Petro-Canada and B.C. Government Gather with Community Leaders to Celebrate Donation to Charlie Lake Provincial Park
FORT ST. JOHN, BRITISH COLUMBIA--(Marketwire - June 22, 2007) - Petro-Canada today hosted a community event to formally recognize the expansion of Charlie Lake Provincial Park in northern British Columbia.
"Petro-Canada is delighted to have partnered with the provincial government and our neighbours in the Peace region through this initiative," said Leon Sorenson, Petro-Canada's Vice-President of Canadian Operations, North American Natural Gas. "Today's announcement not only serves as a reminder to local communities of this valuable resource and the need to protect it, but is meant to encourage outdoor enthusiasts to come and responsibly enjoy what this region has to offer."
In early 2005, Petro-Canada sold its property adjacent to Charlie Lake Provincial Park to the province to expand the Park by 77 hectares. The land, worth $325,000, was sold for $216,000, with the difference waived by Petro-Canada as a donation. In addition, Petro-Canada donated the proceeds of the sale back to the province in the form of community investments with an educational focus.
"This is a celebration of innovative partnerships and environmental stewardship at its very best," said Energy, Mines and Petroleum Resources Minister Richard Neufeld, who is also the local MLA. "Petro-Canada's investment in the environment is an example of how the government and corporate citizens are working together to bring benefits from oil and gas development to all British Columbians."
The $216,000 land sale proceeds that Petro-Canada donated to the Province were allocated as follows:
- $36,000 for site clean up, trail creation, construction of a dock and access controls;
- $30,000 for a second year of the Province's Education and Training Initiative, which supports oil and gas training programs to increase the number of B.C. residents trained for and employed by the oil and gas industry; and
- $150,000 in capital to the Oil and Gas Centre of Excellence at Northern Lights College in Fort St. John.
"The Oil and Gas Centre of Excellence at Northern Lights College is expected to fulfill a needed and integral role in training new workers and helping current workers upgrade their skills to meet the growing needs of the oil and gas industry in northern B.C.," said Northern Lights College President D. Jean Valgardson. "The generous $150,000 contribution from Petro-Canada has been significant in helping the Centre get closer to its official opening, which is planned for September of this year."
Charlie Lake Provincial Park is located north east of Fort St. John. The Park, now nearly double its original size of 98 hectares, is situated in the southwest shore of the 13-kilometre-long Charlie Lake. The Park includes 58 campsites, a boat launch, 40 parking spaces, forested trails, children's play area, picnic shelter and tables, and horseshoe pits. Petro-Canada's donation has added additional forested trails north of the current Park.
Petro-Canada is one of Canada's largest oil and gas companies, operating in both the upstream and the downstream sectors of the industry in Canada and internationally. We create value by responsibly developing energy resources and providing world class petroleum products and services. Petro-Canada is proud to be a National Partner to the Vancouver 2010 Olympic and Paralympic Winter Games.Our common shares trade on the Toronto Stock Exchange under the symbol PCA and on the New York Stock Exchange under the symbol PCZ.
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