31
In forceEntitlement to apply for retention licence
Part IIExploring and mining for petroleum
Division 3Retention licences
31 Entitlement to apply for retention licence
Where a permittee has:
(a)
by drilling operations in the permittee's exploration permit area, established the presence of petroleum;
(b)
given notice, under section 64, to the Minister of the presence of the petroleum in the permittee's exploration permit area; and
(c)
satisfied the Minister that the petroleum present in the permittee's exploration permit area is potentially of a commercial quality and quantity,
the permittee may apply for one or more retention licences in relation to the whole or part of the permit area.
This Act’s bill:Second reading speech
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