News Releases 2005

2005 Call For Bids

For Immediate Release
March 16, 2005

The Canada-Newfoundland and Labrador Offshore Petroleum Board today announces details of the 2005 Call for Bids in the Newfoundland and Labrador Offshore Area. The Call will consist of seven parcels (refer to attached plat), three located in the Jeanne d’Arc Basin (Parcels 1 to 3), and four in the Western Newfoundland & 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 website 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 5 years (Period I). The minimum bid for all parcels is $1 million dollars 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 9 years; however, during Period I, a well must be spudded to validate the licence for the full 9-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 & Labrador Offshore Region.

For a complete copy of the text of this Call for Bids visit the C-NOPB website at: www.cnopb.nfnet.com.

Source:
Susan Gover
Legal Counsel
(709) 778-1408

Media Inquiries:
Simone Keough APR
Manager, Communications
(709) 778-1418


News Releases 2005

DateUpdate
2005, Dec 22005 LAND SALE RESULTS
2005, Nov 18Public comment period extended for Orphan Basin environmental assessment review
2005, Oct 27Comments sought on the draft Comprehensive Study Report for a proposed exploratory drilling program in the Orphan Basin
2005, Sep 2Draft SEA for Offshore Western Newfoundland & Labrador
2005, Jun 21Jack-ups Rigs now permitted on the Grand Banks
2005, Jun 21Background for Jack-Up Rig Policy Announcement
2005, Apr 7Precautionary Plans for Offshore Demobilization
2005, Apr 4SBM spill at GSF Grand Banks
2005, Mar 162005 Call For Bids
2005, Jan 28Board renews Terra Nova POA for Three-year Term