October 11, 1996
(Mines and Energy)
The following is being distributed at the request of the Canada-Newfoundland Offshore Petroleum Board:
1996 LAND SALE RESULTS
The Canada-Newfoundland Offshore Petroleum Board today announced that it has conditionally selected a bid of $55,555 by Imperial Venture Corp. for Parcel No. 8, following the close of the 1996 Call for Bids on September 30. The bid represents the expenditure commitment in exploring Parcel No. 8 during the initial 5-year period of a 9-year term exploration licence. Parcel 8 is located offshore West Coast Newfoundland.
Subject to ministerial approval and satisfaction of the requirements specified in the Call for Bids, the board will issue an Exploration Licence for Parcel No. 8 in January 1997. The licence will be for a term of nine years, with an initial period of five years.
Contact: John G. Fitzgerald, Chairman (Acting), (709) 778-1452, or R. Paul Barnes, Legal and Land, (709) 778-1440.
| 1996 10 11 | 3:30 p.m. |
