The Canada-Newfoundland and Labrador Offshore Petroleum Board
(C-NLOPB) announced today the results of the 2010 Call for Bids
NL10-02 (Flemish Pass/Central Ridge ) for exploration rights in the Newfoundland and Labrador Offshore Area and Call for Bids NL10-03 (Flemish Pass/Central Ridge ) which offers one significant discovery licence.
Call for Bids NL10-02 (Flemish Pass/Central Ridge)
The following bids, based upon the work commitments bid, have been accepted:
Parcel 1 (201,951 ha)
Statoil Canada Ltd. (75%)
Repsol E & P Canada Ltd. (25%)
$75,147,000
Parcel 2 (125,421 ha)
Statoil Canada Ltd. (65%)
Husky Oil Operations Limited. (35%)
$20,047,000
Total: $95,194,000
Subject to the bidders satisfying the requirements specified in Call for Bids NL10-02 and upon receiving Ministerial approval, the Board will issue an exploration licence for both parcels in January 2011. The licences will be for a term of nine years, with an initial period of six years.
Call for Bids NL10-03 (Flemish Pass/Central Ridge)
The following cash bid has been accepted:
Parcel 1 (3773 ha)
Statoil Canada Ltd. (65%)
Husky Oil Operations Limited. (35%)
$1,237,000
Subject to the bidders satisfying the requirements specified in Call for Bids NL10-03 and upon receiving Ministerial approval, the Board will issue a significant discovery licence (with the incremental rental regime) for the parcel in January 2011.
MEDIA CONTACT:
Sean Kelly M.A., APR, FCPRS
Manager, Public Relations
(709) 778-1418
(709) 689-0713 (cell)
skelly@cnlopb.nl.ca