Permits the leasing of acquired lands which are incorporated into and are a part of the city of Corpus Christi, Texas, or the city of Port Hueneme, California, for oil or gas exploration and extraction. Requires the Department of the Interior, prior to any such leasing, to do a detailed reevaluation to determine if the lands are within a known geologic structure. Provides that such lands shall be available for such leasing as if they were not in an incorporated city, except that no such leasing activity shall proceed without the permission of the appropriate city.