§ 14-38-1-6 — Permit issuance

(a) The commission may enter into written
contracts designating a person as the permittee of the state with the
exclusive right to prospect and explore not to exceed three (3) sections,
or an equivalent area, of the public land for the occurrence of
petroleum. A contract must contain the conditions prescribed by the
rules adopted by the commission under this chapter. A permit must be
for a period of not more than one (1) year in the discretion of the
commission. A permit shall be granted without cost, except:
(1) as provided in section 16 of this chapter; and
(2) that, if more than one (1) application for a permit is received
with respect to the same public land, the commission shall grant
the permit to the person offering the highest cash bonus.
(b) A permittee may, under a contract:
(1) enter in and upon the land; and
(2) prospect and explore the land to determine the occurrence of
petroleum.
[Pre-1995 Recodification Citation: 14-4-3-2.]

Legislative History

As added by P.L.1-1995, SEC.31.