158Royalty payable if excess petroleum recovered from reservoir

158 Royalty payable if excess petroleum recovered from reservoir (a) petroleum is stored in a reservoir in a production licence area; and (b) a royalty under this Act has been paid in respect of some or all of the petroleum injected into the reservoir, or no royalty is payable under this Act in respect of that petroleum; and (c) more petroleum is recovered from the reservoir than was injected into the reservoir. (2) The holder of the licence must notify the Minister in writing immediately as soon as it is established that petroleum in respect of which a royalty is payable, but in respect of which a royalty has not been paid, has been, or is being, recovered from the reservoir. (3) The holder of the licence is liable to pay a royalty on the excess petroleum recovered at— (a) the rate of 10% of the value of the petroleum at the well-head; or (b) if a different rate is specified in the licence under which the petroleum was recovered, at that different rate.