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PETROLEUM AND GEOTHERMAL ENERGY RESOURCES ACT 1967 - SECT 11A

PETROLEUM AND GEOTHERMAL ENERGY RESOURCES ACT 1967 - SECT 11A

11A .         Property rights in recovered petroleum and geothermal energy

        (1)         Subject to this Act and to any rights of other persons, on the recovery of any petroleum by a petroleum permittee, holder of a petroleum drilling reservation, petroleum lessee or petroleum licensee in the permit area, drilling reservation, lease area or licence area, the petroleum becomes the property of the petroleum permittee, holder of the petroleum drilling reservation, petroleum lessee or petroleum licensee.

        (2)         Subject to this Act and to any rights of other persons, on the recovery of any geothermal energy by a geothermal permittee, holder of a geothermal drilling reservation, geothermal lessee or geothermal licensee in the permit area, drilling reservation, lease area or licence area, the geothermal energy becomes the property of the geothermal permittee, holder of the geothermal drilling reservation, geothermal lessee or geothermal licensee.

        (3)         Nothing in subsection (2) operates to confer rights in relation to any water by means of which geothermal energy is transferred from geothermal energy resources for the purposes of its recovery.

        [Section 11A inserted: No. 35 of 2007 s. 12(1).]