Common use of ACQUISITION, MAINTENANCE OR TRANSFER OF INTEREST Clause in Contracts

ACQUISITION, MAINTENANCE OR TRANSFER OF INTEREST. A. Surrender of Leases: The Leases covered by this Agreement, insofar as they embrace acreage in the Contract Area, shall not be surrendered in whole or in part unless all parties consent to the surrender. However, should any party desire to surrender its interest in any lease or in any portion of a lease, the party shall give written notice of the proposed surrender to all parties, and the parties to whom the notice is delivered shall have thirty (30) days after delivery of the notice within which to notify the party proposing the surrender whether they elect to consent to the surrender. Failure of a party to whom a notice is delivered to reply within the thirty (30) day period shall constitute a consent to the surrender of the Leases described in the notice. If all parties do not agree or consent to the surrender, the party desiring to surrender shall assign, without express or implied warranty of title, all of its interest in the Lease, or portion of it, and any well, material, and equipment which may be located on it and any rights in production later secured, to the parties not consenting to the surrender. If the interest of the assigning party is or includes an Oil and Gas Interest, the assigning party shall execute and deliver to the party or parties not consenting to the surrender an oil and gas lease covering the Oil and Gas Interest for a term of one (1) year and so long thereafter as Oil and/or Gas is produced from the land covered by it, the lease to be on the form attached as Exhibit “B.” On the assignment or lease, the assigning party shall be relieved from all obligations later accruing, but not previously accrued, with respect to the interest assigned or leased and the operation of any well attributable thereto, and the assigning party shall have no further interest in the assigned or leased premises and its equipment and production other than the royalties retained in any lease made under the terms of this Article. The party assignee or lessee shall pay to the party assignor or lessor the reasonable salvage value of the latter’s interest in any well’s salvable materials and equipment attributable to the assigned or leased acreage. The value of all salvable materials and equipment shall be determined in accordance with the provisions of Exhibit “C,” less the estimated cost of salvaging and the estimated cost of plugging and abandoning and restoring the surface. If the value is less then the costs, then the party assignor or lessor shall pay to the party assignee or lessee the amount of the deficit. If the assignment or lease is in favor of more than one party, the interest shall be shared by those parties in the proportions that the interest of each bears to the total interest of all those parties. If the interest of the parties to whom the assignment is to be made varies according to depth, then the interest assigned shall similarly reflect those variances. Any assignment, lease or surrender made under this provision shall not reduce or change the assignor’s, lessor’s, or surrendering party’s interest as it was immediately before the assignment, lease, or surrender in the balance of the Contract Area; and the acreage assigned, leased, or surrendered, and subsequent operations on them, shall not later be subject to the terms and provisions of this Agreement, but shall be deemed subject to an Operating Agreement in the form of this Agreement.

