Failure to file a statement of claim within the time provided in section 4 of this chapter does not cause a mineral interest to be extinguished if the owner of the mineral interest:

1. (1) was, at the time of the expiration of the period specified in section 4 of this chapter, the owner of ten (10) or more mineral interests in the county in which the mineral interest is located;
2. (2) made a diligent effort to preserve all the mineral interests that were not being used and, not more than ten (10) years before the expiration of the period specified in section 4 of this chapter, preserved other mineral interests in the county by filing statements of claim as required under this chapter;
3. (3) failed to preserve the mineral interest through inadvertence; and

4. (4) filed the statement of claim required under this chapter:

   1. (A) not more than sixty (60) days after publication of notice as specified in section 6 of this chapter; and

   2. (B) if a notice referred to in clause (A) is not published, not more than sixty (60) days after receiving actual knowledge that the mineral interest had lapsed.

      [Pre-2002 Recodification Citation: 32-5-11-5.]

As added by P.L.2-2002, SEC.8.