The commissioner will, in the commissioner's discretion, terminate a license whenever a licensee fails to comply with a provision of an oil and gas exploration license, applicable statutes, regulations, or stipulations and the failure continues for a period of 60 days following written notice by the commissioner to the licensee of failure to comply. Upon termination, a licensee's oil and gas exploration license security required by AS 38.05.132(c)(4)(B) is forfeited to the state.

(Eff. 9/22/95, Register 135)

Authority: AS 38.05.131, AS 38.05.132, AS 38.05.133