Minister announces 2002 onshore call for postings

Mines and Energy Minister Lloyd Matthews today issued the 2002 onshore call for postings for onshore land parcels in Newfoundland and Labrador. All interested parties are now invited to formally indicate land parcels in the onshore area that they would like to see made available in a competitive request for bids.

This call for postings will seek expressions of interest from industry on particular onshore land parcels. Pursuant to the province�s petroleum regulations, once a successful call for postings has been concluded, a competitive request for bids may be announced for the issuance of exploration permits. These permits will confer the exclusive right to drill and test for petroleum in the permit area to the successful bidder.

"This will be the fourth such call for postings made under the petroleum regulations," said Minister Matthews. "Previous calls in 1992, 1993 and 1996 resulted in three request for bids with the issuance of 36 exploration permits. The issuance of these permits and the resulting exploration activity was a significant step towards evaluating the petroleum potential of our onshore area. Government is hopeful that this year�s call will also be successful."

Minister Matthews said that he is optimistic that sufficient interest could be expressed to justify a request for bids leading to additional exploration activity.

Since 1989, over $31 million has been spent on onshore exploration in western Newfoundland. This year�s call for postings will close on June 7, 2002.

Copies of the call for postings document are available on the Government of Newfoundland and Labrador Web site at www.gov.nl.ca/mines&en/onshore/postings2002.htm. Printed copies are also be available from the Department of Mines and Energy.

Media contact: Darrell Mercer, Communications, (709) 729-5777.

2002 04 23                            2:10 p.m.