Canada Petroleum Resources Act (R.S.C. 1985, c. 36) (2nd Supp.).

The present Act lays down provisions relating to interests in petroleum in relation to frontier lands. The Act contains at the outset a definition clause relating to various terms employed therein such as, for example, "call for bids", "commercial discovery", "commercial discovery area", "Crown reserve lands", "former exploration agreement", “frontier lands”, “gas”, “holder”, “oil”, “petroleum”, "significant discovery area", etc. Section 22 establishes that an exploration licence confers to the frontier lands to which the licence applies a) the right to explore for, and the exclusive right to drill and test for, petroleum; b) the exclusive right to develop those frontier lands in order to produce petroleum. According to section 76 there shall be established a) an account held by the Minister of Natural Resources, to be known as the Environmental Studies Research Fund (NR); and b) an account held by the Minister of Indian Affairs and Northern Development, to be known as the Environmental Studies Research Fund (IAND). The text consists of 117 sections divided into 10 Parts as follows: General (I); General rules relating to issuance of interests (II); Exploration (III); Production (IV); Royalties (VI); Environment Studies Research Fund (VII); Transfers, assignments and registration (VIII); Administration and enforcement (IX); Transitional, consequential and commencement (X).