The federal Minister of Energy and Natural Resources Canada and the provincial Minister of Natural Resources and Renewables have jointly set aside (vetoed) the fundamental decision pertaining to the issuance of Exploration Licence 2437 for Parcel #8 to Inceptio Limited.
The Work Expenditure Bid deposit received by the Canada-Nova Scotia Offshore Petroleum Board will be returned to Inceptio Limited. Parcel #8 will no longer be up for bid and will remain as Crown land.
Yesterday, a joint statement from Tory Rushton, Minister of Natural Resources and Renewables, and Jonathan Wilkinson, federal Minister of Energy and Natural Resources was released. The Ministers’ release can be found here.
Any questions regarding the joint decision should be directed to the federal and provincial governments.
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 Canada-Nova Scotia.
For more information:
Canada-Nova Scotia Offshore Petroleum Board
Natural Resources Canada
Nova Scotia Department of Natural Resources and Renewables