Pelican Hill takes west Cook Inlet leases

Pelican Hill Oil & Gas Inc. won oil and gas leases on the tracts offered in July by the Alaska Mental Health Trust Land Office on the west side of Cook Inlet.

The tracts, approximately 11,297 acres, are in township 13 north, range 11 west, Seward Meridian, in the area north of Tyonek. Both tracts have been offered in the past.

The Trust Land Office said the two tracts would be leased separately to one bidder based on submission of the first year’s rental for both tracts ($11,298) and a plan describing specific work commitments, including levels and timing of proposed exploration and development expenditures that cover both tracts. If awarded, the agency said, “the lease will be awarded to the party whose exploration and development plan will best serve the interest of the Trust.”

Mike Franger, senior resource manager, told PNA July 31 that Pelican Hill Oil & Gas was the winner. No information on the company’s work commitment was immediately available.

Pelican Hill holds other Alaska Mental Health Trust Land Office leases in the area.