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Recently Cameron Wyatt, son of Doug and Leanne Wyatt of Kisbey, has revolutionized the way in which freehold mineral right owners and resource companies negotiate with the creation of MineralRights.ca.

Having grown up in southeast Saskatchewan and having been around the oil and gas industry his entire life it made sense that Cameron would end up in the oil sector. He worked as a battery operator for awhile before pursuing a petroleum engineering degree, which has led to him becoming president and CEO of Heritage Energy Corp., a Regina-based consulting firm.

Working in the oil and gas industry for the past 14 years he has seen the mineral rights owners' perspective, while also realizing the resource companies' perspective. Thus, Cameron developed MineralRights.ca.

"I started off with a simple classifieds website and then that's when I came to the idea of hosting auctions," Cameron stated. "I've got two auction processes. One's a live mineral auction where MineralRights.ca markets the opportunity to resource companies and then we host a four day long live mineral auction, I expect that the majority of our bids will be on the last day, right down to the last few hours"

" option number two is a silent mineral right auction where the mineral right owner can post their mineral rights to the resource companies, we'll market them on their behalf and the resource companies will submit bids on their schedule to the mineral right owner. They can accept them as they see fit and negotiate through our silent bidding process to execute his lease."

Prior to this new process, resource companies would head out to sit down at someone's kitchen table and negotiate leases.

"So, my idea is to create an online market place where the mineral right owners can sign up and we'll host the auctions, resource companies can sign up as well to view the deal flow," Cameron stated.

Cameron went on to say that in the kitchen negotiations it's impossible to know if what you have agreed to is the best deal possible, while MineralRights.ca assists in this sense.

"On the new system that MineralRights.ca has created we're pushing it out to several resource companies, we're creating a competitive environment, and we're auctioning off the mineral rights in either a live or silent manner," Cameron stated.

Thus, MineralRights.ca allows for a fair market value to develop because the mineral rights, according to Cameron, are worth as much as the resource companies are willing to pay.

" one resource company will value them differently than another resource company and/or what I would value them at," Cameron explained. "So, the only way to come to a fair market value, in my opinion, is to create a competitive environment and an auction process."

To date MineralRights.ca has hosted one silent auction, which Cameron said went extremely well with the mineral right owner having several bids which resulted in a lease worth 75 percent more than had been expected.

The first live auction on the site will be hosted on April 15 and Cameron is excited to see how it will fair.

With a combined number nearing 200 of both mineral right owners and resource companies the website helps both parties effectively and efficiently negotiate the lease.

"We had three more local resource companies from southeast Sask in the last week and I'm very excited about that, and I'm equally excited when we get more and more mineral right owners to sign up" Cameron said.

In addition to the auctions MineralRights.ca is able to host they also provide a management portal for free to mineral rights owners.

" even if you do have your mineral rights currently leased you can still upload your information, any documents to that, all of that is free to use, and an automated email will actually be sent when your mineral rights are about to expire" Cameron stated.

"It's another option and ability for the mineral right owner to back up their information as well"