News Release - August 18, 2005
LAND SALE REVENUE CONTINUES TO ESCALATE
Interest in Saskatchewan's energy sector remains strong as the latest land sale numbers show.
The August sale of Crown petroleum and natural gas rights generated $29.2 million for the province, bringing the calendar year total to $92.8 million - nearly double the $47.1 million received this time last year.
"Strong oil and gas prices continue to generate heightened levels of drilling activity and interest in the acquisition of oil and gas rights in the province," Industry and Resources Minister Eric Cline said. "Average prices per hectare reached $300, the highest level received since June 1984."
The August sale included 13 exploration licences that sold for $13.1 million and 287 lease parcels that brought in over $16 million.
In addition, one special exploratory permit was awarded on the basis of a work commitment. This large disposition covering 20 townships in the Preeceville area was awarded to Canadian Landmasters Resource Services Ltd. on a work commitment of over $3.2 million.
The Weyburn-Estevan area saw the most activity with sales of $12.6 million. The Swift Current area closely followed at $11.6 million. The Lloydminster area was next at $3.3 million and the Kindersley-Kerrobert area fetched $1.7 million.
The highest price received for a single parcel was $4,736,016.73. Silver Hawk Resources Ltd. purchased this 13-section exploration licence located 6 kilometres southwest of the Senate Second White Specks Gas Pool in the extreme southwest corner of the province.
The highest price on a per-hectare basis was $4,820. Scott Land & Lease Ltd. purchased this 16-hectare lease parcel, located adjacent to the Rush Lake Mannville Sands Oil Pools, 12 kilometres northeast of Maidstone.
The next sale of Crown petroleum and natural gas dispositions will be October 4th, 2005.
For More Information, Contact: