News Releases 2014

C-NLOPB Announces 2014 Call for Bids (Jeanne d’Arc Region)

For Immediate Release
June 11, 2014

The Canada-Newfoundland and Labrador Offshore Petroleum Board
(C-NLOPB) is today announcing details of a Call for Bids in the Canada-Newfoundland and Labrador Offshore Area. Call for Bids NL14-01 (Jeanne d’Arc Region), will consist of one parcel equaling 108,938 hectares.

Prospective bidders are advised that work is ongoing to complete the Eastern Newfoundland Strategic Environmental Assessment (SEA) and this Call for Bids will not close until a minimum of 120 days after completion of the SEA. The Board will consider any recommendations made in the SEA Report and, where necessary, may amend the Call for Bids. Any mitigative measures identified in the SEA report will have to be addressed prior to the commencement of exploration work to be conducted on this parcel.

Subject to Ministerial approval, successful bidders will be issued an exploration licence for a term of nine years. 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 six years (Period I). The minimum bid for this parcel offered is $10,000,000.

This Call for Bids contains a sample exploration licence and the applicable terms and conditions including allowable expenditures, drilling deposits and the sample form of any resulting significant discovery licence. It also contains provisions for rentals during the term of an exploration licence and during the term of any resulting significant discovery licence.

Notification of any changes made to this Call for Bids will be posted on the C-NLOPB’s website.

Media Contact:
Sean Kelly M.A., APR, FCPRS
Manager of Public Relations
(709) 778-1418
(709) 689-0713 (cell)

News Releases 2014

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