ACQUISITION, MAINTENANCE OR TRANSFER OF INTEREST. A. Surrender of Leases: The Leases leases covered by this Agreementagreement, insofar as they embrace acreage in the Contract Area, shall not be surrendered in whole or in part unless all parties consent to the surrenderthereto. However, should any party desire to surrender its interest in any lease Lease or in any portion of a leasethereof, the such party shall give written notice of the proposed surrender to all parties, and the parties to whom the such notice is delivered shall have thirty (30) days after delivery deliver of the notice within which to notify the party proposing the surrender whether they elect to consent to the surrenderthereto. Failure of a party to whom a such notice is delivered to reply within the thirty (said 30) -day period shall constitute a consent to the surrender of the Leases described in the notice. If all parties do not agree or consent to the surrenderthereto, the party desiring to surrender shall assign, without express or implied warranty of title, all of its interest in the such Lease, or portion of itthereof, and any well, material, material and equipment which may be located on it thereon and any rights in production later thereafter secured, to the parties not consenting to the such surrender. If the interest of the assigning party is or includes an Oil and Gas Interest, the assigning party shall execute and deliver to the party or parties not consenting to the such surrender an oil and gas lease Lease covering the such Oil and Gas Interest for a term of one (1) year and so long thereafter as Oil and/or Gas is produced from the land covered by itthereby, the such lease to be on the form attached hereto as Exhibit “B.” On the "B". Upon such assignment or lease, the assigning party shall be relieved from all obligations later thereafter accruing, but not previously theretofore accrued, with respect to the interest assigned or leased and the operation of any well attributable thereto, and the assigning party shall have no not further interest in the assigned or leased premises and its equipment and production other than the royalties retained in any lease made under the terms of this Article. The party assignee or lessee shall pay to the party assignor or lessor the reasonable salvage value of the latter’s 's interest in any well’s salvable materials and equipment attributable to the assigned or leased acreage. The value of all salvable materials and equipment shall be determined in accordance with the provisions of Exhibit “"C,” ", less the estimated cost of salvaging and the estimated cost of plugging and abandoning and restoring the surface. If the such value is less then the than such costs, then the party assignor or lessor shall pay to the party assignee or lessee the amount of the such deficit. If the assignment or lease is in favor of more than one party, the interest shall be shared by those such parties in the proportions that the interest of each bears to the total interest of all those such parties. If the interest of the parties to whom the assignment is to be made varies according to depth, then the interest assigned shall similarly reflect those such variances. Any assignment, lease or surrender made under this provision shall not reduce or change the assignor’s's, lessor’s, 's or surrendering party’s 's interest as it was immediately before the assignment, lease, lease or surrender in the balance of the Contract Area; and the acreage assigned, leased, leased or surrendered, and subsequent operations on themthereon, shall not later thereafter be subject to the terms and provisions of this Agreement, agreement but shall be deemed to be subject to an Operating Agreement in the form of this Agreement.agreement. A.A.P.L. FORM 610 - MODEL FORM OPERATING AGREEMENT – 1989

ACQUISITION, MAINTENANCE OR TRANSFER OF INTEREST. A. Surrender of Leases: SURRENDER OF LEASES The Leases covered by this Agreement, insofar as they embrace acreage in the Contract Area, shall not be surrendered in whole or in part unless all parties consent to the surrenderthereto. However, should any party desire to surrender its interest interests in any lease or in Lease of any portion of a leasethereof, the such party shall give written notice of the proposed surrender to all parties, and the parties to whom the such notice is delivered shall have thirty (30) days after delivery of the notice within which to notify the party proposing the surrender whether they elect to consent to the surrenderthereto. Failure of a party to whom a such notice is delivered to reply within the thirty (said 30) -day period shall constitute a consent to the surrender of the Leases described in the notice. If all parties do not agree or consent to the surrenderthereto, the party desiring to surrender shall assign, without express or implied warranty of title, all of its interest in the such Lease, or portion of itthereof, and any well, material, material and equipment which may be located on it thereon and any rights in production later thereafter secured, to the parties not consenting to the such surrender. If the interest of the assigning party is or includes an Oil and Gas Interest, the assigning party shall execute and deliver to the party or parties not consenting to the surrender an oil and gas lease covering the Oil and Gas Interest for a term of one (1) year and so long thereafter as Oil and/or Gas is produced from the land covered by it, the lease to be on the form attached as Exhibit “B.” On the assignment or leaseUpon such assignment, the assigning party shall be relieved from all obligations later thereafter accruing, but not previously theretofore accrued, with respect to the interest assigned or leased and the operation of any well attributable thereto, and the assigning party shall have no further interest in the assigned or leased premises and its equipment and production other than the royalties retained in any lease made under the terms of this Articleproduction. The party assignee or lessee shall pay to the party assignor or lessor the reasonable salvage value of the latter’s interest in any well’s xxxxx’ salvable materials and equipment attributable to the assigned or leased acreage. The value of all salvable materials and equipment shall be determined in accordance with the provisions of Exhibit “C,” B”, less the estimated cost of salvaging and the estimated cost of plugging and abandoning and restoring the surface. If the such value is less then the than such costs, then the party assignor or lessor shall pay to the party assignee or lessee the amount of the such deficit. If the assignment or lease is in favor of more than one party, the interest shall be shared by those such parties in the proportions that the interest of each bears to the total interest of all those such parties. If the interest of the parties to whom the assignment is to be made varies according to depth, then the interest assigned shall similarly reflect those such variances. Any assignment, lease assignment or surrender made under this provision shall not reduce or change the assignor’s, lessor’s, ’s or surrendering party’s interest as it was immediately before the assignment, lease, assignment or surrender in the balance of the Contract Area; , and the acreage assigned, leased, assigned or surrendered, and subsequent operations on themthereon, shall not later be thereafter by subject to the terms and provisions of this Agreement, the agreement but shall be deemed subject to an Operating Agreement in the form of this Agreement.

