(3) Such a requirement must be made in writing and must allow the holder of the lease at least 90 days within which to make the application. (4) If the holder of the lease fails to comply with a requirement made under this section, the Minister may cancel the lease. Division 1—Rights conferred by licence 46 Rights conferred by licence A production licence authorises the holder of the licence, subject to and in accordance with the conditions of the licence— (a) to carry out petroleum production in the licence area; and (b) to carry out petroleum exploration in the licence area; and (c) to do any thing in the licence area that is necessary for, or incidental to, those purposes. Division 2—Issue of licences to holders of permits or leases 47 Right to apply for licence The holder of an exploration permit or a retention lease may apply to the Minister for the grant of a production licence in respect of any part of the permit or lease area on which the holder has discovered petroleum or a reservoir. 48 Details to be supplied with application
(3) Such a requirement must be made in writing and must allow the holder of the lease at least 90 days within which to make the application. (4) If the holder of the lease fails to comply with a requirement made under this section, the Minister may cancel the lease. Division 1—Rights conferred by licence 46 Rights conferred by licence A production licence authorises the holder of the licence, subject to and in accordance with the conditions of the licence— (a) to carry out petroleum production in the licence area; and (b) to carry out petroleum exploration in the licence area; and (c) to do any thing in the licence area that is necessary for, or incidental to, those purposes. Division 2—Issue of licences to holders of permits or leases 47 Right to apply for licence The holder of an exploration permit or a retention lease may apply to the Minister for the grant of a production licence in respect of any part of the permit or lease area on which the holder has discovered petroleum or a reservoir. 48 Details to be supplied with application
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