12Applications for renewal of petroleum titles: section 19 (2AA) and (2AB)

12 Applications for renewal of petroleum titles: section 19 (2AA) and (2AB)

12 Applications for renewal of petroleum titles: section 19 (2AA) and (2AB)

(Former clause 11A of 2007 Reg)

(1) For the purposes of section 19 (2AA) (b) of the Act, in the case of an application for renewal of a petroleum title that relates to part only of the land comprised in the title, the prescribed manner of describing the land is by means of a map prepared in accordance with the requirements of clause 4 for a map accompanying an application for a petroleum title of that type.

(2) For the purposes of section 19 (2AB) (b) of the Act, an application for renewal of a petroleum title must be accompanied by the following information—

(a) particulars of the financial capability and relevant technical advice available to the applicant,

(b) a renewal justification statement, that is, a statement that contains the following information—

(i) details of the operations carried out on the land comprised in the title during the current term of the title, including the following—

(A) the types of operations carried out,

(B) a map showing the location of operations carried out,

(C) any expenditure incurred in relation to those operations,

(ii) a summary of the known resources, and potential resources, on the land comprised in the title,

(iii) a summary of the potential for the development of resources on the land comprised in the title,

(iv) a statement giving the reasons for which the applicant considers the renewal to be justified,

(c) a rehabilitation cost estimate in relation to the title,

(d) a work program for the proposed term of renewal that complies with the requirements of section 14 of the Act.

Note.

Clause 4 imposes requirements for maps and plans accompanying applications for a petroleum title. Section 19 (5) of the Act has the effect that the requirements of clause 4 extend to applications for renewal of a petroleum title.