ACQUISITION, MAINTENANCE OR TRANSFER OF INTEREST. A. Surrender of Leases: The Leases covered by this Agreementagreement, insofar as they embrace acreage in the Contract Area, shall not be surrendered in whole or in part unless all parties consent to the surrender. However, should any party Party desire to surrender its interest in any lease or in any portion of a lease, the party Party shall give written notice of the proposed surrender to all parties, and the parties to whom the notice is delivered shall have thirty (30) days after delivery of the notice within which to notify the party Party proposing the surrender whether they elect to consent to the surrender. Failure of a party Party to whom a notice is delivered to reply within the thirty (30) day period shall constitute a consent to the surrender of the Leases described in the notice. If all parties do not agree or consent to the surrender, the party Party desiring to surrender shall assign, without express or implied warranty of title, all of its interest in the Lease, or portion of it, and any well, material, and equipment which may be located on it and any rights in production later secured, to the parties not consenting to the surrender. If the interest of the assigning party Party is or includes an Oil and Gas Interest, the assigning party Party shall execute and deliver to the party Party or parties not consenting to the surrender an oil and gas lease covering the Oil and Gas Interest for a term of one (1) year and so long thereafter as Oil and/or Gas is produced from the land covered by it, the lease to be on the form attached as Exhibit “B.” On the assignment or lease, the assigning party Party shall be relieved from all obligations later accruing, but not previously accrued, with respect to the interest assigned or leased and the operation of any well attributable thereto, and the assigning party Party shall have no further interest in the assigned or leased premises and its equipment and production other than the royalties retained in any lease made under the terms of this Article. The party Party assignee or lessee shall pay to the party Party assignor or lessor the reasonable salvage value of the latter’s interest in any well’s salvable materials and equipment attributable to the assigned or leased acreage. The value of all salvable materials and equipment shall be determined in accordance with the provisions of Exhibit “C,” less the estimated cost of salvaging and the estimated cost of plugging and abandoning and restoring the surface. If the value is less then the costs, then the party Party assignor or lessor shall pay to the party Party assignee or lessee the amount of the deficit. If the assignment or lease is in favor of more than one partyParty, the interest shall be shared by those parties in the proportions that the interest of each bears to the total interest of all those parties. If the interest of the parties to whom the assignment is to be made varies according to depth, then the interest assigned shall similarly reflect those variances. Any assignment, lease or surrender made under this provision shall not reduce or change the assignor’s, lessor’s, or surrendering partyParty’s interest as it was immediately before the assignment, lease, or surrender in the balance of the Contract Area; and the acreage assigned, leased, or surrendered, and subsequent operations on them, shall not later be subject to the terms and provisions of this Agreementagreement, but shall be deemed subject to an Operating Agreement in the form of this Agreementagreement.

