RE: Can someone help?why don't you phone the company and ask them if they have the "right to renew" that exploration license. that should answer it for you.
Most agreements are for a period of years, so that the renewal process doesn't happen every year - very inefficient... so after 4 years, they apply for a renewal (for another 4 years), and as long as they have been good corporate citizens, and haven't polluted or done something they shouldn't have, the renewal will be approved....
but why don't you phone the company and check for yourself and get back to us on that.