St John’s, NL; 19 June 2008 -  NOIA’s (Newfoundland & Labrador Oil & Gas Industries Association) 2008 Annual International Petroleum Conference wrapped up in St John’s today with a great panel discussion and an inspiring message from General Rick Hillier, Chief of the Defence Staff, Canadian Forces.

This morning’s final Conference session, $100 Oil – The Good, The Bad & The Ugly, provided much food for thought on the true meaning of the high price of oil. Five presentations were followed by a Panel Discussion featuring Panelists: Richard Kelly, Senior Economist, TD Bank Group; Kurt S. Abraham, Director of Professional Development, Texas Alliance of Energy Producers; Dr Thomas Homer-Dixon, Author; Kyle Simpson, Policy Director, Hyatt Farber Schreck; and Philip (Pete) Stark, VP Industry Relations, IHS. Delegates engaged the panel of academics, economists and analysts in a discussion of international market dynamics. Through this process, participants made an effort to map the new business landscape created by long-term buoyant oil pricing and identify ways to advance exploration and development in East Coast Canada.

Hon. Gary Lunn, Minister of Natural Resources Canada, made a surprising and very welcome announcement to close out the morning session.  The Minister announced that NRCan will be establishing an Atlantic Canada Energy office here in St John’s, which will engage in attracting investment in the offshore energy sector, improving trade and market development for supply companies in the region and enhancing coordination and support for energy science and technology.  The office will bring a federal presence to the region and make services sought by local players much more accessible.

General Hillier addressed the crowded Delta Hotel ballroom, outlining the role of the Canadian Forces worldwide.  His speech was very moving, as he gave a closer look at what the Forces are doing at home and abroad, illustrating their role in search and rescue and rebuilding regions around the world that have been totally devastated by decades of war.

NOIA President & CEO Bob Cadigan says this year’s Conference was another huge success.

“It has been a great week, we’ve had some great speakers and an opportunity for some excellent debate,” says Cadigan. “We believe East Coast Canada oil and gas is on the cusp of a new era of growth and prosperity, and the things we’ve discussed here this week only strengthen that conviction.”

NOIA’s Conference is the region’s largest, most important oil and gas industry event.  It provides an opportunity to stimulate discussion about the current state and future possibilities of East Coast Canada’s petroleum industry, and is a must-attend event for anyone wishing to do petroleum-related business in the region.

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NOIA (Newfoundland & Labrador Oil & Gas Industries Association) is Canada's largest offshore petroleum association and has been headquartered in Newfoundland and Labrador since its founding in 1977. With over 450 members in this region and around the world, NOIA is the information hub of East Coast Canada’s oil and gas industry.  NOIA members provide products and services for the petroleum sector; associate members include petroleum companies, trade associations, educational institutions and government bodies and agencies.

For additional information:
Deirdre Greene,
NOIA Vice-President, Policy & Communications
709-758-6617
drgreene@noianet.com