ACQUISITION, MAINTENANCE OR TRANSFER OF INTEREST. A. Surrender of Leases: The Leases covered by this Agreementagreement, insofar as they embrace acreage in the Contract Area, shall not be surrendered in whole or in part unless all parties consent to the surrenderthereto. However, should any party desire to surrender its interest in any lease Lease or in any portion of a leasethereof, the such party shall give written notice of the proposed surrender to all parties, and the parties to whom the such notice is delivered shall have thirty (30) days after delivery of the notice within which to notify the party proposing the surrender whether they elect to consent to the surrenderthereto. Failure of a party to whom a such notice is delivered to reply within the thirty (said 30) -day period shall constitute a consent to the surrender of the Leases described in the notice. If all parties do not agree or consent to the surrenderthereto, the party desiring to surrender shall assign, without express or implied warranty of title, all of its interest in the such Lease, or portion of itthereof, and any well, material, material and equipment which may be located on it thereon and any rights in production later thereafter secured, to the parties not consenting to the such surrender. If the interest of the assigning party is or includes an Oil and Gas Interest, the assigning party shall execute and deliver to the party or parties not consenting to the such surrender an oil and gas lease covering the such Oil and Gas Interest for a term of one (1) year and so long thereafter as Oil and/or Gas is produced from the land covered by itthereby, the such lease to be on the form attached hereto as Exhibit “B.” On the B”. Upon such assignment or lease, the assigning party shall be relieved from all obligations later thereafter accruing, but not previously theretofore accrued, with respect to the interest assigned or leased and the operation of any well attributable thereto, and the assigning party shall have no further interest in the assigned or leased premises and its equipment and production other than the royalties retained in any lease made under the terms of this Article. The party assignee or lessee shall pay to the party assignor or lessor the reasonable salvage value of the latter’s interest in any well’s salvable materials and equipment attributable to the assigned or leased acreage. The value of all salvable materials and equipment shall be determined in accordance with the provisions of Exhibit “C,” ”, less the estimated cost of salvaging and the estimated cost of plugging and abandoning and restoring the surface. If the such value is less then the than such costs, then the party assignor or lessor shall pay to the party assignee or lessee the amount of the such deficit. If the assignment or lease is in favor of more than one party, the interest shall be shared by those such parties in the proportions that the interest of each bears to the total interest of all those such parties. If the interest of the parties to whom the assignment is to be made varies according to depth, then the interest assigned shall similarly reflect those such variances. Any assignment, lease or surrender made under this provision shall not reduce or change the assignor’s, lessor’s, ’s or surrendering party’s interest as it was immediately before the assignment, lease, lease or surrender in the balance of the Contract Area; and the acreage assigned, leased, leased or surrendered, and subsequent operations on themthereon, shall not later thereafter be subject to the terms and provisions of this Agreement, agreement but shall be deemed subject to an Operating Agreement in the form of this Agreementagreement.

ACQUISITION, MAINTENANCE OR TRANSFER OF INTEREST. A. Surrender of Leases: The Leases covered by this Agreementagreement, insofar as they embrace acreage in the Contract Area, shall not be surrendered in whole or in part unless all parties consent to the surrenderthereto. However, should any party desire to surrender its interest in any lease Lease or in any portion of a lease, the party thereof; such parry shall give written notice of the proposed surrender to all parties, and the parties to whom the such notice is delivered shall have thirty (30) days after delivery of the notice within which to notify the party proposing the surrender whether they elect to consent to the surrenderthereto. Failure of a party to whom a such notice is delivered to reply within the thirty (said 30) -day period shall constitute a consent to the surrender of the Leases described in the notice. If all parties do not agree or consent to the surrenderthereto, the party desiring to surrender shall assign, without express or implied warranty of title, all of its interest in the such Lease, or portion of itthereof, and any well, material, material and equipment which may be located on it thereon and any rights in production later thereafter secured, to the parties not consenting to the such surrender. If the interest of the assigning party is or includes an Oil and Gas Interest, the assigning party parry shall execute and deliver to the party or parties not consenting to the such surrender an oil and gas lease covering the such Oil and Gas Interest for a term of one (1) year and so long thereafter as Oil and/or Gas is produced from the land covered by itthereby, the such lease to be on the form attached hereto as Exhibit “B.” On the Upon such assignment or lease, the assigning party shall be relieved from all obligations later thereafter