214. The holder of such a licence who discovers brine in commercial quantities is entitled to obtain an operating lease on part of the land covered by licence the area of which shall be determined by regulation provided that:
(a) he applies for it in writing:
(b) he has complied with the conditions of his licence;
(c) the site, area and shape of the designated land comply with the regulations;
(d) he establishes in accordance with the regulations that his operations will be economically feasible and will not harm the development or exploitation of a discovery of petroleum or natural gas.