This is from the AIM filing statement for Matra Petroleum dated March 2006. Going by this, work can continue 6 month AFTER expiry of the license. This fits in with what Toreador is doing. Their license expired in March, and yet they are currently testing their well.

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The term of the Inke Concession is 35 years, expiring on 3 August 2030. Within the term there is a 4 year exploration period and the remainder is an exploitation period. The exploration period expired on 31 December 2005, although exploration activities may continue throughout 2006. The drilling of Blue Topaz-9 will complete the
Company’s exploration obligations under the Concession and a final report setting out the exploration activities undertaken on the Concession must be filed by 30 June 2006. The Company will then be entitled to apply for one or more Mining Plots within the Concession area by 31 December 2006.