This accounts for the vast majority of the total $58 million committed to the 10 permits awarded,out of 14 offered, and indicates the high expectations held by the companies for block 7 in the Carson/Bonnition basin. The funds committed probably reflect the interpretation of Newfoundland's Department of Mines and Energy that the basin is host to trapping mechanisms similar to those in the Jeanne d'Arc basin, home to the Hibernia and Terra Nova fields.