OT30050 - Capital Gains

Undeveloped Area. Appraisal Work.

TCGA92\s196(6) defines "appraisal work" as follows

• "Appraisal Work" in relation to any area means work carried out for the purpose of ascertaining the extent or characteristics of any oil bearing area the whole of part of which lies in the area concerned, or what the reserves of oil of any such oil bearing area are.