Monthly natural gas and petroleum rights sale starts

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B.C is offering up 25 parcels covering nearly 14,000 hectares in the province’s third monthly sale of Natural Gas and Petroleum rights for 2011.

The sale follows two very poor revenue generating sales in January and February, which totalled just slightly more than $10 million in bonus bids.

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That leaves this year’s total at about one third of last year’s two month total and the cash strapped provincial government, looking for help to recover from the recession, could certainly use a bigger and better sale Wednesday.

It would take about a $33 million sale for this month to bring the current fiscal year total up to the 2010 calendar year total of $844 million.

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