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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.]