News Releases 2014

Notice to Potential Bidders Call for Bids NL13-03 (Area “B” – Western Newfoundland and Labrador Offshore Region)

For Immediate Release
May 15, 2014

RE: CLOSING DATE AND CHANGES TO TERMS AND CONDITIONS

The Board has now concluded the Western Newfoundland and Labrador Offshore Area Strategic Environmental Assessment (SEA) Update containing the four parcels offered in Call for Bids NL13-03 (Area “B” – Western Newfoundland and Labrador Offshore Region).

When the Call for Bids was announced on May 16, 2013, the Board stated that the closing date would be 120 days after the completion of the relevant SEA reports. Governments recently approved a Fundamental Decision which allows for the closing date to be “no earlier than 120 days after the completion of the relevant SEA report”. This administrative change allows additional time for geoscientific assessment and aligns with the traditional annual date for licence issuance on January 15, 2015.

The Board has decided that the closing date for Call for Bids NL13-03 will be November 12, 2014 at 4:00 p.m. NST.

In accordance with the provisions of the Accord Acts for amending terms and conditions of exploration licences, the Board has also amended the terms and conditions of the sample Exploration Licence found in Schedule IV of Call for Bids NL13-03 to be consistent with those announced on December 19, 2013 in the new Scheduled Land Tenure Regime:

  • Period I shall be for a term of six years.
  • The minimum bid will be increased to $10 million.
  • Allowable expenditures may be claimed for those permitted expenses incurred from the date of the initial announcement of the call for nominations up to and including the effective date of the licence. These new credits would be in addition to those allowable expenditures available for credit during the term of the licence.
  • The Interest Owner may, at its option, extend Period I for additional years to a maximum total of three (3) extensions by posting a drilling deposit with the Board before the end of Period I or any additional year extension of Period I in the following amounts:
  • Period I A – 1 year extension – $5 million
    Period I B – 1 year extension – $10 million
    Period I C – 1 year extension – $15 million

    If a drilling deposit is posted, it will be refunded in full if the well commitment is met during the respective period of extension. Otherwise, the drilling deposit will be forfeited upon termination of that period extension.

Any petroleum-based activity proposed for the Newfoundland and Labrador Offshore Area will be the subject of a project-specific environmental assessment, which would form part of the basis for a
C-NLOPB authorization and set out any mitigations or restrictions to be applied before a proposed activity can proceed. Safety and environmental protection are paramount considerations in all
C-NLOPB authorizations.

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


News Releases 2014

DateUpdate
2014, Dec 16C-NLOPB Announces Update of Reserve Estimate for the Hibernia Field
2014, Dec 12C-NLOPB Releases Results for Calls for Bids NL13-01, NL13-02 and NL14-01
2014, Nov 14C-NLOPB announces results of Call for Bids NL13-03
2014, Nov 13Offshore safety conference draws international experts to Newfoundland and Labrador
2014, Sep 30C-NLOPB Statement on the Dedication of the Offshore Helicopter Accident Memorial
2014, Sep 29White Rose Extension Project Public Review Report Released
2014, Aug 21C-NLOPB issues Calls for Nominations for Offshore Lands
2014, Aug 5Eastern Newfoundland Strategic Environmental Assessment now available
2014, Aug 5NOTICE TO POTENTIAL BIDDERS CALL FOR BIDS NL13-01 (Area “C” – Flemish Pass) CALL FOR BIDS NL13-02 (Area “C” – Carson Basin) CALL FOR BIDS NL14-01 (Jeanne d’Arc Region)
2014, Jun 12Harris Centre to Conduct Public Review of White Rose Extension Development Plan Amendment
2014, Jun 11C-NLOPB Announces 2014 Call for Bids (Jeanne d’Arc Region)
2014, May 22Notice to Potential Bidders re: Eastern Newfoundland Region Sector Identification
2014, May 22Notice to Potential Bidders re: Labrador South Region Sector Identification
2014, May 20NOTICE TO POTENTIAL BIDDERS CALL FOR BIDS NL13-01 (Area “C” – Flemish Pass) AND CALL FOR BIDS NL13-02 (Area “C” – Carson Basin)
2014, May 15Notice to Potential Bidders Call for Bids NL13-03 (Area “B” – Western Newfoundland and Labrador Offshore Region)
2014, May 7L’OCTNLHE diffuse la Mise à jour de l’évaluation environnementale stratégique de la zone extracôtière de l’Ouest de Terre-Neuve et du Labrador
2014, May 5C-NLOPB Delivers Western Newfoundland and Labrador Offshore Area Strategic Environmental Assessment Update
2014, Mar 11As the C-NLOPB remembers those lost, work continues to improve offshore helicopter passenger safety
2014, Mar 10Notice to Potential Nominators – Areas of Interest
2014, Mar 5C-NLOPB Invites Comments on Draft Eastern Newfoundland Strategic Environmental Assessment Report