The revised Minerals Programme for Petroleum incorporating the changes made by the Order will take effect from Wednesday, 1 February 2012.
From 1 February 2012, Priority in Time (PIT) applications for petroleum exploration permits will no longer be accepted. Any PIT applications received after 30 August 2011 will not be considered (in accordance with section 22(2) of the Crown Minerals Act 1991).
Story courtesy of Ministry of Economic Development