Key Points:
Operational, statutory and commercial issues all need to
be considered in making agreements for overlapping
tenements
Agreements for overlapping tenements require technical,
operational and commercial terms to fit within the applicable
legislative regime. While the critical element of overlapping
tenement agreements will be to discuss the operational interplay
between the holders of the overlapping tenements, you also must
ensure that all of the contractual terms meet the parties'
statutory requirements and commercial needs. Standard contractual
boilerplate clauses may not necessarily work in these types of
agreements.
In Queensland, neither co-development agreements nor
co-ordination arrangements under the statutory overlapping tenure
regime (which has been in place for a number of years), have yet
been meaningfully tested in court. Parties have nonetheless sought
to include a number of terms into overlapping tenement agreements
seeking to achieve
