Section 2201 - Duration of Leases and Permits(a) Leases (both preferential and bid) may be issued for a term of 20 years, with option of renewal for successive periods of 10 years upon such terms and conditions as may be prescribed by the commission at the time of renewal.(b) Prospecting permits are limited to a period not exceeding two years, extendable for a period of an additional one year at the discretion of the commission.Cal. Code Regs. Tit. 2, § 2201