accruing, but not previously theretofore accrued, with respect to the interest assigned or leased and the operation of any well attributable thereto, and the assigning party shall have no further interest in the assigned or leased premises and its equipment and production other than the royalties retained in any lease made under the terms arms of this Article. The party assignee or lessee shall pay to the party assignor or lessor the reasonable salvage value of the latter’s thee tatter's interest in any well’s 's salvable materials and equipment attributable to the assigned or leased acreage. The value of all salvable materials and equipment shall be determined in accordance with the provisions of Exhibit “C,” less the estimated cost of salvaging and the estimated cost of plugging and abandoning and restoring the surface. If the value is less then the costs, then the party assignor or lessor shall pay to the party assignee or lessee the amount of the deficit. If the assignment or lease is in favor of more than one party, the interest shall be shared by those such parties in the proportions that the interest of each bears to the total interest of all those such parties. If the interest of the parties to whom the assignment is to be made varies according to depth, then the interest assigned shall similarly reflect those such variances. Any assignment, lease or surrender made under this provision shall not reduce or change the assignor’s, lessor’s, or surrendering party’s interest as it was immediately before the assignment, lease, or surrender in the balance of the Contract Area; and the acreage assigned, leased, or surrendered, and subsequent operations on them, shall not later be subject to the terms and provisions of this Agreement, but shall be deemed subject to an Operating Agreement in the form of this Agreement.

ACQUISITION, MAINTENANCE OR TRANSFER OF INTEREST. A. Surrender of Leases: The Leases covered by this Agreementagreement, insofar as they embrace acreage in the Contract Area, shall not be surrendered in whole or in part unless all parties consent to the surrenderthereto. However, should any party desire to surrender its interest in any lease Lease or in any portion of a leasethereof, the such party shall give written notice of the proposed surrender to all parties, and the parties to whom the such notice is delivered shall have thirty (30) days after delivery of the notice within which to notify the party proposing the surrender whether they elect to consent to the surrenderthereto. Failure of a party to whom a such notice is delivered to reply within the thirty (said 30) -day period shall constitute a consent to the surrender of the Leases described in the notice. If all parties do not agree or consent to the surrenderthereto, the party desiring to surrender shall assign, without express or implied warranty of title, all of its interest in the such Lease, or portion of itthereof, and any well, material, material and equipment which may be located on it thereon and any rights in production later thereafter secured, to the parties not consenting to the such surrender. If the interest of the assigning party is or includes an Oil and Gas Interest, the assigning party shall execute and deliver to the party or parties not consenting to the such surrender an oil and gas lease covering the such Oil and Gas Interest for a term of one (1) year and so long thereafter as Oil and/or Gas is produced from the land covered by itthereby, the such lease to be on the form attached hereto as Exhibit “B.” On the Upon such assignment or lease, the assigning party shall be relieved from all obligations later thereafter accruing, but not previously theretofore accrued, with respect to the interest assigned or leased and the operation of any well attributable thereto, and the assigning party shall have no further interest in the assigned or leased premises and its equipment and production other than the royalties retained in any lease made under the terms of this Article. The party assignee or lessee shall pay to the party assignor or lessor the reasonable salvage value of the latter’s interest in any well’s salvable materials and equipment attributable to the assigned or leased acreage. The value of all salvable materials and equipment shall be determined in accordance with the provisions of Exhibit “C,” less the estimated cost of salvaging and the estimated cost of plugging and abandoning and restoring the surface. If the such value is less then the than such costs, then the party assignor or lessor shall pay to the party assignee or lessee the amount of the such deficit. If the assignment or lease is in favor of more than one party, the interest shall be shared by those such parties in the proportions that the interest of each bears to the total interest of all those such parties. If the interest of the parties to whom the assignment is to be made varies according to depth, then the interest assigned shall similarly reflect those such variances. Any assignment, lease or surrender made under this provision shall not reduce or change the assignor’s, lessor’s, ’s or surrendering party’s interest as it was immediately before the assignment, lease, lease or surrender in the balance of the Contract Area; and the acreage assigned, leased, leased or surrendered, and subsequent operations on themthereon, shall not later thereafter be subject to the terms and provisions of this Agreement, agreement but shall be deemed subject to an Operating Agreement in the form of this Agreementagreement.

