Paragraph 3 Term of licenceI1

This licence unless sooner determined under any of the provisions hereof shall be and continue in force for the term of four years next after … 19… (hereinafter called “the initial term”); but if the terms and conditions hereof are duly performed and observed and in particular, if the work programme described in Schedule 4 to this licence has been duly performed, it may be continued for a further period of twenty years in respect of part of the relevant area in the manner hereinafter provided.

If the Minister sees fit and petroleum is then being got under this licence, it may be further continued for a period of ten years at the expiry of the said period of twenty years.