Government says interest continues in all regions of province’s offshore
The Telegram
The provincial government says the latest land sale for exploration rights in the Newfoundland and Labrador offshore has drawn a lot of interest.
According to a news release, existing players are strengthening their respective land holdings by acquiring land parcels adjacent to proven reserves and highly prospective prospects, including the western Newfoundland and Labrador offshore region.
The results of the 2009 Call for Bids were announced Friday by the Canada-Newfoundland and Labrador Offshore Petroleum Board. Bids totalling over $47 million were received for four parcels of land — two in the Laurentian Basin, one in the Jeanne D’Arc Basin, and one in the Anticosti Basin in the western region.
“Successful competitive bids were received for all parcels in three different offshore regions, demonstrating the industry’s confidence in these areas to continue with exploration programs,” Natural Resources Minister Kathy Dunderdale said.
“This mix bodes well for our future as we build on our past successes and current knowledge of these areas.”
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