Report : APCL Farm out to TOTAL, page-95

The term for ROP was from Oct'11 to Oct '15 & they were reqd to drill a well, shoot 3D on that block.

Term for SOSP on the other hand runs till Dec 2017 & requires 1 contingent well.

A1 & A4 tenure was from Nov14 to Nov16.

All there in AfrPet's Annual report for 2015 (pg 29, table 1 License Summary).

As part of the permit award, a signatory bonus is to be paid to the govt for the Initial Research Period. After this ine can seek an extension termed as First Renewal & then Second renewals.

In Feb 2012 FAR paid USD5mil as surety bond to the govt for the start of its Second Renewal Period that ran for 2 years till 2014. They drilled Fan1 & SNE 1 that year & met their obligations.

These days in Oz we have the use it or loose it clause for companies sitting on permits for year & not developing a field. They can seek renewal/extensions to their permits/Licenses (ie RL).