Frontier Lands Petroleum Royalty Regulations

11 (1) Each interest holder of a production licence in relation to a project shall file with the Minister, in the prescribed form,

• (a) a pre-project commencement cost statement for that interest in the month of the project commencement in respect of allowed capital costs and allowed operating costs for that interest incurred prior to the month of the project commencement; and

• (b) a royalty return for that interest for the month of the project commencement and for every month after that whether a royalty is payable for that month or not.

(2) The interest holder shall file the pre-project commencement cost statement and the royalty return not later than the last day of the second month after the months referred to in paragraphs (1)(a) and (b).