PEL 267 clause in contract


My lawyer advised me that contract for the land purchase mentions PEL 267. On asking what exactly it implies, my lawyer advised that:

If Petroleum is discovered on your land, or nearby, you will have to move.

Or, there may be a right to build a refinery next door to you.

Now, does this thing should concern me, if at all?
Land developer is Landcom (a big name) in Hunter Valley region and other source mentioned that in Australia it is very common clause in the contract.