But minister doesn't think idea is 'dead in the water'
The treasury minister says he's seen no further interest so far for gas exploration in Manx waters following the expiration of Crogga's licence earlier this year.
The company's licence to carry out exploration work expired on 28 February with the organisation and Department of Infrastructure then failing to agree on terms for a renewal.
Last month, government announced it was seeking expressions of interest for a regulatory body to oversee the drilling of an offshore exploration gas well.
Speaking on Manx Radio's Perspective programme, Dr Alex Allinson doesn't think the idea has completely vanished but believes 'the world has changed':
Department brands loss of Greeba tree 'regrettable'
Inmates stage prison protest over time spent in cells
Local clothing retailers rated poorly in new survey
'Unnecessary' delays left electricity customer in limbo