ARCHIVED - 2004 Central Mackenzie Valley and Beaufort Sea / Mackenzie Delta Call For Bids

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Bulletin
Volume 10, Number 3
February 2004

Bids Invited

The Minister of Indian Affairs and Northern Development is inviting bids for petroleum exploration rights on a total of six (6) parcels of land, five (5) are located in the Central Mackenzie Valley region of the Northwest Territories and one (1) in the Beaufort Sea / Mackenzie Delta. The parcels in the Central Mackenzie Valley cover 321,296 hectares, more or less. The parcel located in the Beaufort Sea / Mackenzie Delta covers 56,057 hectares.

The parcels are formally described in the Call for Bids document using the Frontier Lands Grid System.

The Call for Bids closes at Noon, Mountain Time, on June 07, 2004.

Terms and Conditions

Terms and conditions of the Call for Bids are described in the official call document, the 2004 Central Mackenzie Valley and Beaufort Sea / Mackenzie Delta Call for Bids, available at the Frontier Information Office of the National Energy Board at 444-7th Avenue S.W. in Calgary, Alberta and posted on the Northern Oil and Gas Website.

The bid selection criterion for each parcel remains the total amount of money that the bidder proposes to spend doing exploratory work on the parcel during period 1 of the term of the exploration licence. A deposit of 25% of the bid amount must be submitted with the bid.

The term of an exploration licence issued for parcel in the Central Mackenzie Valley is eight (8) years consisting of two (2) consecutive periods of four (4) years each; the term of an exploration licence issued for parcel in the Beaufort Sea / Mackenzie Delta is nine (9) years consisting of two (2) consecutive periods of five (5) and four (4) years respectively. The drilling of a well during period 1 of the term qualifies the licence holder to retain the licence for period 2, whether or not the total amount of the bid has been spent. Any excess bid deposit will be forfeit. A drilling deposit of $1 million may be submitted before the end of the first period to obtain a one-year period of grace to commence the required well. The deposit is refundable on drilling the well.

Calls for Nominations Close

No nominations were received for the Arctic Islands of Nunavut Call for Nominations which closed on January 30, 2004.

For More Information on Calls for Nominations and/or Bids please contact us:

by phone: (819) 997-0877
or by fax: (819) 953-5828
or via e-mail to the Director:
Fortierm@ainc-inac.gc.ca
or via e-mail to Rights Issuance:
Desjardinsm@ainc-inac.gc.ca

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