Board Grants Extensions To Two Exploration Licences
(Halifax, NS) – The Canada-Nova Scotia Offshore Petroleum Board has granted one year extensions to Exploration Licence (EL) 2406 held by Canadian Superior Energy Inc., and EL 2407 held by BEPCo Canada Company. In addition, BEPCo has surrendered 113,360 hectares of land associated with EL 2407, which now has an area of 113,840 hectares.
The ELs were scheduled to expire on December 31, 2007. The extensions were granted based on the Board’s Exploration Licence Fee Extension Policy (September 18, 2007).
The policy allows companies holding ELs to apply to the Board to extend Period 1 of the EL annually from six years up to the legislated maximum of nine years. In order to receive an extension, companies must demonstrate to the Board that they have been diligent in taking the necessary steps to drill a well. The companies are also required to pay an extension fee of $2.50 per hectare.
Six ELs expired on December 31, 2007. Forfeiture amounts associated with the expired ELs are being calculated. The lands have reverted to the Crown and could potentially be used in future Calls for Bids.
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About the Board
The Canada-Nova Scotia Offshore Petroleum Board is the independent joint agency of the Governments of Canada and Nova Scotia responsible for the regulation of petroleum activities and resources offshore Nova Scotia.
For further information, please contact:
Tim Church
Sr. Advisor, Communications & Government Affairs
Canada-Nova Scotia Offshore Petroleum Board
902-496-0750, Email: tchurch@cnsopb.ns.ca
January 27, 2012
CNSOPB Issues Revised Guidelines on the Issuance of Exploration Licences and is re-instituting its practice of considering nominations received.
January 20, 2012
Offshore Board Announces Results of Call For Bids NS11-1
January 10, 2012
Call for Bids NS11-1 is now closed
