NLIS 2
(Natural Resources)
March 16, 2005
The following is being distributed
at the request of the Canada-Newfoundland and Labrador Offshore
Petroleum Board:
2005 Call for Bids
The Canada-Newfoundland and Labrador
Offshore Petroleum Board (C-NLOPB) today announces details of the
2005 Call for Bids in the Newfoundland and Labrador Offshore Area.
The call will consist of seven parcels (visit
the C-NLOPB to see land plats), three located in the Jeanne
d�Arc Basin (Parcels 1 to 3), and four in the Western Newfoundland
and Labrador Offshore Region (Parcels 4 to 7). These parcels
comprise a total of 571,984 hectares.
The board will conduct a strategic environmental assessment (SEA) of
the Western Newfoundland and Labrador Offshore Region containing the
four parcels offered in the call. The board�s advisory agencies in
government, fisheries interests, and public stakeholders will be
consulted during this process. A draft of the SEA report will be
published on the board�s Web site for public comment when it is
available. The board will consider any recommendations made in the
SEA report and, where necessary, may amend the call to ensure
concerns are addressed.
Interested parties will have until 4:00 p.m. on December 1, 2005 to
submit sealed bids.
The sole criterion for selecting winning bids will be the total
amount of money the bidder commits to spend on exploration of the
respective parcel during the first five years (Period I). The
minimum bid for all parcels is $1 million for parcels in the Jeanne
d�Arc Basin and $250,000 in the Western Newfoundland and Labrador
Offshore Region.
Subject to ministerial approval, successful bidders will be issued
an exploration licence for a term of nine years; during Period I, a
well must be spudded to validate the licence for the full nine-year
term. Period I may be extended to six years by posting an additional
deposit of one million dollars as security for drilling a well in
the Jeanne d�Arc Basin and $250,000 as security for drilling a well
in the Western Newfoundland and Labrador Offshore Region.
For a
complete copy of the text of this Call for Bids, visit the C-NLOPB
Web site at
//www.cnopb.nfnet.com/.
Source: Susan Gover, Legal Counsel, (709) 778-1408
Media contact: Simone Keough,Manager, Communications, (709) 778-1418
2005 03 16
10:00 a.m.
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