(1) A permittee whose
permit is in force in respect of a block that constitutes, or the blocks that
constitute, a location may, within the application period, make an application
to the Minister for the grant of a lease in respect of that block, or in
respect of one or more of those blocks, as the case may be.
(2) An application
under subsection (1) —
[(a) deleted]
(b)
shall be made in an approved manner; and
(c)
shall be accompanied by particulars of —
(i)
the proposals of the applicant for work and expenditure
in respect of the area comprised in the blocks specified in the application;
and
(ii)
the commercial viability of the recovery of petroleum
from the area comprised in the blocks specified in the application at the time
of the application, and particulars of the possible future commercial
viability of the recovery of petroleum from that area;
and
(d) may
set out any other matters that the applicant wishes to be considered; and
(e)
shall be accompanied by the prescribed fee.
(3) The Minister may,
at any time, by instrument in writing served on the applicant, require the
applicant to furnish, within the time specified in the instrument, further
information in writing in connection with the application.
(4) The application
period in respect of an application under this section by a permittee is
—
(a) the
period of 2 years after the date on which the block that constitutes the
location concerned was, or the blocks that constitute the location concerned
were, declared to be a location; or
(b) such
other period, not less than 2 years or more than 4 years after that date, as
the Minister, on application in writing by the permittee, served on the
Minister before the end of the first-mentioned period of 2 years, allows.
[Section 38A inserted: No. 12 of 1990 s. 174;
amended: No. 42 of 2010 s. 91.]