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Information Synopsis of Manitoba's
August 11, 2004 Oil Lease Sale
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The results of competitive bidding
on August 11, 2004 for Crown oil and gas rights which was
offered by the Department of Industry, Economic Development and
Mines, resulted in a total of $1,185,451.37 being added to
provincial revenue. |
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Seventy-three of the seventy-four
parcels offered, covering 11 893 hectares (29,733 acres), were
sold for a bonus amount totaling $1,114,624.50. The average
price per hectare for lease parcels sold was $93.72 ($37.49 per
acre). The average bonus at the last sale held May 12, 2004 was
$58.70 ($23.48 per acre). |
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Tundra Oil and Gas Ltd. paid the
highest price per hectare for a parcel located in the Sinclair
area. The firm paid $300.01 per hectare ($120.00 per acre) as a
tender bonus. |
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This is the third of four sales
scheduled for 2004. |
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The next sale will be held on
November 3, 2004. The deadline for posting requests is August
13, 2004. |
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