The Canada-Newfoundland and Labrador Offshore Petroleum Board today announced the results of the 2007 Call for Bids NL 07-1 for exploration rights in the Western Region of the Newfoundland and Labrador Offshore Area (see attached land plat). Bidding closed at 4:00 p.m., November 30, 2007.
The C-NLOPB accepted a bid from Corridor Resources Inc. in the amount of $1,521,000 for the parcel which is composed of 51,780 ha.
The Bid represents the expenditure which the bidder commits to make in exploring the parcel during the initial 5-year period of a 9-year term exploration licence.
Subject to Ministerial approval and the bidder satisfying the requirements specified in the Call for Bids, the Board will issue an Exploration Licence for NL07-1 in January 2008.
For further information, please contact:
Jacqueline Glynn
Legal Counsel
(709) 778-1408
Media Contact:
Sean Kelly APR
Manager, Public Relations
(709) 778-1418
skelly@cnlopb.nl.ca