5Work programs for exploration licences or assessment leases: section 14

5 Work programs for exploration licences or assessment leases: section 14

5 Work programs for exploration licences or assessment leases: section 14

(Former clause 5 of 2007 Reg)

(1) For the purposes of section 14 (1) (d) of the Act, a work program supporting an application for an exploration licence or an assessment lease must include particulars of the estimated amount of money that the applicant proposes to spend on carrying out operations and activities on the land comprised in the licence or lease.

(2) The work program supporting an application for an exploration licence or assessment lease may be prepared in either of 2 formats.

(3) Under 1 format, it may consist of a fixed agenda describing in detail the nature and extent of operations to be carried on under the licence or lease during the whole of its term.

(4) Under the other format (the 2-part format), it may be divided into 2 parts, namely—

(a) a fixed agenda describing in detail the nature and extent of operations to be carried on during an initial period (at least the first 2 years) of the term of the licence or lease, and

(b) a summary of intended operations during the remainder of the term.

(5) If prepared in the 2-part format, it is a condition of the petroleum title, if granted, that the holder of the title will provide progressive agendas in accordance with clause 6.

(6) The work program for a special prospecting authority is to be a fixed agenda describing in detail the nature and extent of operations to be carried on under the authority during the whole of its term.