You will require this lease if you intend to hold the exclusive right to prospect for petroleum and to assess any petroleum deposit over a specified area of land in NSW. A lease allows you to maintain a title over a potential area, without having to commit to further exploration. You can however, continue prospecting operations and to recover petroleum in the course of assessing the viability of commercial mining.
This lease may be appropriate either where:
- a resource has been proven and the feasibility of production has been established but the project is not currently viable, although it has potential to be developed in the foreseeable future
- there are areas of potential which are natural extensions to existing operations or projects, but it is currently impractical to apply for a production lease.
Please be aware that the area comprised in the lease must be not more than 4 blocks.
Please consult the Contact Officer for more information.