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Oil and Gas Sales Push Total to Over $2.4 Billion

By 250 News

Thursday, February 26, 2009 09:41 AM

VICTORIA - The Feb. 25 oil and gas land rights sale generated $17.6 million in bonus bids, bringing the fiscal year total to over $2.409 billion.

Ninety-eight parcels covering 32,639 hectares in B.C. were offered, and bids were accepted on 89 parcels covering 29,171 hectares for an average price of $603 per hectare.

The key parcels in the sale included:
* Two drilling licences, with bids of approximately $750 and $860 per hectare for a total of over $953,000, located within the Noel gas field approximately 30 km northeast of Tumbler Ridge.
* Six lease bids of between $3,000 and $5,100 per hectare for a total of over $6.5 million located west of the Beg gas field, approximately 115 km north of Hudson's Hope.

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; primary terms of three, four or five years depending on location.

Leases provide the exclusive right to produce petroleum and natural gas; 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.

The final sale for fiscal 2008-2009 is scheduled for March 25, 2009 and will offer 37 parcels covering 14,666 hectares.


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Comments

Yeah, that's what this world of ours needs... more burning of oil and gas.

Just don't whine and blame later when life on Earth goes into an even steeper decline than it is now. Humans are doomed because we're too damn stupid to see beyond our selfishness and greed, both collectively and as single persons.

There is no one to blame but the person looking at you in the mirror.
Kevin,

You are a hypocrite. As you sit in your house heated with natural gas, and drive a vehicle that burns fossil fuel. I can guarantee this, you don't understand how and where your paycheck comes from.

Sure, burn the gas and oil. Make it BC Gas and Oil.
Kevin’s computer is apparently made of grass and powered by love. Kevin, when you look in the mirror all you see is an hypocrite.
I look in the mirror, but am afraid of what I might see...old, fat, wrinkled,
Adonis no more, adios!
metalman.
Kevin.. The 60's just called they want you back!
Of course, when we examine Kevin's comments under the bright lights, we all know he is correct. Burning oil and gas is not a great thing for us or the environment. But, and this is a great big but, the alternatives aren't really here yet.

Wind power? Hah. Solar, bigger hah. And geothermal heating and cooling for your house, I don't know if you guys have priced it yet, but the only people who can really afford to install a proper system, are the old rich ones who walk amongst us. The payback period for alternative energy is one heck (I should use stronger word) of a long time.

I can see some nice vehicles just over the horizon, which will be a lot more environmentally friendly, for little extra cost. I believe we can chastise the big car companies for not developing something quicker than they have, but development burns up a lot of money they don't have (they have to borrow, witness them going hat in hand to governments of the day). So their efforts to date haven't been stellar, but some vehicles with efficient diesel hybrid drive engines are really intriguing to me. Can't wait to see them on the lot, I'll be one of the first buyers.

So I agree with the people who say, if you're going to buy oil and gas, buy the stuff that came out of B.C. - that will keep a lot of money flowing into the pockets of our workers, who like to spend like drunken sailors. And that's good for our economy.

Go Oil!
Wow! The sale of oil and gas rights should almost be enough to pay for the olympics and the Vancouver Convention Centre.
if only Oldun, if only....
Beesknees: "Of course, when we examine Kevin's comments under the bright lights, we all know he is correct."

He most certainly is. Are we all just dumb complaining hypocrites (Goldenbear) because we use natural gas a fuel for the vehicles?

No. Only if viable alternatives were already on the market and we would just stubbornly refuse to use them instead.

There is a raging discussion out there about whether mankind contributes to global warming or not.

Nobody notices the poisonous trace elements (like mercury) and acid rain that are caused by the burning of coal and oil.

In the Appalachian coal mining area whole mountains are stripped of all vegetation, then the gravel and topsoil overburden is pushed downhill with huge bulldozers into the valleys below, destroying wildlife, creeks and rivers.

It is an environmental disaster on a mega scale, irreversible.

Kevin is right.
quit whining kevin
Burning oil converts harmful petroleum into harmless carbon dioxide.
Ladies and Gentlemen;
might I remind you about our no bullying policy?
There is no reason to attack Kevin because of a differing opinion. Please stick to the subject matter.
Elaine Macdonald
I wonder how long I will have to wait for a 1 ton 4X4 Volt pick up truck to pull my big boat to the lake?
Electric powered boat, I forgot to add!
gamblor, put a bag over your head, seal the open portion around your neck with a rubber band, and then get someone to pump a bit of pure carbon dioxide into it.

I'd give you about 30 seconds before you rip that bag off, and gasp for something that isn't carbon dioxide.

