RESULTS OF THE FEBRUARY 28, 2002 GEOTHERMAL RIGHTS DISPOSITION
The February 28, 2002 competitive offering of two geothermal permits in the Meager Creek area, brought
a total of $9,010 from bonus bids, fees and rent. Both permits were acquired by Gaea Energy Enterprises.
The adjacent parcels are located approximately 57 kilometers northwest of Pemberton and 9 kilometers
north of an existing geothermal lease. Geothermal permits are issued for a term of one year but may be
renewed up to 7 times, pending satisfaction of an annual work requirement and rental obligation. Permits
convey the exclusive right to apply for permission to drill wells and to obtain a 20-year geothermal lease,
based on drilling and submission of a development plan.
PROVINCE OF BRITISH COLUMBIA MINISTRY OF ENERGY AND MINES
CROWN GEOTHERMAL RIGHTS PUBLIC TENDER ACCEPTED OFFERS
FEBRUARY 28, 2002
| TITLE TYPE |
PARCEL NUMBER |
HECTARE |
PURCHASED BY |
% |
PRICE/HA |
BONUS PAID |
| GEOTHERMAL PERMIT |
52589 |
246 |
GAEA ENERGY ENTERPRISES |
100.00000000 |
$9.18 |
$2,259.00 |
| GEOTHERMAL PERMIT |
52590 |
791 |
GAEA ENERGY ENTERPRISES |
100.00000000 |
$5.96 |
$4,714.00 |
PROVINCE OF BRITISH COLUMBIA MINISTRY OF ENERGY AND MINES
CROWN GEOTHERMAL RIGHTS PUBLIC TENDER SUMMARY
FEBRUARY 28, 2002
| |
OFFERED (NUMBER) |
OFFERED (HA) |
PURCHASED (NUMBER) |
PURCHASED (HA) |
AVERAGE PRICE |
FEES |
RENT |
TENDER BONUS |
TOTAL |
| GEOTHERMAL |
2 |
1037 |
2 |
1037 |
$6.72 |
$1,000.00 |
$1,037.00 |
$6,973.00 |
$9,010.00 |
The Branch is currently processing a request for a geothermal permit in the Mount Cayley area which is 21 kilometers west of Whistler.
