Common use of Petroleum Titles Clause in Contracts

Petroleum Titles. (1) For the purposes of this Agreement and without limiting the operation of other subclauses, the application of the Petroleum Act and the regulations made thereunder in relation to Petroleum Titles is, and the rights and obligations of the holders from time to time of Petroleum Titles are, specifically modified during the continuance of this Agreement as follows: (a) section 41 of the Petroleum Act shall not apply to an application made during the Suspension Period under section 40 of the Petroleum Act for the renewal of a petroleum exploration permit; and (b) an application made under section 40 of the Petroleum Act during the Suspension Period for the renewal of a petroleum exploration permit must be in respect of all of the blocks in respect of which the permit is then in force unless the Petroleum Act Minister (acting with the concurrence of the Minister) otherwise consents to the application being made in respect of a lesser number of blocks; (c) an application made under section 40 of the Petroleum Act during the Suspension Period for the renewal of a petroleum exploration permit may not be made earlier than 6 calendar months before the date of expiration of the permit; and (d) in relation to section 97: (i) section 97(3) shall not apply: (A) during the Suspension Period in respect of a petroleum exploration permit; and (B) to a petroleum exploration permit that is renewed during the Suspension Period in respect of that renewed term; and (ii) without restricting a permittee's right to make applications in respect of a variation, suspension or exemption under section 97(1)(g), the permittee may, at any time during the first 9 months of the final year of the term of a petroleum exploration permit that has been renewed during the Suspension Period, make an application pursuant to section 97(1)(g) for: (A) a variation or suspension of the minimum work commitments relating to that renewed term of the petroleum exploration permit; or (B) an exemption from compliance with the minimum work commitments relating to that renewed term of the petroleum exploration permit, notwithstanding that at the time of making such application the permittee has not complied with or is unlikely to be able to comply with the relevant minimum work commitments. In such case the Petroleum Act Minister is (in addition to his or her powers under section 97(1)) empowered, if he or she (after consulting the Minister) considers it appropriate in all the circumstances, to vary or suspend the commitments or exempt the permittee from the commitments with such variation, suspension or exemption having, to the extent the Petroleum Act Minister considers appropriate, retrospective operation in relation to the non‑compliance or likely non‑compliance; and (e) in relation to a petroleum exploration permit to be renewed or renewed (as the case may be) during the Suspension Period: (i) in the determination of the minimum work commitments for any renewed term of the permit, the Petroleum Act Minister shall have regard to the permittee's obligations under clauses 5 and 9(1) of this Agreement; and (ii) in determining compliance with the minimum work commitments for such renewed term of the permit, the Petroleum Act Minister may credit appraisal work carried out on any gas discovery in the petroleum permit area of that permit or in an adjacent petroleum permit area of a petroleum exploration permit that is also a Petroleum Title if in each case the Petroleum Act Minister considers that such crediting is consistent with and facilitates the objects of the Agreement; and (f) the Petroleum Act Minister shall not (without the concurrence of the Minister) give his consent under section 98 of the Petroleum Act to an application for the surrender of all or some of the blocks in respect of which a petroleum exploration permit or petroleum drilling reservation is then in force; and (g) the rights of the Joint Venturers (or any of them) as the holder or holders of any Petroleum Title (including to apply for and be granted another Petroleum Title or otherwise in respect of any such other Petroleum Title) may only be assigned, mortgaged, charged, sublet or otherwise disposed of (including by transfer) in accordance with clause 33; and (h) the Petroleum Act Minister may only exercise his powers under and in accordance with section 99 of the Petroleum Act in respect of a Petroleum Title with the concurrence of the Minister. (2) The Minister (after consulting the Petroleum Act Minister) may, at any time after 31 March 2016, approve any petroleum exploration permit or petroleum drilling reservation held solely by any one or more of the Joint Venturers, the land the subject of which is wholly within the Canning Basin, and which is not then a Petroleum Title, as a Petroleum Title for the purposes of this Agreement and subject to such of the existing conditions of the title as the Petroleum Act Minister (with the concurrence of the Minister) determines but otherwise as from the date of Minister's approval subject to the provisions of this Agreement. However, the Minister may not approve a petroleum exploration permit or a drilling reservation as a Petroleum Title for the purposes of this Agreement unless the Minister is satisfied that: (a) the land the subject of the title is prospective for natural gas; and (b) such approval would more efficiently or satisfactorily implement or facilitate the objects of this Agreement. (3) The Joint Venturers may with the prior consent of the Minister (after consulting the Petroleum Act Minister) withdraw the whole (but not part only) of a Petroleum Title from this Agreement and upon such withdrawal (to be effective upon the date of the Minister's consent): (a) the title shall cease