Dec 22 (Reuters) - Metgasco Ltd MEL.AX :
* "As part of the settlement, exploration licences PEL 13 and PEL 16 have been cancelled"
* Metgasco Limited advises that it has received $25 million from NSW government
* Has withdrawn its renewal application for pel 426 and for production licence (PPLA 9)and has formally withdrawn from court action
* Also received refund of $430,000 in bonds
* Says as of 31 December, Metgasco expects to have cash reserves of approximately $31 million
* Source text for Eikon ID:nASXbMPnjF