Offshore staff

(Canada) - The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) announced the 2006 land sale in the Newfoundland and Labrador offshore area with three Calls for Bids comprising a total of 1,712,758 hectares.

Call for Bids NL06-1 in the Jeanne d'Arc basin consists of three parcels; Call for Bids NL06-2 in the Sydney basin consists of three parcels; while Call for Bids NL06-3 offshore Western Newfoundland and Labrador consists of five parcels.

Interested parties have until Nov 15, 2006 to submit sealed bids for Call for Bids NL06-1 and NL06-3, and until Nov. 30, 2006 for Call for Bids NL-6-2.

The board also says it will conduct a strategic environmental assessment of the Sydney basin, located off the south-west coast of the province.

The sole criterion for selecting winning bids is the total amount of money the bidder commits to spend on exploration of the respective parcel during the first five years.

A minimum bid of $1 million is required for parcels in the Jeanne d'Arc basin and Sydney basin, and $250,000 for parcels in the Western Newfoundland and Labrador offshore region.

03/27/06