Oil and Gas lease sales down, province earned $4.173 million from October sale.
The October 10th, 2012, B.C. oil and gas rights public tender sale provided a meager $4.173 million for the province of British Columbia. There were no permits on offer and two drilling licenses offered for a total of 4,944 ha had an average price of $206.52 total, and a total price of $3.134 million.
Successful bids were received from OMG Resource Group Limited, Sandstone Land and Mineral Company Limited, for drilling licences, and Standard Land Company Inc. No bids were received for leases and one lease was withdrawn.
The next oil and gas lease sale is November 7th, 2012.
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