Land Sale Results

Synopsis of Manitoba's Oil Lease Sale

May 17, 2006

black dropLease Sale Statistics (1979 - 2008 PDF)
black dropSchedule of Public Offering - 2008 (PDF)
black dropSchedule of Public Offering - 2009 (PDF)

The results of competitive bidding on May 17, 2006 for Crown oil and gas rights which was offered by the Department of Industry, Economic Development and Mines, resulted in a total of $834,591.23 being added to provincial revenue.

All of the forty-seven lease parcels offered, covering 5990.74 hectares (14,976.85 acres), were sold for a bonus amount totaling $794,823.64. The average price per hectare for lease parcels sold was $132.68 ($53.07 per acre). The average bonus at the last sale held on February 15, 2006 was $257.18 ($102.87 per acre).

Rideau Petroleums Ltd. paid the highest price per hectare for a parcel located in the Daly Field area. The firm paid $1,265.81 per hectare ($506.32 per acre) as a tender bonus.

This is the second of four sales scheduled for 2006. The next sale will be held on August 16, 2006. The deadline for posting requests is May 19, 2006.

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