PanCanadian Petroleum Ltd.’s newest venture, a web page withinits Internet site dedicated to leasing and farming out some of itsundeveloped oil and natural gas rights in Western Canada, waslaunched last week with its first Call for Bids centered on fourblocks on land that cover 69,000 acres in Alberta.

Bidding opened Tuesday (July 4) and will end at noon MST on Aug.31 for the first four blocks.

The web page, LandDeal, which is found on the company’s web siteat www.pancanadian.ca/landdeal, will offer details of the blocks,including the size, location, drilling history, geology, seismicdata and terms and agreements. While title to the lands isgenerally not for sale, sealed bids to lease or farm on theundeveloped lands will be available for a specific period of time,generally two years.

Within the site, potential bidders can view maps, schedules,agreements and a description of the bidding process. The leaseinformation is available online, but the bids have to be submittedin a traditional paper format. LandDeal’s page offers the paperforms for downloading.

“LandDeal offers industry players new information for exploringand developing PanCanadian’s extensive land base,” said GeraldMacey, PanCanadian’s executive vice president for exploration.

Calgary-based PanCanadian is a major holder of more than 11million acres of mineral rights across Canada’s prairie provinces,including ownership of more than eight million “fee” land acres,and 3.4 million acres of “Crown” land. The first lands up for bidare located in east central Alberta, and many of the availablesections have extensive seismic coverage, which is available forpurchase.

The four Alberta blocks up for bid include Cooking Lake,Willingdon, Killam and Leahurst. The second round of bidding, onsites not yet announced, will begin Sept. 25 and end Nov. 30. Seethe web site for specific information, or contact Carolyn Armitageof investor relations at (403) 290-2931.

Carolyn Davis, Houston

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