Then I challenge you to come back to this forum, and tell us how harmless carbon dioxide is :-) :-)
those big auto makers should have been looking at building more efficient cars long before now - when they had the money, instead of flying around the world in private jets. Cars in Europe have long been more efficient thank north american cars, they are in trouble because of there own greed. I, for one cannot afford to to buy a nice new hybrid - especially not the nice new hybrid cadillac escolade that GM is going to build, hmm I wonder how many cadillacs they will sell here in PG. New vehicles are way over priced, I will stick with my old SUV until it won't go anymore, then I will buy another used vehicle.

As far as home heating goes, what choices do we have? Gas, oil, electric or wood, all have draw backs - remember wood burning may be banned in Prince George!
hey its not kevins fault our fore fathers did not have the insight to change we do we also have the education to realize what we are doing to the environment watch the inconvienient truth or who killed the electric car or flow all great documenyary,s change will not happen overnight it starts with peoples attitudes big buisness is the real culprit here they supress change for profit quit being a pawn and be a part of a solution consumers can make suttle changes and if enough of us do we can at least tell the grandchildren we tried!im not ahippie nor a geek but environmentalist not even sure i fit there im just a redneck who wants his grandchildren to have a little thing we take for granted EARTH
Ah the confusion between pollution and C02 just goes on and on. Co2 is not a pollutant, it is necessary for life. It is what makes the plants grow. beesknees it is not the C02 that killed you but lack of oxygen. The average Co2 level in the atmosphere is 350 ppm. When you breath out, then breath in you generally take in C02 you just breathed out, and that intake can be much higher than 350 ppm. C02 in a crowded room can approach 4000 ppm. The atmosphere in mines and submarines is allowed to be in the 3000 and 4000 ppm, no ill effects.

Some doom and gloomers say if the C02 gets much higher the earth will reach a tipping point where we will have uncontrolled heating. In the past the earth's temperature has been higher and C02 levels as high as 4000 ppm and the biodiversity flourished. So where is the tipping point? Why did C02 levels fall? Why did Temperatures fall. Why do doom and gloomers never debate? Why because doom and gloomers are making a lot of money off this C02 scam. Gore for one makes as much as 200,000 dollars per speech. He has made millions. Universities are taking in buckets of money on grants to study man caused global warming, so they are in no hurry to dispel the man caused global warming myth.

Ten years ago the earths temperature stopped rising and for last few years has shown a global decline. Also remember the normal state of the earth for the last million years has been in an ice age.

Hybrid cars, ask hybrid drivers what their winter mileage is. In winter that gas engine runs more often for heating. All electric car in winter in this climate especially, your range will drop drastically when your heat is on.

There is no quick fix, but do not confuse C02 with pollution. We are actually in a time of lowest C02 levels since there has been flourishing life on earth.

The earths climate is cyclic and evidence is pointing to a thirty year cooling trend. Check the past for facts. Also note how the earth is not co-operating and is cooling instead of warming so the doom and gloomers have gone from saying the term global warming to climate change, hey that is safe because the climate is always changing.
wow seamutt you seem to have it all figured out how much does mr chaney make off halliburton in the middle east? there are some very hard facts on globle warming what if your the doom gloomer? i for one hope to advance as the human race and if your not on board with improving the environment your part of the problem
eiowe read my post again, I am talking about the C02 scam that is diverting billions of dollars away from real environmental concerns. It is going to take 30 to 40 years to get away from an oil and coal dependent society, there are no easy answers. C02 is not a pollutant and is not driving climate. Did you know that one can drive a late model gas car across Canada and that car will deliver in doing so less pollution than one cut with your lawn mower.
beesknees, you might want to learn what you are talking about before you go about posting incendiary rants.

Here's a link that illustrates your foolishness quite nicely:

http://science.howstuffworks.com/question493.htm

Google is your friend. So is science. Thanks for coming out.
gamblor, my friend, you don't really know how to use this new-fangled internet stuff as well as you thought. Your link doesn't describe the effects of breathing 100% CO2.

I'm going to direct you to a link which will help you to understand the effects of exposure to CO2, in varying amounts or concentrations. Once you've read through that, let me know if you still want to perform the test I invited you to try earlier. I already know the answer, no need for you to reply :-)

http://www.ccohs.ca/oshanswers/chemicals/chem_profiles/carbon_dioxide/health_cd.html
Congratulations, you found out CO2 is toxic. So is oxygen, so is water - http://www.msnbc.msn.com/id/16614865/
So is strychnine.
So is crack cocaine.
So is everything. The only question is how much it takes to kill you. Therefore, pay attention now, your point about CO2 not being is harmless is pretty stupid. Breathing 100% anything but air can kill you. CO2 is an inert gas - its doesn't get much safer than that. Seems I can use the internet. I can also use my brain - keep trying, you might get it one day too. No need to reply.