Economic Development Laurence Skelly says he doesn't know when the government will choose a company to drill for gas off the Island's coastline.
He faced a question for written answer this week in Tynwald from Douglas East MHK Chris Robertshaw on the issue.
Mr Skelly said applications opened in July and will shut in November.
But he said he wasn't sure what date the winner would be announced because it would depend on how many companies apply.
FSA releases new progress report on financial crime defences
The Isle of Man Financial Services Authority says progress has been made in strengthening the Island's defences against financial crime.
Changes planned for how government-run companies prepare accounts
Government-run companies could prepare their accounts for calendar years rather than financial years in future.
New business guide deals with stopping WMD financing
There's new guidance for Island companies to help them spot customers trying to finance weapons of mass destruction.
Office space up for rent at Ronaldsway Airport
Could your company take off at Ronaldsway Airport?
Have your say on the future of the Island's economy
The Isle of Man chamber of Commerce has launched an online survey about the future of the Island's economy.
Port St Mary hosts first business support drop-in session today
A series of business drop-in sessions will get underway in the south of the Island today.
Government releases guidance for businesses ahead of vape tax
The government's launched a new webpage with guidance for businesses as it introduces a new tax on vape products from October.
Survey shows low approval rating for Island clothing shops
Island women rate the offering from local clothing shops at just 3.5 out of 10, according to a new survey.
