By OGJ editors
HOUSTON, Apr. 20 -- The Canada-Newfoundland and Labrador Offshore Petroleum Board issued a call for bids on two exploration parcels in the Jeanne d’Arc basin in the Atlantic east of Newfoundland.
The CNLOPB seeks bids by Nov. 17, 2010, for two parcels that total 169,400 ha. One parcel cover 139,617 ha in the northern part of the basin, and the other covers 29,783 ha on the east side.
The sole criterion for selecting winning bids will be the total amount of money the bidder commits to spend on exploration in the first 5 years of a 9-year license. Minimum bid is $1 million, and a well must be spudded in the first 5 years of the license.
Source: Red Sky Energy
Federal Reserve Bank of Dallas
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