PART IIOption (continued)
125 (1) Where a significant discovery has been declared on land in respect of which an exploration agreement has been entered into or a special renewal permit has been granted, the Minister may, at any time thereafter, order the drilling thereon of a well in relation to that significant discovery, subject to such specifications as may be included in the order, to commence within one year after the making of the order or such longer period specified in the order as the Minister considers appropriate in the circumstances.
(2) Where an order has been made under subsection (1), the Minister shall not make any further order for the drilling of a well in relation to the same significant discovery as long as work is actively progressing in compliance with the order that has been made.
126 (1) Where any person holding an exploration agreement or a special renewal permit does not comply with any term or condition therein, or with any order made under section 125, the Minister may give notice in writing to that person directing him to comply with the term, condition or order within 90 days of the date of the notice.
(2) Where a person notified under subsection (1) fails to comply with the notice within the 90-day period specified therein, the Minister may cancel the exploration agreement or special renewal permit or suspend it for any period on any conditions he considers appropriate in the circumstances.
127 No disposition of or other dealing in any land in respect of which Petro-Canada Limited has the rights granted by section 33 or 121 is vitiated by reason only of
(a) any failure to give Petro-Canada Limited any notice required by or under those sections; or
(b) an erroneous determination of any Canadian participation rate under these Regulations.
- 1991, c. 10, s. 19
- Date modified: