(1) On WA-315-P
renewal day the PGERA Minister is to grant a petroleum exploration permit to
the holder of permit WA-315-P in respect of the WA-315-P inshore blocks in the
vicinity of Seringapatam Reef.
(2) The permit can be
granted subject to such conditions as the PGERA Minister thinks fit and
specifies in the permit, including conditions of the kind described in the
Petroleum and Geothermal Energy Resources Act 1967 section 43(2).
(3) For the purposes
of the Petroleum and Geothermal Energy Resources Act 1967 and any other
written law, the permit granted under subsection (1) is to be taken to be
a petroleum exploration permit granted under Part III of that Act.