February sale brings low bonus bids

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The February petroleum and natural gas sale is considerably lower than the same month last year.

This month’s sale resulted in only $2.1 million in bonus bids.

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Only eight parcels were sold, covering 3,924 hectares. The average price per hectare was $531. The parcels included four drilling licences in the Buick Creek West – 80 km northwest of Fort St. John – gas field and raised nearly $1.9 million. The average price per hectare for the four licences was $664.

With January’s $8 million in bonus bids, February’s sale brings the total for the first two months of 2011 up to slightly more than $10 million.

February 2010 resulted in $17 million in bonus bids.

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