Land Sale Results

Synopsis of Manitoba's Oil Lease Sale

November 12, 2008

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

The results of competitive bidding on November 12, 2008 for Crown oil and gas rights which was offered by the Department of Science, Technology, Energy and Mines, resulted in a total of $930,549.56 being added to provincial revenue.

All of the Forty-seven lease parcels offered, covering 5617 hectares (13,879.61 acres) were sold for a bonus amount totaling $892,088.66. The average price per hectare for lease parcels sold was $158.81 ($64.27 per acre).

Saskatoon Assets Inc., paid the highest price per hectare for a parcel located in the Sinclair area. The firm paid $1,996.89 per hectare ($808.13 per acre) as a tender bonus.

During 2008, 154 Crown oil and gas leases covering 13,694 hectares (33,838 acres) were sold for a combined bonus amount totaling $4,929,464.88. The four sales conducted in 2008 generated a total of $5,038,993.94 in revenue. The average bonus price per hectare for Crown oil and gas leases in 2008 was $359.97 ($145.68 per acre).

This is the last of four sales scheduled for 2008. The next sale will be held on February 11, 2009. The deadline for posting requests is November 14, 2008.

Four sales are scheduled for 2009; February 11, May 13, August 12 and November 4, 2009.

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