The Canada-Newfoundland and Labrador ƶijϻ Petroleum Board (C-NLOPB) advises that exploration licenses (ELs) 1127 and 1128, located off Newfoundland’s west coast held 100% by Black Spruce Exploration, have been cancelled due to non-compliance with the terms and conditions of the license agreement.
Specifically, the interest owner did not meet its obligations with respect to the Environmental Studies Research Fund (ESRF), a federal research program that sponsors environmental and social studies. Further, the 30-day period afforded to Black Spruce Exploration Corp. to request a hearing before the Oil and Gas Committee regarding ELs 1127 and 1128 has expired with no such request. Those lands now revert to the Crown.
The board also advises that, in consideration of delays in the regulatory process, the board has amended EL 1120 to extend Period I to eight years, 364 days bringing Period I to 14 January 2019 subject to the filing of an amended drilling deposit and security deposit for this extended period. Interest holders of EL 1120 are Ptarmigan Energy and Black Spruce Exploration.
