30Information to be provided in annual title assessment report—greenhouse gas holding lease

30  Information to be provided in annual title assessment report—greenhouse gas holding lease

 (1) For the purposes of paragraph 25(2)(e), this section sets out the requirements for a greenhouse gas holding lessee’s annual title assessment report, for a reporting period for the lease.

 (a) if the lease is subject to a condition requiring the lessee to carry out work in, or in relation to, the lease area:

 (iii) the total expenditure incurred for the work from the time the lease was granted until the end of the reporting period;

 (b) for each activity not covered by paragraph (a) that the lessee carried out in, or in relation to, the lease area during the reporting period:

 (iii) the total expenditure incurred for the activity from the time the lease was granted until the end of the reporting period;

 (c) a description of the results of the work and activities carried out in, or in relation to, the lease area, including:

 (i) a description of how carrying out those activities affected the likelihood and timing of the viability of injecting a greenhouse gas substance into an identified greenhouse gas storage formation in the lease area; and

 (ii) a description of the work completed in relation to each proposed development scenario for the injection of a greenhouse gas substance into an identified greenhouse gas storage formation in the lease area, and the status, as at the end of the reporting period, of each of those development scenarios; and

 (iii) details about any potential or eligible greenhouse gas formations in the lease area; and

 (iv) estimates of the storage resources for each of those potential or eligible greenhouse gas formations; and

 (v) details about any potential greenhouse gas injection sites in the lease area;

 (i) each activity, and the estimated expenditure for each activity, that the lessee intends to carry out in later reporting periods for the lease (or any other period during which the lease is in force); and

 (ii) a description of how carrying out those activities will affect the likelihood and timing of the injection of a greenhouse gas substance into an identified greenhouse gas storage formation situated in the lease area;

 (e) a description of the measures taken by the lessee to prepare for the activities that the lessee intends to carry out in the next reporting period for the lease (if any);

 (f) details of the lessee’s future plans or proposals in relation to any wells that have been drilled in the lease area from the time the lease was granted until the end of the reporting period;

 (g) annual cash flow and capital expenditure forecasts for each proposed development scenario for the injection of a greenhouse gas substance into an identified greenhouse gas storage formation situated in the lease area;

 (h) details of any identified sources of greenhouse gas substances;

 (i) if the reporting period is not the first reporting period for the lease—the following information about each identified greenhouse gas storage formation situated in the lease area:

 (i) a description of the formation;

 (ii) any new information relating to the evaluation of the formation;

 (iii) an estimate of the contingent storage resources of the formation as at the end of the previous reporting period for the lease;

 (iv) any new or revised technical and economic data upon which the estimate mentioned in subparagraph (iii) is based, including a report of any study carried out that has resulted in a revised estimate;

 (j) if the lease is subject to a condition requiring the lessee to maintain insurance—details of the insurance the lessee maintains in compliance with that condition;

 (k) details of any security that is taken to be in force in relation to the lease under section 31 of the Act, including the form and the amount of the security;

 (l) any other information that is required to be included in the annual title assessment report by a condition of the lease;

 (m) a list of the reports submitted to the responsible Commonwealth Minister in accordance with this instrument during the reporting period.

Note: A form approved for the purposes of this section must be published on the Titles Administrator’s website: see section 32.