NLIS 6
December 17, 2002
(Mines and Energy)
 

The following statement was issued today by Lloyd Matthews, Minister of Mines and Energy. It was also read in the House of Assembly:

Onshore Request for Bids 2002

I rise in the house today to update honourable members on the results of this year’s Onshore Request for Bids for the issuance of petroleum exploration permits in the onshore area of Newfoundland and Labrador.

The Department of Mines and Energy announced this Request for Bids for 13 parcels of land on September 27, with the closing date set for December 13. All bids were to be submitted in the form of work commitments and expressed in terms of the total dollar amount to be expended on a parcel of land for the five year primary term of the exploration permit.

I am pleased to announce today that this year’s Request for Bids has been successful. Eight parcels of land covering an area in excess of 202,000 hectares were conditionally selected. These bids amount to just over $3.3 million in work commitments over the next five years. Successful bidders are now required to submit a security deposit for 20 per cent of their work commitment within 21 days. Upon receipt of the security deposit, exploration permits will be issued.

After reviewing the successful bidders, it is very encouraging to see some familiar names and some new participants.  It is a healthy mix of established players in our onshore industry and relative newcomers who have an obvious interest in our onshore petroleum sector.

I would now like to congratulate each of the successful bidders. Parcels #3, 5 and 13 were awarded to Contact Exploration Incorporated. Parcel #4 was awarded to the joint venture involving Deer Lake Oil and Gas Incorporated, East Resources Incorporated, Ammonite Corporation, and 554568 Alberta Limited. Parcels #7 and 9 were awarded to Deer Lake Oil and Gas Incorporated.  And, parcels #11 and 12 were awarded to Vulcan Minerals Incorporated. I wish to thank all parties for their interest and efforts during this process.

This is the first Onshore Request for Bids since 1996. I am very pleased to see continued growth in this industry and I look forward to issuing exploration permits in the new year.

2002 12 17 1:55 p.m.

Onshore Exploration Permits/Leases (pdf)

Successful Bidders - Onshore Request for Bids 2002

Parcel # 3 $156,000.00
Contact Exploration Inc.
        
Parcel #4 $359,135.00
Deer Lake Oil and Gas Inc. 17.390%
East Resources Inc. 72.470%
Ammonite Corp. 5.070%
554568 Alberta Ltd. 5.070%
          
Parcel #5 $1,110,000.00
Contact Exploration Inc.
            
Parcel #7 $302,000.00
Deer Lake Oil and Gas Inc. 
Parcel #9  $102,000.00
Deer Lake Oil and Gas Inc.
        
Parcel #11 $1,010,100.00
Vulcan Minerals Inc.
         
Parcel #12 $155,105.00
Vulcan Minerals Inc.
          
Parcel #13 $136,000.00
Contact Exploration Inc.
            

Total

3,330,340.00

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