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EXHIBIT 23.1
The Board of Directors
Petsec Energy Ltd
CONSENT OF INDEPENDENT AUDITORS
We consent to the incorporation by reference in the Registration Statement on
Form S-8 (No. 333-6128) of Petsec Energy Ltd of our report dated April 15,
2000, relating to the consolidated balance sheets of Petsec Energy Ltd and
subsidiaries as of December 31, 1998 and 1999 and the related consolidated
statements of operations, comprehensive income (loss) and cash flows for each
of the years in the three year period ended December 31, 1999, which report
appears in the December 31, 1999 annual report on Form 20-F of Petsec Energy
Ltd.
Our report contains an explanatory paragraph that states that the Company and
its wholly owned subsidiary have suffered losses from operations and have net
capital deficiencies, which raise substantial doubt about the Company's ability
to continue as a going concern. Furthermore, subsequent to December 31, 1999,
the wholly owned subsidiary filed a voluntary petition under Chapter 11 of the
U.S. Bankruptcy Code. The consolidated financial statements do not include any
adjustments that might result from the outcome of this uncertainty. Finally,
due to the significance of the aforementioned uncertainty, we are unable to
express an opinion the 1999 consolidated financial statements.
/s/ KPMG
Sydney, Australia
June 30, 2000
