H-4.2 - Petroleum Resources Act

Full text
34. The holder of several exploration licences may, in a report, apply to one or more of them all or part of the amounts spent in a territory subject to a licence that are in excess of the minimum amount to be spent on the work required to be performed there, provided
(1)  the holder so informs the Minister in writing; and
(2)  the territory in which the work was performed and the territory or territories to which the excess amounts are applied are located at least in part within a radius of 10 kilometres as measured from the perimeter of the territory subject to the licence in which the work was performed.
2016, c. 35, s. 232016, c. 35, s. 23.
Not in force
34. The holder of several exploration licences may, in a report, apply to one or more of them all or part of the amounts spent in a territory subject to a licence that are in excess of the minimum amount to be spent on the work required to be performed there, provided
(1)  the holder so informs the Minister in writing; and
(2)  the territory in which the work was performed and the territory or territories to which the excess amounts are applied are located at least in part within a radius of 10 kilometres as measured from the perimeter of the territory subject to the licence in which the work was performed.
2016, c. 35, s. 232016, c. 35, s. 23.