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NEWS BULLETIN

June 14, 2005 --- Vol. 11, No. 55June 2005

Bristol Shores applies for another exploration license

Bristol Shores LLC, a company owned by a group of Native elders from the Bristol Bay region, has applied again for an oil and gas exploration license in the Dillingham area. The company was granted a license last year but the license lapsed because Bristol Shores did not bond the exploration commitment within the required time period, Pat Galvin, petroleum land manager for the state of Alaskaís Division of Oil and Gas, told Petroleum News June 14.

The new application is for a much reduced land area of 20,153.65 acres on the east side of Nushagak Bay, south of Dillingham. Last yearís license covered about 329,000 acres, Bristol Shores president George Shade told Petroleum News.

Shade said Bristol Shores has investor funding for the new license but that his company is in dispute with the state regarding proof of funding. Galvin said the division requires proof of funding ability from Bristol Shores before the division will go back through the best interest findings process for the license.

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