Eight parcels in central Mackenzie Valley out for bid - April 28, 2000

Providing coverage of Alaska and northern Canada's oil and gas industryApril 2000

Vol. 5, No. 4

Week of April 28, 2000

Eight parcels in central Mackenzie Valley out for bid

Petroleum News Alaska Staff

The Minister of Indian Affairs and Northern Development has invited bids on eight parcels in the central Mackenzie Valley; bids close July 31.

Winning bidders will receive an eight-year exploration license of two consecutive four-year terms. The sole criterion for selecting a winning bid, the Northern Oil and Gas Directorate said March 31, “will be the total amount of money that the bidder proposes to spend on exploration on each parcel within Period 1 of the term…” The directorate said that bids of less than C$1 million on each parcel would not be considered.

The drilling of one well prior to the end of Period 1, the directorate said, “is a condition precedent to obtaining tenure to Period 2.”

The eight parcels range in size from 135,250 hectares to 59,029 hectares.

Information is available at: www.inac.gc.ca/oil/activities/calls/ or by calling (819) 997-0870.

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