Queensland Consolidated Acts Queensland Consolidated Acts(1) On the giving of the negotiation notice, the 1923 Act petroleum tenure holder and the eligible claimant (the parties) must use all reasonable endeavours to negotiate a conduct and compensation agreement or a deferral agreement (a relevant agreement).
(2) The period of the negotiations—
(a) must be at least for the period provided for under section 79UA (the minimum negotiation period); but
(b) may continue for as long as the parties wish.
(3) If, during the minimum negotiation period, the parties enter into a relevant agreement, the 1923 Act petroleum tenure holder can not enter the relevant land to carry out advanced activities for the tenure until the period ends.
(4) Subsection (3) applies despite the terms of the agreement.