Based on the response, the government will divvy up available Crown land into parcels and call for bids.

"They bid the total value of work they propose to do," explained Northern Oil and Gas Directorate spokesperson George Booth. Whoever places the highest bid gets a nine-year exploration licence. The minimum bid is $1 million.

The land is expensive to drill on and isn't easily accessible. But money isn't usually an object to these companies, said Booth. And bids are refundable in some cases depending on the amount of money a company spends. Calls for nominations and bids take place annually in all Northern regions. Interested companies must comply with the federal guidelines. The deadline is Jan. 14. For more information, call the Northern Oil and Gas Directorate or check out http://www.ainc-inac-gc.ca/oil.