Another $20M in Natural Gas and Petroleum Sales

Friday, October 22, 2010 03:55 AM

Prince George, B.C.- Three properties just north of the Pine Pass are among the highlights of the October 2010 natural gas and petroleum sale.

· A drilling licence in the Favels Creek area, 30 km east of Chetwynd, with a per-hectare bid of over $8,000 for a total of over $8.5 million.

· A drilling licence in the Altares Gas Field, 40 km north of Hudson's Hope, with a per-hectare bid of nearly $4,000 per hectare for a total of over $1 million.

· Three leases south of the Blair Creek Gas Field, 90 km north of Hudson's Hope, with per-hectare bids between $3,120 and $5,008 for a total of over $3 million.

In all, the Oct. 20 sale offered 30 parcels covering 20,036 hectares, and sold 29 parcels covering 19,777 hectares. The average price for this sale is approximately $1,035 per hectare. The sale resulted in over $20 million in bonus bids, bringing the calendar year total to $801 million.

The next sale is scheduled for Nov. 17th.

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Another $20M in Natural Gas and Petroleum Sales

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