JUNE LAND SALE GENERATES $14.1 MILLION

June's sale of Crown petroleum and natural gas rights has collected $14.1 million in revenue for the province.

The new monies bring this year's total revenue to $112.9 million, a 10 per cent increase over last year's near-record pace of $102.2 million.

"Saskatchewan is not seeing the same downturn in land sale activity that other Western Canadian jurisdictions are experiencing," Industry and Resources Minister Maynard Sonntag said. "The oil and gas industry appears to be increasing its commitment to the province's energy future."

This month's sale included two exploration licences that sold for just under $200,000 and 145 lease parcels that brought in $13.9 million.

The Weyburn-Estevan area received the most bonus bid activity with sales totalling $6.3 million. The Swift Current area was next at $5.5 million, followed by the Lloydminster area at $1.2 million and the Kindersley-Kerrobert area at $1.1 million.

The highest price received for a single parcel was just under $1.4 million. This two-section lease parcel located 35 km north of Estevan was purchased by Canadian Coastal Resources Ltd.

The highest price paid on a per-hectare basis was $10,229. Aldon Oils Ltd. was the successful bidder, acquiring this 32-hectare lease parcel 29 km southeast of Weyburn for over $330,000.

The next Crown land sale will take place on Monday, August 13, 2007. This sale will feature the first-ever public offering of Crown oil sands and oil shale rights.

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For more information, contact:

Ed Dancsok
Industry and Resources
Regina
Phone: 306-787-2602