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$1.2-BILLION FISCAL YEAR ALMOST TWICE PREVIOUS
RECORD |
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VICTORIA – The March 26, 2008
sale of oil and gas rights brings B.C.’s total
for the 2007-2008 fiscal year to a record high of more than $1.2 billion. The
$152 million generated in bonus bids yesterday tops off a fiscal year that
outstrips all previous records, Energy, Mines and Petroleum Resources Minister
Richard Neufeld announced today.
“These exceptional land rights sales show
British Columbia is a top jurisdiction for oil and gas investment,” said
Neufeld. “Our success is the result of first-rate resource potential and strong
support for continued industry growth. We have increased our natural gas
reserves, expanded infrastructure and attracted new interest to B.C. that will
benefit the entire province for decades to come.”
The $1.2-billion fiscal year total of oil and
gas rights for 2007-2008 nearly doubles the previous record of $625.7 million
set in 2003-2004 and sets a historic-high fiscal average price per hectare of
$1,863 that shatters the previous record of $984 in 2006-2007.
Eighty-one parcels covering 89,752 hectares were offered
in the March 26, 2008 sale, and bids were accepted on 81 parcels for an average
price of $1,694 per hectare.
The key parcels in the sale were
three drilling licences located in the Horn River Basin area about
45 kilometres north of Fort
Nelson. The three bids generated totals of $22.9 million, $15.8 million and over $12.4 million.
The next sale is scheduled for
April 23, 2008 and will offer 41 parcels covering 26,939 hectares.
Complete results of the sale and additional
statistics are posted on the Ministry of Energy,
Mines and Petroleum Resources website: www.em.gov.bc.ca/Subwebs/Landsale/results/default.htm
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contact: |
Public Affairs Officer Ministry of Energy, Mines and Petroleum Resources 250 952-0628 250 213-6934 (cell) |
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For more information on government services or to subscribe to the Province’s news feeds using RSS, visit the Province’s website at www.gov.bc.ca. |
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