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Canada Oil and Gas Operations Act

Version of section 47 from 2002-12-31 to 2010-07-30:

The following provision is not in force.

Marginal note:How percentages of interests to be determined

  •  (1) The percentages of interests referred to in subsections 39(1), 41(2), 42(2) and 44(2) shall be determined

    • (a) with respect to royalty interests, on a prorated area basis; and

    • (b) with respect to working interests, on the basis of tract participations shown in the unit agreement.

  • Marginal note:Owner deemed to be royalty owner on a prorated area basis

    (2) Where a working interest in a unit tract is held as an incident of the ownership of a fee simple estate in oil or gas, the owner who holds that working interest shall, for the purposes of subsection (1), be deemed to be a royalty owner in respect of the tract on a prorated area basis under paragraph (1)(a).

  • R.S., c. O-4, s. 36
  • 1976-77, c. 55, s. 5

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