Chief & Council set path toward economic sovereignty
May 27, 2014
Beardy’s & Okemasis First Nation – Chief & Council are pleased to announce a significant step toward economic sovereignty through the signing of a Memorandum of Understanding with Native American Resource Partners (NARP).
“We’re very excited to be partnering with NARP” said Chief Rick Gamble. “Our partnership will enable our First Nation to identify and purchase strategic holdings through the TLE process that may have potential for oil and gas- which in turn leads to increased own-source revenue and greater self-sufficiency.”
The NARP partnership will enable the Beardy’s & Okemasis First Nation to take the necessary steps toward invitation and participation in the First Nations Oil & Gas Money Management Act (FNOGMMA).
Regarding the new venture, John Jurrius, NARP’s President & CEO said, “NARP and its leadership team are excited about initiating this relationship with Beardy’s & Okemasis First Nation. NARP has been working with Saskatchewan First Nations since 2009 to research the opportunity to use Treaty Land Entitlement to bring about financial sovereignty for its partners. NARP has taken the time to study the complexities of the TLE program and has created a financial product which allows First Nations to secure the funds needed to enable the Nations to fully utilize their rights under the 1992 Saskatchewan Treaty Land Entitlement Framework Agreement. While First Nations were provided the right to acquire additional acreage under the TLE Agreements, the government funding for the program has been insufficient to allow them to fulfill their acreage allocation. Key to achieving success under the TLE program is facilitating the Nation implementing the moneys management provisions under section 11 of FNOGMMA, as the Kawacatoose First Nation has recently succeeded in doing. NARP is confident that the structure we’ve developed provides a solution for Beardy’s and other First Nations to successfully utilize their TLE allocation and acquire lands in resource rich areas of Saskatchewan to produce significant economic benefits for their members.”
“Through FNOGMMA, our First Nation will undertake the development of the legal framework to manage our own royalties from processed natural resources” explains Councillor Kevin Seesequasis. “We’ve already received the political mandate to proceed with a strong governance and accountability agenda. Through FNOGMMA and NARP, we’ll also have the economic impetus.”
On May 15, Chief & Council participated in “Utilizing Legislation to Capture Economic Development Opportunities”- a summit hosted by the Kawacatoose First Nation – the first and only First Nation in Canada to be invited to participate in the First Nations Oil & Gas Money Management Act (FNOGMMA). “The information presented at the summit will enable better relations with another First Nation, but provided the tools and contacts we need to begin this important work” said Seesequasis.
“Though these are only our first steps, our people will be engaged throughout the entire process – this is a journey we’re going to embark on together” concluded Chief Gamble.
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For more information, contact Chief & Council Communications:
Phone: (306) 467-4523 ext 237