s. 18 240 penalty units. Default penalty: 10 penalty units. 17 Petroleum becomes the property of the person extracting it On a person extracting from any land in in accordance with this Act any petroleum that came to be on or below the surface of the land without human assistance, the person becomes the owner of that petroleum. _______________ Division 1—Rights conferred by permit 18 Rights conferred by permit An exploration permit authorises the holder of the permit, subject to and in accordance with the conditions of the permit— (a) to carry out petroleum exploration in the permit area; and (b) to do any thing in that area that is necessary for, or incidental to, that purpose. Division 2—Process for granting permits 19 Minister may invite tender applications for exploration permits (1) The Minister may invite applications for an exploration permit to explore a specified area. (2) The invitation must specify— (a) the chief factors that will be considered by the Minister in assessing applications; and (b) a date by which applications must be made.
240 penalty units. Default penalty: 10 penalty units. 17 Petroleum becomes the property of the person extracting it On a person extracting from any land in in accordance with this Act any petroleum that came to be on or below the surface of the land without human assistance, the person becomes the owner of that petroleum. _______________ Division 1—Rights conferred by permit 18 Rights conferred by permit s. 18 An exploration permit authorises the holder of the permit, subject to and in accordance with the conditions of the permit— (a) to carry out petroleum exploration in the permit area; and (b) to do any thing in that area that is necessary for, or incidental to, that purpose. Division 2—Process for granting permits 19 Minister may invite tender applications for exploration permits (1) The Minister may invite applications for an exploration permit to explore a specified area. (2) The invitation must specify— (a) the chief factors that will be considered by the Minister in assessing applications; and (b) a date by which applications must be made.