to be a Petroleum Title and to have the benefit of the rights and privileges conferred by, and be subject to the obligations and restrictions imposed by, this Agreement; and (b) any modification of the Petroleum Act made by this Agreement in relation to the title shall cease to apply; and (c) the title shall continue in force under and subject to the Petroleum Act for the balance of its then current term. In considering an application by the Joint Venturers pursuant to this subclause, the Minister shall consider (without limitation) whether the withdrawal of the Petroleum Title may prejudice or otherwise compromise the objects of this Agreement. (4) The Joint Venturers shall be responsible for obtaining the grant to them (or such of them as are the holders of the then existing relevant Petroleum Title) under the Petroleum Act of any petroleum production licences or retention leases (which upon grant will be Petroleum Titles) including if required for the purposes of the Domgas Project or the LNG Project, of any extensions or renewals of petroleum exploration permits or petroleum retention leases and extensions of any petroleum drilling reservations and the grant of such petroleum production licences or retention leases, extensions or renewals of petroleum exploration permits or petroleum retention leases or extensions of petroleum drilling reservations may not be sought as part of proposals submitted by the Joint Venturers under this Agreement. (5) The Joint Venturers shall lodge with the Petroleum Act Department in respect of all Petroleum Titles (a) such periodical reports and returns as may be required by, or prescribed, by the Petroleum Act or regulations made thereunder in respect of the Petroleum Titles (including any reports and returns required by administrative guidelines that by direction are applicable to the Petroleum Titles); and (b) reports on drilling operations and drill holes where the main purpose of the drilling was to discover or prove up natural gas reserves within the Title Areas in compliance with the Joint Venturers' obligations under clause 5; and (c) if requested by the Minister but not more frequently than annually, a report for consideration by the Minister which is a summary of the status of and prospects for gas discovery and reserves together with a list of any activities carried out during the year or since the period of the last report (whichever is greater) and, if requested by the Minister will provide further details and results of those activities in accordance with guidelines on reporting as specified in the Petroleum Act or applied to the Petroleum Titles from time to time, and the Joint Venturers acknowledge that any notifications and particulars provided to the Petroleum Act Department under section 44(1) of the Petroleum Act in relation to the land the subject of the Petroleum Titles may be provided by that department to the Minister.

Petroleum Titles. (1) For the purposes of this Agreement and without limiting the operation of other subclauses, the application of the Petroleum Act and the regulations made thereunder in relation to Petroleum Titles is, and the rights and obligations of the holders from time to time of Petroleum Titles are, specifically modified during the continuance of this Agreement as follows: (a) section 41 of the Petroleum Act shall not apply to an application made during the Suspension Period under section 40 of the Petroleum Act for the renewal of a petroleum exploration permit; and (b) an application made under section 40 of the Petroleum Act during the Suspension Period for the renewal of a petroleum exploration permit must be in respect of all of the blocks in respect of which the permit is then in force unless the Petroleum Act Minister (acting with the concurrence of the Minister) otherwise consents to the application being made in respect of a lesser number of blocks; (c) an application made under section 40 of the Petroleum Act during the Suspension Period for the renewal of a petroleum exploration permit may not be made earlier than 6 calendar months before the date of expiration of the permit; and (d) in relation to section 97: (i) section 97(3) shall not apply: (A) during the Suspension Period in respect of a petroleum exploration permit; and (B) to a petroleum exploration permit that is renewed during the Suspension Period in respect of that renewed term; and (ii) without restricting a permittee's right to make applications in respect of a variation, suspension or exemption under section 97(1)(g), the permittee may, at any time during the first 9 months of the final year of the term of a petroleum exploration permit that has been renewed during the Suspension Period, make an application pursuant to section 97(1)(g) for: (A) a variation or suspension of the minimum work commitments relating to that renewed term of the petroleum exploration permit; or (B) an exemption from compliance with the minimum work commitments relating to that renewed term of the petroleum exploration permit, notwithstanding that at the time of making such application the permittee has not complied with or is unlikely to be able to comply with the relevant minimum work commitments. In such case the Petroleum Act Minister is (in addition to his or her powers under section 97(1)) empowered, if he or she (after consulting the Minister) considers it appropriate in all the circumstances, to vary or suspend the commitments or exempt the permittee from the commitments with such variation, suspension or exemption having, to the extent the Petroleum Act Minister considers appropriate, retrospective operation in relation to the non‑compliance non-compliance or likely non‑compliancenon-compliance; and (e) in relation to a petroleum exploration permit to be renewed or renewed (as the case