Comet Ridge recently told a mining investor conference in Noosa it would "revisit the significant acreage" it holds "once Narrabri is approved".

Comet Ridge has joint ownership of three Petroleum Exploration Licences (PELs) - which cover the Moree and Coonamble, Walgett and Warrumbungles shires - with gas giant Santos.

"Santos are working to have their Narrabri approvals from the state government by the end of the year," Comet Ridge told investors.

"Comet Ridge has commenced an exploration review - magnetics, gravity surveys, seismic [and] old wells."

Santos refused to say if it was aware Comet Ridge had commenced an exploration review of the co-owned PELs.

"While development of the Narrabri Gas Project will inform our understanding of gas resources across the Gunnedah basin, Santos has no planned activities beyond the Narrabri Gas Project," a Santos spokesperson said.

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Coonamble farmer Simon Fagan the North West was at "a precipice for the future of our region".

"If the Narrabri Gas Project is approved and Santos proceeds, it is most likely that further gasfields will follow," Mr Fagan said.

"Our concern regarding this large scale coal seam gas industrialisation is not only based on knowledge of how the industry continually expands, from Queensland and around the world, it is based on actual maps for this region, from Santos itself."

Mr Fagan said Santos had several gasfields mapped including ones at Maules Creek, Murrurundi and Taroom near Moree.

Santos ruled out "drilling wells or conducting any other activities" on the Liverpool Plains.

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The three PELs Comet Ridge is investigating - PELs 6, 427 and 428 - expired between three and eight years ago, however due to a loophole the zombie licences are technical still active.

The NSW Nationals recently passed a motion to close this loophole at the party's state conference.

NSW Deputy Premier John Barilaro recently lashed out at the company, accusing it of trying to pressure the government in to approving its Narrabri project without due process