Common use of Accounts and Allocations Clause in Contracts

Accounts and Allocations. The Contractor shall record separately in different accounts all transactions with respect to Oil Operations and shall continuously keep accounts, books and records, distinguishing in particular: · research expenses; · evaluation expenses according to discovery; · if necessary, according to Exploitation Perimeter: · development and transport expenses of the production; · current exploitation and transport expenses of the production; · abandonment expenses; · financial fees; · general and administrative expenses. The accounts, books and records of the Contractor shall be kept following the rules of the accounting schedule in effect in Senegal and the practices and methods in use in the international oil industry. In accordance with the provisions of Article 25.2 of the Contract, the accounts, books and records of the Contractor shall be kept in French and denominated in Dollars. Whenever it is necessary to convert into Dollars the expenses and receipts paid or received in any other currency, they shall be evaluated based on the exchange rate quoted on the exchange markets in Paris, according to the modalities established by mutual agreement. All profits or losses resulting from the exchange of currency at the time of the transactions covered by this Contract shall be debited or credited to the account of the Oil Costs.

Accounts and Allocations. The Contractor shall record separately in different accounts all transactions with respect to Oil Operations and shall continuously keep accounts, books and records, distinguishing in particular: · research expenses; expenses; · evaluation expenses according to discovery; discovery; · if necessary, according to Exploitation Perimeter: · development and transport expenses of the production; production; · current exploitation and transport expenses of the production; production; · abandonment expenses; expenses; · financial fees; fees; · general and administrative expenses. The accounts, books and records of the Contractor shall be kept following the rules of the accounting schedule in effect in Senegal and the practices and methods in use in the international oil industry. In accordance with the provisions of Article 25.2 of the Contract, the accounts, books and records of the Contractor shall be kept in French and denominated in Dollars. Whenever it is necessary to convert into Dollars the expenses and receipts paid or received in any other currency, they shall be evaluated based on the exchange rate quoted on the exchange markets in Paris, according to the modalities established by mutual agreement. All profits or losses resulting from the exchange of currency at the time of the transactions covered by this Contract shall be debited or credited to the account of the Oil Costs.

Accounts and Allocations. The Contractor shall record separately in different accounts all transactions with respect to Oil Operations and shall continuously keep accounts, books and records, records distinguishing in particular: · - research expenses; · expenses; - evaluation expenses according to discovery; · discovery; - if necessary, according to Exploitation Perimeter: · . development and transport expenses of the production; · production; . current exploitation and transport expenses of the production; · production; . abandonment expenses; · expenses; - financial fees; · fees; - general and administrative expenses. The accounts, books and records of the Contractor shall be kept following the rules of the accounting schedule in effect in Senegal and the practices and methods in use in the international oil industry. In accordance with the provisions of Article 25.2 of the Contract, the accounts, books and records of the Contractor shall be kept in French and denominated in Dollars. Whenever All times it is necessary to convert into Dollars the expenses and receipts paid or received in any other currency, they shall be evaluated based on the exchange rate quoted on the exchange markets in Paris, according to the modalities established by mutual agreement. All profits profit or losses loss resulting from the exchange of currency at the time of the transactions covered by this object of the present Contract shall be debited or credited to the account of the Oil Producer Costs.