Queensland Numbered Acts

PETROLEUM AND OTHER LEGISLATION AMENDMENT ACT 2005 No. 3 - SECT 80

Section 591A--

omit, insert--

'(1) This section applies if--

(a) under section 73 or 152, 32 a petroleum tenure holder carries out production testing in relation to a particular petroleum well (the relevant well); or

(b) under a 1923 Act petroleum tenure, the tenure holder carries out production testing in relation to a particular petroleum well (also the relevant well).

'(2) If--

(a) petroleum produced from the relevant well is coal seam gas or natural gas; and

(b) the gas is flared or vented; and

(c) the gas is, within the period provided for under subsection (3) produced as part of the production testing;

petroleum royalty is only payable on the amount of the petroleum flared or vented during the period that is more than 3 000 000 m3.

'(3) For subsection (2), the period is the shorter of the following--

(a) the sum of all periods after the 2004 Act start day for which, under section 73(2) or 152(2), or for a 1923 Act petroleum tenure, under the tenure, the production testing from the relevant well may be carried out;

(b) 13 months from the later of the following--

(i) the start of the production testing from the relevant well;

(ii) if the production testing had started before the 2004 Act start day, the 2004 Act start day.'.