Saturday, March 29, 2008

British Columbia - Natural Gas Big Time Player

British Columbia, long an also-ran in Canada's energy boom, is emerging as one of North America's hottest areas for natural-gas exploration.

One factor: An accommodating government in a time when other countries and regions are angling for a bigger slice of energy-production profits.

Thursday, British Columbia said it reaped 152 million Canadian dollars (US$149.2 million) on the sale of drilling rights on 81 parcels of land covering more than 220,000 acres. It was the latest in a series of major sales, which already had brought in more than C$1 billion in the fiscal year ending Monday, outpacing the previous annual high of C$625.7 million.

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