(a) Operators of all wells, not otherwise required to demonstrate financial responsibility through bonding or otherwise in accordance with the provisions of article six of this chapter, shall, no later than July 1, 1993, demonstrate financial responsibility in accordance with the methods and in the amounts prescribed by this article.
(b) If the operator demonstrates to the satisfaction of the director that an unjust hardship to an operator will occur as a result of the financial responsibility requirements of this article:
(1) The director may suspend such financial responsibility requirements to a date no later than July 1, 1995; or