BEPCo. awarded two offshore Canada exploration licenses

The Canada - Nova Scotia Offshore Petroleum Board has awarded BEPCo. Canada two offshore exploration licenses following the Call for Bids NS08-2.

Offshore staff

HALIFAX, Canada -- The Canada - Nova Scotia Offshore Petroleum Board has awarded BEPCo. Canada two offshore exploration licenses following the Call for Bids NS08-2.

The company offered a work expenditure bid totaling $12.6 million for Parcel 1 and 2. This represents the amount of money the company will spend exploring the land parcels during the initial six years of the nine-year license.

Both parcels are located approximately 160 km (99 mi) southwest of Sable Island in water depths ranging from 1,000 to 3,600 m (3,281 to 11,811 ft).

07/06/2009

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