The verdict was made as campaigning for next year's election looms and a number of well-funded female independents line up to take on blue ribbon New South Wales seats on a climate agenda.
The permit in the offshore Sydney Basin is held by Advent Energy (85%) and Bounty Oil and Gas (15%). Advent is held by BPH Energy, MEC Resources and Grandbridge. All share director Dave Breeze.
The permit has needed renewal since February and has been the subject of fierce opposition from several centre federal Liberals with coastal electorates, but has had support from resources minister Keith Pitt, a National with a Queensland electorate.
A spokesperson for Pitt told Energy News that the minister had nothing to add on the subject.
Morrison has already said twice this year, in March and then November, that he is against the gas project going ahead, despite being generally in favour of gas development.
"This project will not proceed on our watch," Morrison said today.
"Gas is an important part of Australia's current and future energy mix but this is not the right project for these communities and pristine beaches and waters.
"From Newcastle through to Wollongong my Government has listened to the concerns of local Liberal Members and candidates and their communities and we're putting our foot down."
The government also wasn't satisfied the proponent had funding for the project and did not agree with the reasons Advent listed for wanting the extension.
"Well, I think people know my view about this. It's very clear. I can assure you that that's the position that I will continue to progress. And I think that should give people a lot of comfort that the Prime Minister is not supportive of that," Morrison said during a doorstop interview last month, before suggesting new coal mines in the state could go ahead provided they "meet all the environmental regulations".
He said in March cancelling the permit was the "right decision" but it was a matter the government was working through.
Morrison has informed the titles regulator and NSW deputy premier Paul Toole, who as one half of the joint authority with Pitt was ordinarily responsible for the decision.
Independent Zali Steggall, who took the seat of Warringah from former PM Tony Abbott, launched a Bill to Parliament this August to pull the permit.
A week ago BPH went into a trading halt pending news of a farmin agreement its vehicle Advent had apparently made; it also released a webinar this week on the importance of gas
"The PEP 11 Gas and proposed CCS Project at Baleen ( Seablue1 well) in the Offshore Sydney Basin has potential national significance," it said.
"It addresses both forecast gas shortages and the objective of Net Zero Emissions. Advent has committed all gas from the project to Australia domestic supply."
It has spent 2021 signing a number of agreements to progress the project and brought on specialists to manage varied aspects, including signing up one of the nation's carbon capture and storage experts, given its plans involved drilling a wildcat which would also investigate CCS possibilities.
In February it raised $9 million cash via an oversubscribed placement at 13 cents per share, a 23.5% discount on its closing price and a 20.2% discount on its 10-day average.
BPH said cash would be spent by Advent on well planning, engineering, and environmental approvals for an exploration well within PEP11.
Despite the pushback from parliamentarians, coastal dwellers, surfers and others, Breeze was apparently unmoved with one insider telling Energy News earlier in the year the MD was steadfast in his confidence in getting the project over the line.
Breeze could not be reached for comment.
BPH is currently suspended at 3.7cps.
