PETROLEUM AND GEOTHERMAL ENERGY RESOURCES ACT 1967 - SECT 145
PETROLEUM AND GEOTHERMAL ENERGY RESOURCES ACT 1967 - SECT 145
145 . Ascertainment of value of petroleum or geothermal energy
For the purposes of
this Act the value at the well-head of any petroleum or geothermal energy is
such amount as is agreed between the permittee, holder of the drilling
reservation, lessee or licensee and the Minister, or in default of agreement
within such period as the Minister allows is such amount as is determined by
the Minister as being that value.
[Section 145 amended: No. 12 of 1990 s. 111; No.
78 of 1990 s. 7; No. 35 of 2007 s. 79.]