Another $20 Million in Natural Gas and Petroleum Sale

By 250 News

Victoria, B.C. - The Ministry of  Ministry of Energy, Mines and Petroleum Resources is reporting $20 million in sales from the  September  natural gas and petroleum sale. That brings the calendar year total to over $780 million dollars.

The  sale offered 70 parcels covering 29,863 hectares, and sold 53 parcels covering 22,212 hectares. The average price for this sale is approximately $897 per hectare.

The key parcels in the sale included:

-- Two drilling licences in the Muskwa River area, 35 kilometres west of Fort Nelson, with bids of approximately $1,500 and $3,500 per hectare  for a total of over $6 million.

--  Four leases south of the Blair Creek Gas Field, 90 kilometres north of Hudson's Hope, with per-hectare bids between $2,800 and $4,220 for a total of nearly $4 million.

The Province will be recognizing the contributions of the natural gas and petroleum sector to the B.C. economy during Oil and Gas Week, Oct. 10-16.

The next sale, scheduled for Oct. 20, 2010, will offer 25 parcels covering 11,528 hectares.

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