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NEWS BULLETIN

April 15, 2008 --- Vol. 14, No. 41April 2008

State looking for comments on two exploration license proposals

The state released information on April 14 about two groups asking for licenses to explore different underdeveloped basins in Alaska.

The first is a request from LAPP Resources Inc. for a natural gas exploration license covering around 21,080 acres near Houston and Willow, north and east of the Parks Highway.

LAPP Resources is an Anchorage exploration company owned by President David Lappi, a longtime advocate for coalbed methane and shallow gas development, and a state leaseholder.

LAPP Resources is requesting a 10-year license and proposing a work commitment of $500,000.

The second request is from BGI North America LLC for an oil and gas exploration license covering around 72,443 acres in the Crooked Creek-Circle Basin, east of the community of Central and south of the community of Circle.

BGI is an Oakland, Calif., company with previous experience in other states and a current Alaska business license, but no existing land holdings in the state.

The company is also requesting a 10-year license and proposing a work commitment of $500,000.

The state Division of Oil and Gas received both proposals last April, and requested competing proposals this past December. Having received none, the proposals both go out for public comment, which the state will accept through June 13.

Editorís note: see story in April 20 issue of Petroleum News, available online to subscribers at noon, Friday, April 18, at www.petroleumnews.com.

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