Section 97: Notice of Default Prior to Revocation.

1 Prior to the revocation of a petroleum prospecting licence or petroleum mining lease by the Minister under section 96 of this Act, the Commission shall—
a serve a notice of default on the applicable licensee or lessee stating the grounds upon which the Commission may recommend a revocation of the licence or lease to the Minister; and
b provide the licensee or lessee with a remediation period of not less than 60 days within which to remedy the default.

2 Where the Commission is satisfied with the remedy provided by the licensee or lessee under subsection (1) (b), the revocation process shall terminate.

3 Where, at expiration of the remediation period provided under subsection (1) (b), the default persist, the licence or lease may subject to the provisions of section 99 of this Act, be revoked in accordance with section 96 of this Act.

4 A notice of default shall be—
a sent by the Commission to the last known address of the licensee or lessee or its legal representative in Nigeria, or
b published in the Federal Government Gazette or on the website of the Commission, each of which shall constitute sufficient notice to the licensee or lessee of the notice of default.

5 Revocation of a petroleum prospecting licence or petroleum mining lease shall be without prejudice to any—
a liability or obligation which the licensee or lessee may have incurred in favour of the Commission, the Government or any third party; or
b claim, which the Commission, the Federal Government or any third party may make against the licensee or lessee.

6 A revocation decision shall be published in the Federal Government Gazette and the Commission shall amend relevant registers maintained by it to reflect the revocation.