drilling program.
Mr Bendall, in his early 50s, brought his then 19-year-old Russian wife with him to stay at his hilltop Sandy Bay mansion.
Drilling was planned to start in December 2008.
Mr Bendall could not be contacted for comment yesterday, nor could GSLM chairman Clive Burrett.
The Mercury was advised by Hunt Energy that no one from that company would comment on the legal action.
In 2003 an advertising campaign seeking investors featured Tasmanian sporting identity David Boon and axeman David Foster.
Mr Bendall left Tasmania a short time later for about five years, alleging he had received death threats from "parties" wanting to take over his company's exploration licences.
Tasmanian Resources Minister Bryan Green said GSLM was granted a further exploration licence this May after its previous one expired last September.
Under its terms, the company is obliged to carry out drilling of the Bellevue and Thunderbolt wells during the two-year licence period.
Mr Green said yesterday the Government would review any change affecting the licensee's ability to meet its obligations.
