Exploration Licence interest representatives can offset certain bid costs by submitting allowable expenditures to the Board for approval. These expenditures can be credited against the Work Expenditure Bid in Period 1 of the licence, and against Rentals in Period 2 of the licence.
Examples of approved allowable expenditures include the cost of acquiring or purchasing seismic, geoscience studies, drilling, environmental assessments and research and development.
If a company has not spent the amount committed to in its Work Expenditure Bid on approved Allowable Expenditures by the end of Period 1, then a portion of the Work Expenditure Bid must be forfeited to the Receiver General for Canada. The following table provides up-to-date information on approved Allowable Expenditures and associated forfeiture amounts.
Approved Allowable Expenditure table.xls
Approved Allowable Expenditure table.pdf
