: (1) If there is a possibility that the found petroleum may be of commercial importance, within ninety (90) days of notification of the discovery according to Section 16, the contractor shall submit a detailed description of the feasibility program and budget to the Department for approval to evaluate the commercial development of such petroleum found site. will submit. ………………
(2) The feasibility program or supplemental feasibility program should include digging or testing one or more wells and, if deemed appropriate, a study report on petroleum acquisition, purification, transportation, storage and market arrangements. The duration of such program will be for a reasonable period of time required to complete the feasibility work and may be extended if there is a valid reason.