The April 2012 petroleum and natural gas sale resulted in $414,000 in bonus bids, bringing the calendar year total to $81.1 million.

The April 25 sale offered five parcels in northeast B.C. covering 3,200 hectares. Four parcels covering 1,056 hectares were sold. The average price was approximately $392 per hectare.

All four parcels were drilling licences located west of the Brassey area, approximately 25 kilometres east of Chetwynd.

Drilling licences provide the exclusive right to explore for petroleum and natural gas by drilling wells. They are acquired by the successful bidder at the Crown sale, and primary terms are three, four or five years, depending on location.

Petroleum and natural gas activities play a vital role in B.C., generating significant wealth and employing thousands of British Columbians. Revenues from rights sales provide immediate economic benefits, funding social programs and infrastructure development in communities throughout the province.

The next sale, scheduled for May 23, 2012, will offer six parcels covering 4,864 hectares.

Complete results of the sale are posted at: http://www.empr.gov.bc.ca/Titles/OGTitles/SaleResults/Pages/default.aspx

Contact:

Sandra Steilo
Ministry of Energy and Mines
250 952-0617