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: www.cnsopbdmc.ca

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.