Overview of the Call for Bids

A Call for Bids is a formal announcement by the Board that Exploration Licences (EL), Significant Discovery Licences (SDL) or Production Licences (PL) is available to be awarded through a competitive closed bid process. The land in which the licence is available has either been chosen for the Call by the Board or through a formal nomination, whereby interested parties can nominate specific land parcels that they deem prospective for future Call for Bids.

The Call for Bids specifies:

• The type of interest to be issued (EL, SDL or PL);
• The terms and conditions of the interest;
• The form and manner in which the bid is to be submitted;
• A closing date;
• The sole criterion that the Board will apply in assessing bids submitted in response to the Call.

NEW

The CNSOPB's new strategic direction is aimed at optimizing resource management. The 2007 Call for Bids is consistent with this new approach, and contains new terms and conditions which draw on best practices from other jurisdictions. Some of the new terms and conditions include:

• A lower minimum expenditure bid;
• A delay in the timing of the work deposit;
• 150% credit on allowable expenditures incurred in the first three years of the licence.