Panboola is a 77 hectare area of floodplain managed by the Pambula Wetlands and Heritage Project Inc. in conjunction with the Pambula Wetlands and Heritage Reserve Trust.

It is situated adjacent to the township of Pambula on the Far South Coast of NSW, Australia.

The long history of the Pambula Floodplain is well documented in records held by the Merimbula-Imlay Historical Society. Since 1997 changes in ownership and usage of this land has lead to the creation of Panboola.

Panboola is being rehabilitated with community assistance as a wetland for the purposes of nature conservation, protection and restoration of habitat for birds and other indigenous flora and fauna, and for community education and passive enjoyment.

Fresh water billabongs lead to saline areas within and around the former racecourse, then through saltmarsh and mangroves to the tidal Pambula River beyond. Ben Boyd National Park and SEPP 14 wetlands adjoin the south western boundaries.

A system of walking tracks is being developed leading visitors to destinations such as saltmarsh, historic points, information panels and birdwatching areas.

An area of farmland is managed in an environmentally sensitive way to provide for recurring costs.

• In 1997 local resident and benefactor, Alexandra Seddon, purchased 6 hectares in Bullara St for conservation and the  birds and named it the Waterbird Sanctuary. Pambula Area Progress and Planning Association (PAPPA) managed this site for several years.
• In 1997 the Imlay Racing Club, established on the floodplain more than 100 years ago, relocated to Kalaru leaving the Crown Land Pambula Racecourse Reserve vacant.  
• In 2001 Alexandra Seddon purchased an adjoining 42 hectares of prime river flats, also for conservation and the Pambula Wetlands and Heritage Project Inc (PWHP) committee was formed in May 2001 to manage this site and the Waterbird Sanctuary.
• In 2002 the 29 hectare Recreation Reserve was re-gazetted as the Pambula Wetlands and Heritage Reserve (PWHR), locally referred to as the Old Pambula Racecourse.
• In September 2003 a Trust Board was appointed by the Dept of Lands to manage the Reserve. Some of the Trustees are also members of the PWHP and both committees work in tandem presenting the two sites as Panboola (meaning 'two waters' or 'meeting of the waters'), in recognition of the Aboriginal presence on this land for many thousands of years prior to the arrival of white settlers in 1835.
• In 2003 Alexandra gifted her land to Pambula Wetlands and Heritage Project Inc. which now holds the Certificates of Title. Voluntary Conservation Agreements have been signed over portions of the land ensuring their conservation status for ever.
• In 2003 the Pambula Wetlands and Heritage Project Inc. was granted Environmental Organisation status and a Public Fund, the Panboola Fund, was established. Donations to this fund are tax deductible.
• A Panboola Trust supervises the use and development of Panboola to ensure the land is maintained for the purposes for which it was purchased.
• A Plan of Management has been prepared addressing both areas, to be managed within the Panboola Trust guidelines. As one  large conservation, restoration, educational and passive recreational and tourism project, it embraces the history and diversity of the wetlands within the floodplain.