The latest natural gas and petroleum rights sale resulted in over $9.29 million in bonus bids, bringing the calendar year total to over $127 million. The sale, originally scheduled for June 26, was postponed until July 3 as a result of the flooding emergency in Calgary.

The latest sale offered 18 parcels in northeastern B.C. covering 10,042 hectares. Seventeen parcels were sold with an average price of approximately $950 per hectare.

Key parcels in this sale included:

• Two leases in the Nig Creek North area, about 120 kilometres northwest of Fort St. John. Collectively, these two parcels earned more than $6.67 million.

• One drilling licence in the Inga area, about 85 kilometres northwest of Fort St. John. This parcel earned $776,269 in tender bonus at a price of $2,743 per hectare.

Leases provide the exclusive right to produce natural gas and petroleum. They are acquired by the successful bidder at the Crown sale, or selected from permits and drilling licences. Primary terms are five or 10 years, depending on location.

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

Natural gas and petroleum 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 July 24, 2013, will offer 19 parcels covering 10,509 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 Natural Gas Development
250 952-0617