The Canada-Newfoundland and Labrador Offshore Petroleum Board
(C-NLOPB) announced today the results of Call for Bids NL13-01 (Area “C” – Flemish Pass), Call for Bids NL13-02 (Area “C” – Carson Basin) and Call for Bids NL14-01 (Jeanne d’Arc Region) for exploration rights in the Canada-Newfoundland and Labrador Offshore Area. The result for Call for Bids NL13-01 ($559,000,000.00) is the largest bid on a parcel in the history of the Canada-Newfoundland and Labrador Offshore Area.

Call for Bids NL13-01 (Flemish Pass)

The following bid, based upon the single work commitment criteria, has been accepted:

Parcel 1 (266 139 ha)

ExxonMobil Canada Ltd. 40%
Suncor Energy Inc. 30%
ConocoPhillips Canada Resources Corp. 30%

Total: $559,000,000.00

Call for Bids NL13-02 (Carson Basin)

The following bid, based upon the single work commitment criteria, has been accepted:

Parcel 2 (288 800 ha)

ExxonMobil Canada Ltd. 50%
Suncor Energy Inc. 50%

Total: $21,000,000.00

Parcel 1 (285 864 ha)

No bids were received.

Parcel 3 (291 310 ha)

No bids were received.

Parcel 4 (272 425 ha)

No bids were received.

Call for Bids NL14-01 (Jeanne d’Arc Region)

The following bid, based upon the single work commitment criteria, has been accepted:

Parcel 1 (108 938 ha)

ExxonMobil Canada Ltd. 100%

Total: $16,700,000.00

Subject to the bidders satisfying the requirements specified in Call for Bids NL13-01, Call for Bids NL13-02 and Call for Bids NL14-01 and upon receiving Ministerial approval, the Board will issue exploration licences for all three parcels in January 2015.

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