The Department of Natural Resources in Fredericton set dates for three sealed bid oil and gas lease auctions in 2004.
The dates are Feb. 10, June 29, and Oct. 26, with tract nominations to close about 90 days prior to each sale.
The department previously processed applications as needed. It leased 37 blocks covering 745,463 ha the past 12 years at 70¢-$313.18(Can.)/ha, said Keith Ashfield, minister of natural resources.
"We welcome exploration and invite industry to explore potential areas of the province for oil and gas resources and we feel there are many favorable areas remaining to be explored," Ashfield said. McCully gas field near Sussex went on production earlier this year, and the Maritimes & Northeast gas pipeline traverses eastern New Brunswick.
