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NEWS BULLETIN

April 30, 2002 --- Vol. 8, No. 48April 2002

Mackenzie gas pipeline group to open regional offices in Northwest Territories, says ExxonMobil-controlled Imperial Oil

Imperial Oil Resources said today it will open regional offices for the Mackenzie Gas Project in the communities of Inuvik, Norman Wells and Fort Simpson this summer. Imperial, which is 69 percent owned by Exxon Mobil Corp., made the announcement for the Mackenzie Delta Producers Group and the Mackenzie Valley Aboriginal Pipeline Corp.

“The establishment of regional offices is an important step towards strengthening the relationships we have with the people of the North, and building new ones,” Joanne Nutter, communications and consultation manager for the gas project, said in a written statement.

“As the Mackenzie Gas Project continues to move forward, it is vital that we have a greater presence in the North, a place where people can obtain information and provide input on everything from our project plans and progress to employment and business opportunities. Will Northerners be considered for positions in these offices -- of course, they will.”

The Mackenzie Valley Aboriginal Pipeline Corp. and the Mackenzie Delta Producers Group, which includes Imperial, Conoco Canada Ltd., Shell Canada Ltd. and ExxonMobil Canada, announced in February it was embarking on the C$250 million project definition phase as a possible build-up to filing regulatory applications to bring their combined 5.8 trillion cubic feet of reserves into production as early as 2008.

Initial volumes from the group would be 800 million and 1 billion cubic feet per day, with the prospect of the Mackenzie Valley Aboriginal Pipeline Corp. taking a one-third Native equity stake in a pipeline if it can secure another 500 million cubic feet per day in supplies from producers outside the Delta group.

BLM releases 2002 NPR-A sale details

The Bureau of Land Management has released details for its June 3, 2002, National Petroleum Reserve-Alaska lease sale.

Approximately 3 million acres in the northeast corner of NPR-A are being offered, including 298 tracts which did not receive bids in the May 1999 sale and one new tract.

All leases will have a primary term of 10 years.

Area A, the high potential area, is offered in one-quarter township tracts, approximately 5,760 acres, with a minimum bid of $25 an acre or fraction thereof, a fixed royalty rate of 16.67 percent and a rental rate of $5 an acre or fraction thereof.

Area B, the low potential area, is offered in one-half township tracts, approximately 11,520 acres, with a minimum bid of $5 an acre, a fixed royalty rate of 12.5 percent and a rental rate of $3 per acre.

The bid submission deadline is 3:45 p.m., May 31.

Bids will be opened June 3 at 9 a.m. at the Wilda Marston Theater in the Loussac Public Library in Anchorage.

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