Commonwealth Consolidated Acts Commonwealth Consolidated Acts(a) the Joint Authority publishes a notice under subsection 178(1) inviting applications for the grant of a petroleum production licence over a block; and
(b) at the end of the period specified in the notice, only one application has been made under section 178 in relation to the block.
(2) The Joint Authority may:
(a) give the applicant a written notice (called an offer document ) telling the applicant that the Joint Authority is prepared to grant the applicant a petroleum production licence over that block; or
(b) by written notice given to the applicant, reject the application.
Note 1: Section 259 sets out additional requirements for offer documents (for example, a requirement that an offer document must contain a summary of conditions).
Note 2: If the applicant breaches a requirement under section 258 to provide further information, the Joint Authority may refuse to give the applicant an offer document--see subsection 258(3).
(3) In deciding whether to give the applicant an offer document, the Joint Authority:
(a) must have regard to the matters specified in subsection (4); and
(b) may have regard to any other matters the Joint Authority considers relevant.
(4) The matters are as follows:
(a) whether the technical advice and financial resources available to the applicant are sufficient to:
(i) carry out the operations and works that will be authorised by the licence; and
(ii) discharge the obligations that will be imposed under this Act, or a legislative instrument under this Act, in relation to the licence;
(b) the matters specified in section 695YB as they apply to the applicant;
(c) if the applicant is a body corporate--the matters specified in section 695YB as they apply to an officer of the body corporate;
(d) any other matters prescribed by the regulations.