Paragraph 4 Option to continue licenceI1

At any time not later than three months before the expiration of the initial term the Licensee paying the payments and royalties hereinafter provided and observing and performing the terms and conditions herein contained may give notice in writing to the Minister that he desires the licence to continue on the expiration of the initial term in respect of the area to which it then relates.

This licence shall upon the option conferred by this clause being duly exercised and subject to the provisions of clause 3 of this licence continue for a term of three years next after the expiration of the initial term (hereinafter called “the second term”) in respect of the area to which it then relates.