For Immediate Release
November 16, 2011
The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) announced today the results of the 2011 Calls for Bids NL11-01 (Area “B”-Western Newfoundland and Labrador Offshore Region) and NL11-02 (Area “C”-Flemish Pass/North Central Ridge) for exploration rights in the Newfoundland and Labrador Offshore Area. There were no bids for the four parcels offered in Call for Bids NL11-03 (Area “C”-Labrador Offshore Region).
Call for Bids NL11-01 (Western Newfoundland and Labrador Offshore Region)
The following bids, based upon the work commitments bid, have been accepted:Parcel 1 (218, 468 ha)
Ptarmigan Energy Inc. (100%)
$501,000.00
Parcel 2 (135, 520 ha)
Ptarmigan Energy Inc. (100%)
$1,501,000.00
Call for Bids NL11-02 (Flemish Pass/North Central Ridge)
The following bids, based upon the work commitments bid, have been accepted:
Parcel 1 (247, 016 ha)
Statoil Canada Ltd. (50%)
Chevron Canada Limited (40%)
Repsol E & P Canada Ltd. (10%)
$202,171,394.00
Parcel 2 (186, 780 ha)
Statoil Canada Ltd. (50%)
Chevron Canada Limited (40%)
Repsol E & P Canada Ltd. (10%)
$145,603,270.00
Subject to the bidders satisfying the requirements specified in Call for Bids NL11-01 and NL11-02 and upon receiving Ministerial approval, the Board will issue exploration licences for all four parcels in January 2012.
Media Contact:
Sean Kelly M.A.,APR, FCPRS
Manager of Public Relations
(709) 778-1418
(709) 689-0713 (cell)
skelly@cnlopb.nl.ca