Dismal start to first natural gas and crown petroleum rights sale of 2015

first_imgOnly eight of the 18 parcels offered were purchased and the average price was $618.30 per hectare.That left the bonus bids total at just over $2.2 million, making it the lowest January sale in the post depression period.The previous low was in 2009, when the first sale of the calendar year resulted in a total of $7.1 million.- Advertisement -It should be noted however, that last January’s total was only $7.4 million, and also set the stage for what looked like a dismal government revenue year.However, it was saved by a $209 million November sale, which ended up being about 55 per cent of an annual total of $382.7 million – the best one since 2010.The next sale is set for February 25, 2015, and to top last year’s results, it will need to post a total of more than $25.4 million.Advertisementlast_img