53Petroleum pool straddling State title area and Commonwealth title area

53 Petroleum pool straddling State title area and Commonwealth title area

(a) a petroleum pool is partly in the title area of a title and partly in an area (the Commonwealth title area) in which the titleholder has authority under the Commonwealth Act to explore for, or recover, petroleum; and

(b) petroleum is recovered from that pool through a well or wells in the title area of the title, the Commonwealth title area, or both—

(c) there is taken to have been recovered in the title area of the title such proportion of all petroleum so recovered as may reasonably be treated as being derived from that area, having regard to the nature and probable extent of the pool; and

(d) that proportion is to be determined by agreement between—

(i) the titleholder of the title; and

(ii) the Joint Authority; and

(iii) the Minister—

or, in the absence of agreement, by the Supreme Court on the application of—

(iv) the titleholder of the title; or

(v) the Joint Authority; or

(vi) the Minister.