B.C. Reg. 178/2004, deposited April 22, 2004, pursuant to the PETROLEUM AND NATURAL GAS ACT [Section 72 (2)]. Order in Council 394/2004, approved and ordered April 21, 2004.

On the recommendation of the undersigned, the Lieutenant Governor, by and with the advice and consent of the Executive Council, orders that the Petroleum and Natural Gas Royalty and Freehold Production Tax Regulation, B.C. Reg. 495/92, is amended as follows:

1 Section 1 (1) is amended by adding the following definition:

"spud date", in relation to a well, means the date selected by the Oil and Gas Commission as the date on which the ground was first penetrated for the purposes of drilling the well; .

2 Section 6 (1) is amended in paragraph (a) of Item 1 by adding "in a well" after "well events".

3 Section 7 (7) (d) is amended

(a) in the first row of the table under the heading "Incremental Value $/Metre" in the portion of the table headed "West" by striking out "1500" and substituting "750", and

(b) in the first row of the table under the heading "Incremental Value $/Metre" in the portion of the table headed "East" by striking out "900" and substituting "450".

— R. NEUFELD, Minister of Energy and Mines; G. CAMPBELL, Presiding Member of the Executive Council.

Copyright © 2004: Queen's Printer, Victoria, British Columbia, Canada