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NOTICE

January 06, 2009

Board Extends Exploration Licences


(Halifax, NS) – The Canada-Nova Scotia Offshore Petroleum Board has approved one year extensions to Exploration Licence (EL) 2406 held by Canadian Superior Energy Inc. and EL 2407 held by BEPCo Canada Company. In addition, Canadian Superior Energy Inc. has surrendered 142,222 hectares of land associated with EL 2406, which now has an area of 145,778 hectares.

The ELs were scheduled to expire on December 31, 2008.  

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 a refundable extension fee of $2.50 per hectare.

For more information about the above noted licences, or other offshore licences, please visit our searchable Licence Registry.

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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