The development of an offshore oiland gas industry in the Gulf ofSt. Lawrence has created, for the first time, the potential for interactions between the Newfoundland and Labrador offshore regulatory regime and other regimes (either the new regime in Quebec or the National Energy Board). As industry participants evaluate where they will spend their exploration dollars, they will need to understand the various regulatory regimes in place. Land tenure in Newfoundland and Labrador is similar to the regime in places subject to the jurisdiction of the National Energy Board. Over the past 25 years, however the decisions of the courts and the guidelines and policies of the Canada-Newfoundland and Labrador Offshore Petroleum Board have given rise to a unique regulatory regime. This paper describes the Newfoundland and Labrador offshore regulatory regime. The types of interests that are available are identified and described. Finally, two current issues in respect to land tenure are identified and discussed