Company Tickled with Horn River Basin Gas Find

By 250 News

Although the Province recently announced it would pump $5.7 million into Geoscience B.C. for  research on oil and gas in the Horn River  basin in the north east area of the province,  the interest in that region would indicate  the research has already been done.

Earlier this week, one oil and gas producer ( Nexen Inc) said its  find in the Horn river basin,  has ""the potential to become one of the most significant shale gas plays in North America." Nexen says early drilling would suggest their  holdings in the area could hold between 3 and 6 trillion cubic feet of natural gas.   

The Province sold $39.6 million in oil and gas rights in April.  That's $5 million more than  in  April of 2007.

The April sales are the first for the  new fiscal year,  but are  a fraction of the sales in March  which  topped $150 million dollars.

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