Call for nominations in Arctic Islands - November 28, 2004

Providing coverage of Alaska and northern Canada's oil and gas industryNovember 2004

Vol. 9, No. 48

Week of November 28, 2004

Call for nominations in Arctic Islands

Petroleum News

The Canadian Minister of Indian Affairs and Northern Development has issued a call for oil and gas nominations for Crown reserve lands north of 60 degrees in the Arctic Islands of Nunavut. The ministry said January is the tentative date for calls for bids as a result of this call for nominations.

Nominations will be accepted through Dec. 23. Details are available online at:

http://www.ainc-inac.gc.ca/oil/act/Cal/nvt2005/nom/index_e.html

The ministry said individuals or companies nominating parcels are expected to submit a bid in response to the call for bids. “The Minister reserves the right to refuse future postings requests by that individual or company if a bid is not submitted.”

In a bid round, selection of the successful bid will be based on the total amount of money the bidder proposes to spend doing exploratory work on each parcel. The minimum work bid for each parcel is C$1 million.

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