Call for Bids 2008

Overview - What's New

The CNSOPB has conducted a comprehensive geological and geophysical assessment of Parcels 1 and 2 using all available data

Relevant well and seismic data for both parcels can be accessed via the CNSOPB Data Management Centre:

Exploration Licences for these parcels include recently updated terms and conditions, for example:

  • A lower minimum work expenditure bid, reduced from $1,000,000 to $500,000.
  • By posting $50,000 upfront EL holders have three years to assess geology, raise financing, attract a farm-in partner or surrender licence before posting large financial requirements.
  • A 150% credit on allowable expenditures approved in the first three years.
  • Deep water parcels allotted an extra year in Period 1 to account for the challenges of exploring in deeper waters.