Exploration Licences Update
BP Canada’s EL 2434R
BP Canada Energy Group ULC (BP Canada) has forfeited the $3 million drilling deposit it paid in 2021 for exploration licence 2434R (EL 2434R). This drilling deposit previously extended Period 1 of the exploration licence to the full nine years permitted by legislation. EL 2434R expired on January 14, 2022 and all lands have reverted to Crown Land.
CNSOPB staff are currently reviewing BP Canada’s allowable expenditures application and any work deposit forfeitures will be determined based on the results of that review.