96Grant of cash‑bid petroleum exploration permit

96 Grant of cash‑bid petroleum exploration permit

(a) an applicant has been given an offer document under section 94 or 95; and

(b) the applicant has made a request under section 256 in relation to the offer document within the period applicable under that section; and

(c) the applicant has paid the specified amount within the period applicable under section 257—

the Minister must grant the applicant a petroleum exploration permit over the block or blocks specified in the offer document.

1 If the applicant does not make a request under section 256 within the period applicable under that section, the application lapses at the end of that period—see section 256(4).

2 If the applicant has not paid the specified amount within the period applicable under section 257, the application lapses at the end of that period—see section 257(1).

(2) For the purposes of this section, the specified amount is the amount specified in the offer document as the amount that the applicant must pay for the grant of the petroleum exploration permit.