Vulcan Wins Offshore Block

s, Newfoundland (PRWEB) December 4, 2005 St. John’ Vulcan Minerals Inc. (“the Company” TSX-V: VUL), is pleased to announce that it is the successful bidder for parcel 7 offshore Western Newfoundland pursuant to Call for Bids NL05-1 by the Canada Newfoundland and Labrador Offshore Petroleum Board (CNLOPB). Vulcan submitted a joint bid on a 50/50 basis with a private company. Pursuant to the call for bids the Company and its partner have 15 days to post a security deposit of $ 128,000 for the offshore license representing 25% of its work commitment bid amount of $ 512,012. The security deposit is refundable if the work commitment is carried out. The exploration license will have an initial 5-year term extendabl

Read more ...