Nov 2 (Reuters) - Metgasco Ltd MEL.AX :
* NSW government has offered to buy-back metgasco's three northern rivers petroleum exploration licences,
* Says offer proposes a settlement / buy-back sum of $25 million
* The offer proposes a settlement / buy-back sum of $25 million
* Says settlement offer comes after protracted discussions that have been ongoing since July this year
* Says Metgasco will be responsible for the decommissioning of its remaining two coal seam gas wells
* Says Metgasco will seek ASIC approval
* Source text for Eikon ID:nASX5jvD6y
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