194. The Minister shall grant a lease to any person who holds a licence to explore for petroleum, natural gas and underground reservoirs and who establishes the presence of an economically workable deposit or an economically operable underground reservoir, as the case may be, meets the requirements and pays the fee prescribed by regulation.
However, only one lease may be granted in respect of a given parcel of land.
1987, c. 64, s. 194; 1998, c. 24, s. 94; 2013, c. 16, s. 15.