1206.58—What must I do if ONRR finds that I have not properly determined value?

(a) If ONRR finds that you have not properly determined value, you must:

(1) Pay the difference, if any, between the royalty payments you made and those that are due, based upon the value ONRR establishes; and

(2) Pay interest on the difference computed under § 1218.54 of this chapter.

(b) If you are entitled to a credit due to overpayment on Indian leases, see § 1218.53 of this chapter. The credit will be without interest.

Code of Federal Regulations

[72 FR 71244, Dec. 17, 2007]