News Releases 2008

2008 CALLS FOR BIDS

For Immediate Release
June 6, 2008

The Canada-Newfoundland and Labrador Offshore Petroleum Board today announces details of the 2008 land sales in the Newfoundland and Labrador Offshore Area. This year, there will be four separate Calls for Bids.

Call for Bids NL08-1 (Central Ridge/Flemish Pass) will consist of three parcels, Call for Bids NL08-2 (Jeanne d’Arc Basin) will consist of two parcels, Call for Bids NL08-03 (Sydney Basin) will consist of three parcels and Call for Bids NL08-04 (Western Newfoundland and Labrador Offshore Region) will consist of two parcels. These parcels comprise a total of 1,727,610 hectares.

Interested parties will have until 4:00 p.m. on November 14, 2008 to submit sealed bids for Call for Bids NL08-01 (Central Ridge/Flemish Pass) and Call for Bids NL08-02 (Jeanne d’Arc Basin). Interested parties will have until 4:00 p.m. on November 28, 2008 to submit sealed bids for Call for Bids NL08-03 (Sydney Basin) and Call for Bids NL08-04 (Western Newfoundland and Labrador Offshore Region). Notification of any changes made to these 2008 Calls for Bids will be posted on the Board’s website.

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 Period I. The minimum bid for each parcel offered in the 2008 Calls for Bids is one million dollars, except for Call for Bids NL08-04 (Western Newfoundland and Labrador Offshore Region) where the minimum bid is two hundred and fifty thousand dollars.

The 2008 Calls for Bids contain provisions for rentals during the term of an exploration licence and during the term of any resulting significant discovery licence. Each Call for Bids contains a sample exploration licence and a sample significant discovery licence.

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 by one year by posting an additional deposit of one million dollars as security for drilling a well on a parcel (drilling deposit for Western Newfoundland is two hundred and fifty thousand dollars.).

For a complete copy of the text of the 2008 Calls for Bids, visit the C-NLOPB website at www.cnlopb.nl.ca.

Media Contact:
Sean Kelly APR
Manager, Public Relations
(709) 778-1418
skelly@cnlopb.nl.ca


News Releases 2008

DateUpdate
2008, Dec 1C-NLOPB Releases Results of 2008 Call for Bids, NL08-3 and NL08-4 Sydney Basin and Western Newfoundland and Labrador Offshore Region
2008, Nov 17C-NLOPB Releases Results of 2008 Call for Bids, NL08-1 and NL08-2 Central Ridge/Flemish Pass and Jeanne d’Arc Basin
2008, Oct 6C-NLOPB Responds To Journal Article
2008, Sep 11C-NLOPB Releases Results of 2007 Land Sale for Labrador Offshore Region (Call for Bids NL07-2)
2008, Aug 28Strategic Environmental Assessment Labrador Shelf Offshore Area Completed
2008, Jul 10C-NLOPB Releases 2007/08 Annual Report
2008, Jun 62008 CALLS FOR BIDS
2008, Apr 2Husky Energy’s North Amethyst Extension Approved by Governments
2008, Apr 2Husky Energy’s North Amethyst Extension Approved by Governments
2008, Mar 25Comments Invited on Draft Strategic Environmental Assessment Report for Labrador Shelf Offshore Area
2008, Feb 26C-NLOPB Responds to Auditor General’s Report
2008, Feb 5White Rose Development Plan Amendment SeaRose FPSO Modifications Withdrawn By Proponent
2008, Jan 17C-NLOPB announces Landmark as successful bidder for Digital Petroleum Data Management System