BC Government revenue from monthly sales of petroleum and natural gas rights is now running $100 million behind last year’s pace.

 

Yesterday’s April sale was the largest one this year resulting in $11 million 600 thousand in bonus bids.

However, it was less than 15 percent of last year’s April sale, which resulted in bonus bids of more than $85 million.

So, it leaves the four month total at just over $28 million, as compared to more than $128 million for the same period in 2010.

All 29 parcels offered yesterday were purchased, with an average price of $1281 per hectare.

The next sale is set for May 25th, but based on what’s occurred so far this year, there’s little reason to assume the year-over-year bonus bids gap will narrow, in either of the next two months.

The 2010 May sale resulted in the purchase of 92 parcels for nearly $77 million…and the 2010 June sale, went over $404 million.