may be) during the Suspension Period: (i) in the determination of the minimum work commitments for any renewed term of the permit, the Petroleum Act Minister shall have regard to the permittee's obligations under clauses 5 and 9(1) of this Agreement; and (ii) in determining compliance with the minimum work commitments for such renewed term of the permit, the Petroleum Act Minister may credit appraisal work carried out on any gas discovery in the petroleum permit area of that permit or in an adjacent petroleum permit area of a petroleum exploration permit that is also a Petroleum Title if in each case the Petroleum Act Minister considers that such crediting is consistent with and facilitates the objects of the Agreement; and (f) the Petroleum Act Minister shall not (without the concurrence of the Minister) give his consent under section 98 of the Petroleum Act to an application for the surrender of all or some of the blocks in respect of which a petroleum exploration permit or petroleum drilling reservation is then in force; and (g) the rights of the Joint Venturers (or any of them) as the holder or holders of any Petroleum Title (including to apply for and be granted another Petroleum Title or otherwise in respect of any such other Petroleum Title) may only be assigned, mortgaged, charged, sublet or otherwise disposed of (including by transfer) in accordance with clause 33; and (h) the Petroleum Act Minister may only exercise his powers under and in accordance with section 99 of the Petroleum Act in respect of a Petroleum Title with the concurrence of the Minister. (2) The Minister (after consulting the Petroleum Act Minister) may, at any time after 31 March 2016, approve any petroleum exploration permit or petroleum drilling reservation held solely by any one or more of the Joint Venturers, the land the subject of which is wholly within the Canning Basin, and which is not then a Petroleum Title, as a Petroleum Title for the purposes of this Agreement and subject to such of the existing conditions of the title as the Petroleum Act Minister (with the concurrence of the Minister) determines but otherwise as from the date of Minister's approval subject to the provisions of this Agreement. However, the Minister may not approve a petroleum exploration permit or a drilling reservation as a Petroleum Title for the purposes of this Agreement unless the Minister is satisfied that: (a) the land the subject of the title is prospective for natural gas; and (b) such approval would more efficiently or satisfactorily implement or facilitate the objects of this Agreement. (3) The Joint Venturers may with the prior consent of the Minister (after consulting the Petroleum Act Minister) withdraw the whole (but not part only) of a Petroleum Title from this Agreement and upon such withdrawal (to be effective upon the date of the Minister's consent): (a) the title shall cease to be a Petroleum Title and to have the benefit of the rights and privileges conferred by, and be subject to the obligations and restrictions imposed by, this Agreement; and (b) any modification of the Petroleum Act made by this Agreement in relation to the title shall cease to apply; and (c) the title shall continue in force under and subject to the Petroleum Act for the balance of its then current term. In considering an application by the Joint Venturers pursuant to this subclause, the Minister shall consider (without limitation) whether the withdrawal of the Petroleum Title may prejudice or otherwise compromise the objects of this Agreement. (4) The Joint Venturers shall be responsible for obtaining the grant to them (or such of them as are the holders of the then existing relevant Petroleum Title) under the Petroleum Act of any petroleum production licences or retention leases (which upon grant will be Petroleum Titles) including if required for the purposes of the Domgas Project or the LNG Project, of any extensions or renewals of petroleum exploration permits or petroleum retention leases and extensions of any petroleum drilling reservations and the grant of such petroleum production licences or retention leases, extensions or renewals of petroleum exploration permits or petroleum retention leases or extensions of petroleum drilling reservations may not be sought as part of proposals submitted by the Joint Venturers under this Agreement. (5) The Joint Venturers shall lodge with the Petroleum Act Department in respect of all Petroleum Titles (a) such periodical reports and returns as may be required by, or prescribed, by the Petroleum Act or regulations made thereunder in respect of the Petroleum Titles (including any reports and returns required by administrative guidelines that by direction are applicable to the Petroleum Titles); and (b) reports on drilling operations and drill holes where the main purpose of the drilling was to discover or prove up natural gas reserves within the Title Areas in compliance with the Joint Venturers' obligations under clause 5; and (c) if requested by the Minister but not more frequently than annually, a report for consideration by the Minister which is a summary of the status of and prospects for gas discovery and reserves together with a list of any activities carried out during the year or since the period of the last report (whichever is greater) and, if requested by the Minister will provide further details and results of those activities in accordance with guidelines on reporting as specified in the Petroleum Act or applied to the Petroleum Titles from time to time, and the Joint Venturers acknowledge that any notifications and particulars provided to the Petroleum Act Department under section 44(1) of the Petroleum Act in relation to the land the subject of the Petroleum Titles may be provided by that department to the Minister.