An “extremely humbled” Kathleen Folbigg has spoken out for the first time since her release from jail after 20 years behind bars.

Ms Folbigg, 55, who spent her first night of freedom in two decades at the home of her lifelong friend, Tracy Chapman, released a video statement on Tuesday afternoon.

“I’m extremely humbled and extremely grateful for being unconditionally pardoned and released from prison,” she said.

“My eternal gratitude goes to my friends and family, especially Tracy and all of her family and I would’t have survived this whole ideal without them.”

“Today is a victory for science and especially truth.”

Ms Folbigg said her children, Caleb, Patrick, Sarah and Laura were front of mind for every day she was in jail.

“For the last 20 years, I’ve been in prison I have forever and will always think of my children, grieve for my children and I miss them and love them terribly,” she said.

Tuesday’s statement came amid reports the Seven Network had spent as much as $1 million to secure the first post-prison interview with Ms Folbigg.

The Daily Telegraph reported on Tuesday that Seven had done a deal with Ms Folbigg to share a story on its 7News Spotlight. According to the reports, Seven negotiated a deal worth more than $400,000 – as potentially as much as $1 million – to beat rival offers, including one from Nine.

The network is yet to confirm the interview, or when it will air.

Earlier, Ms Chapman said Monday was “pandemonium” after she received just 40 minutes notice that Ms Folbigg was about to arrive at her northern NSW farm gate.

“We both wanted to cry. But we couldn’t cry. I don’t know how to explain it,” Ms Chapman said on Tuesday.

“I’m sure once everything settles down, there will be tears. Both of us feel quite animated at the moment. I don’t know if it makes sense to you all.”

Ms Folbigg received an unconditional pardon and was released from Grafton jail on Monday after an inquiry heard there was reasonable doubt about her guilt following her 2003 conviction over the deaths of her four children.

On Tuesday, Ms Chapman said her friend harboured no hatred about her treatment and was overjoyed by her sudden freedom.

“She actually said to me this morning, ‘my face muscles hurt from smiling so much’,” she said.

“At the moment, we’re just so grateful. Honestly, we’re so grateful.”

Ms Folbigg spent Monday on Ms Chapman’s farm near Coffs Harbour, getting to know the animals, and was just happy to get her first “proper” sleep in 20 years.

“She slept for the first time in a real bed, had a cup of tea in a real crockery cup, real spoons to stir with,” her friend said.

“That sounds basic to you all, but she’s grateful. Decent tea, real milk.”

However, there was no time to cook the dinner of T-bone steak Ms Folbigg had dreamed of for years in jail. Instead, the party of about 12 settled for pizza.

Ms Folbigg did get one special request.

“She asked for a Kahlua and coke. It was a flashback to the last 20 years,” Ms Chapman said, laughing.

A beaming Tracy Chapman and lawyer Rhanee Rego address the media on Tuesday morning. Photo: AAP

On Tuesday, lawyer Rhanee Rego said the next hurdle for Ms Folbigg’s legal team was to get her convictions quashed in the Court of Criminal Appeal, followed by compensation.

“She not only lost one child, she has lost four and been in jail for 20 years,” she said.

“The system has failed her at every step.

“Instead of trying to understand why her children died, potentially through an inquest … we threw her in jail, locked her up and called her Australia’s worst female serial killer.”

Ms Rego said going to the Court of Criminal Appeal could be done via a reference from the inquiry into her case or from NSW Governor Margaret Beazley or, “failing that”, a direct application to the court.

“We urge everyone to give her privacy while she enjoys the first bit of freedom, and also she’ll be honouring the memory of her children as she’s done every day for 24 years,” she said.

Just as Lindy Chamberlain protested her innocence, the former Hunter Valley hospitality worker always denied responsibility for the deaths of her children, Caleb, Patrick, Sarah and Laura. All were younger than two when they died between 1989 and 1999.

There is the prospect Ms Folbigg will join a select few in Australia, including Ms Chamberlain, in being awarded seven-figure sums following wrongful convictions.

Robyn Blewer, director of the Griffith University Innocence Project, pointed to two recent cases to indicate the extent to which Ms Folbigg could be compensated for her 7300 days in jail.

In May, Western Australian man Scott Austic received $1.3 million on top of an earlier payment of $250,000 after serving nearly 13 years for the murder of his pregnant secret lover. He had sought $8.5 million after being acquitted in 2020 on appeal. Both payments were voluntary.

In the other case, David Eastman was awarded $7 million in damages by the ACT Supreme Court in 2019 after his wrongful conviction for the murder of Australian Federal Police assistant commissioner Colin Winchester.

Dr Blewer said the amount Mr Folbigg received might depend on what the government was willing to pay.

“Twenty years is a substantial amount of time lost,” she said.

“It might depend on the good grace of the NSW government.”

Before that can happen, Ms Folbigg’s lawyers will await the final report of former NSW chief justice and inquiry head Tom Bathurst into her convictions.

-with AAP