ARCHIVED - Winning Bids - 1996 Central Mackenzie Valley Call for Bids

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Bulletin
Volume 4, Number 3
May 1997

The 1996 Central Mackenzie Valley Call for Bids closed on May 1, 1997 with over $35 million in work bids received for seven of the eleven parcels posted as a result of the Call for Nominations. This is the third year in a row that calls for bids have attracted industry interest in this area.

A total of seven new exploration licences will be issued with an effective date of May 5, 1997. The term of the licences will be eight years divided into two periods of four years.

Four new companies have joined the first group of explorers who received rights in 1994 and 1995: AEC (West), Canadian Abraxas Petroleum Limited, Cascade Oil and Gas, and International Frontier Resources. The other parcels were awarded to companies consolidating existing acquisitions: Grand River Resources,Murphy Oil Company and Ranger Oil Limited.

The results of the Call are as follows:

Parcel 1

(114,737 hectares)
$1,072,000
Grand River Resources Inc. (100%)

Parcel 2

No bids

Parcel 3

(128,575 hectares)
$9,482,688
A.E.C. (West) (100%)

Parcel 4

No bids

Parcel 5

No bids

Parcel 6

No bids

Parcel 7

(30,696 hectares)
$2,831,080
Murphy Oil Company Ltd.(100%)

Parcel 8

(46,738 hectares)
$3,101,015
Canadian Abraxas Petroleum Limited (80%) and
Cascade Oil and Gas (20%)

Parcel 9

(50,938 hectares)
$6,200,000
Ranger Oil Limited (100%)

Parcel 10

(71,816 hectares)
$4,000,000
International Frontier Resources (100%)

Parcel 11

(133,518 hectares)
$8,466,460
A.E.C. (West) (100%)

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