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LAND SALE REVENUE DOUBLES
Released on June 7, 2001
The June sale of Crown petroleum and natural gas rights generated $13.3
million in revenue for the province, nearly double the $6.7 million
collected in the April sale.
"Natural gas-prone areas dominated for the second sale in a row," Energy
and Mines Minister Maynard Sonntag said. "This sale reveals a sustained
interest in acquiring natural gas properties driven by continued high
prices."
The current sale included seven exploration licences that sold for $8.6
million and 150 lease parcels that brought in $4.7 million.
Gas-prone areas accounted for $10.2 million or over 75 per cent of the
total sale. This is substantially higher than the $3 million collected in
the April sale and represents the highest percentage ever for gas-prone
lands in a sale.
As in the April sale, the Swift Current area received the most bonus bid
activity due to its high amount of gas-prone lands, with sales totaling
$10.3 million. The Lloydminster area was second at $1.8 million followed
by the Kindersley-Kerrobert area at just over $925,000. The Weyburn-
Estevan area rounded out the sale at approximately $375,000.
The highest price received for a single parcel was $3,276,901.94. This
8,000-hectare exploration licence, located on the Saskatchewan-Montana
border in the extreme southwest corner of the province, was purchased by
Maverick Land Consultants (87) Inc.
The highest price on a per-hectare basis was $2,033.67. Acclaim Energy
Inc. purchased the 69-hectare parcel, located five kilometres north of
Lloydminster in the Northminster Sparky Sand Pool, for $140,323.23.
The next sale of Crown petroleum and natural gas dispositions will be
August 14th, 2001.
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For more information, contact:
Ed Dancsok, Director
Geology and Petroleum Lands Branch
Energy and Mines
Regina
Phone: (306) 787-2602
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