OVERVIEW OF HYDROCARBON RESOURCES AND OPPORTUNITIES ON CANADA'S FRONTIER LANDS

Canada's frontier lands are those in which the federal government owns and has jurisdiction over non-renewable resources. They extend over 10 million square kilometres and consist of the Northwest Territories, Nunavut Territory and the offshore areas. Recent developments off the east coast such as Hibernia and increasing interest in producing Alaskan and Mackenzie delta gas have focussed attention on frontier lands. Lack of infrastructure, and the harsh physical environment have made exploration and development expensive and, as a result, these lands have not been heavily explored. Nonetheless, large structures and quality reservoirs exist, and frontier lands are estimated to contain approximately 60% of Canada's undiscovered gas, and 70% of Canada's undiscovered conventional oil. The regulatory regime is based on the concept of sustainable development. It is rigorous with respect to worker safety and protection of the environment, but it also recognizes the isolated nature of these areas, and front-end financial commitments are low. Excellent opportunities exist on frontier lands for individuals or companies with expertise and commitment.