21Annual reports: section 97C

21 Annual reports: section 97C

21 Annual reports: section 97C

(Former clause 16B of 2007 Reg)

(1) For the purposes of section 97C (2) (a) of the Act, the holder of a petroleum title must prepare and lodge with the Secretary an annual report that complies with this clause.

(2) An annual report must be lodged within 1 calendar month of the grant anniversary date (within the meaning of section 94B of the Act), or such other date notified by the Secretary in writing, regardless of whether an application to renew the petroleum title area has been lodged and not yet determined.

(3) An annual report must contain the following—

(a) full particulars of all surveys and other operations and activities carried out by or on behalf of the holder of the petroleum title during the preceding 12-month period within which the petroleum title had effect,

(b) details of expenditure on operations and activities carried out by or on behalf of the holder of the petroleum title during the preceding 12-month period within which the petroleum title had effect,

(c) the results and conclusions of such surveys and any other operations,

(d) the operations proposed to be conducted during the next 12-month period.