ACQUISITION, MAINTENANCE OR TRANSFER OF INTEREST. A. Surrender of Leases: The Leases covered by this Agreement, insofar as they embrace acreage in the Contract Area, shall not be surrendered in whole or in part unless all parties Parties consent to the surrenderit. However, should any party Party desire to surrender its interest in any lease Lease or in any portion of a leaseLease, the party Party shall give written notice of the proposed surrender to all partiesother Parties, and the parties Parties to whom the notice is delivered shall have thirty (30) days after delivery of the notice within which to notify the party Party proposing the surrender whether they elect to consent to the surrender. Failure The failure of a party Party to whom a notice is delivered to reply within the thirty (30) -day period shall be deemed to constitute a consent to the surrender of the Leases Lease(s) described in the notice. If all parties Parties do not agree or consent to the surrender, the party Party desiring to surrender shall assign, without warranty of title express or implied warranty of titleimplied, all of its interest in the Lease, or portion of itthe Lease, and any well, material, and equipment which may be located on it and any rights in production later secured, after the effective date of the assignment to the parties Parties not consenting to the surrender. If the interest of the assigning party Party is or includes an Oil and Gas Interest, the assigning party Party shall execute and deliver to the party Party or parties Parties not consenting to the surrender an oil and gas lease covering the Oil and Gas Interest for a term of one (1) year and so long thereafter as Oil and/or Gas is produced from the land covered by itthat lease, the which lease is to be on the form attached as Exhibit “B.” On the assignment or lease, the assigning party Party shall be relieved from all obligations later accruing, accruing after (but not previously accruedbefore) the effective date of the assignment or lease, with respect to the interest assigned or leased and the operation of any well attributable theretowell, and the assigning party Party shall have no further interest in the assigned or leased premises and its equipment and production other than the royalties retained in any lease made under the terms of this Article. The party Party that is the assignee or lessee shall pay to the party Party that is the assignor or lessor the reasonable salvage value of the latter’s interest in any well’s salvable materials and equipment attributable to the assigned or leased acreage. The value of all salvable materials and equipment shall be determined in accordance with the provisions of Exhibit “C,” less the estimated cost of salvaging and the estimated cost of plugging and abandoning and restoring the surface. If the value is less then the than those costs, then the party Party that is the assignor or lessor shall pay to the party Party that is the assignee or lessee the amount of the deficit. If the assignment or lease is in favor of more than one partyParty, the interest shall be shared by those parties Parties in the proportions that the interest of each bears to the total interest of all those partiesthe Parties. If the interest of the parties Parties to whom the assignment is to be made varies according to depth, then the interest assigned shall similarly reflect those variances. Any assignment, lease lease, or surrender made under this provision shall not reduce or change the assignor’s, lessor’s, or surrendering partyParty’s interest as it was immediately before the assignment, lease, or surrender in the balance of the Contract Area; and and, the acreage assigned, leased, or surrendered, and subsequent operations on themthe assigned, leased, or surrendered Lease shall not later no longer be subject to the terms and provisions of this Agreement, Agreement but shall be deemed subject to an Operating Agreement in the form of this Agreement.

ACQUISITION, MAINTENANCE OR TRANSFER OF INTEREST. A. Surrender of Leases: The Leases covered by this Agreementagreement, insofar as they embrace acreage in the Contract Area, shall not be surrendered in whole or in part unless all parties consent to the surrenderthereto. However, should any party desire to surrender its interest in any lease Lease or in any portion of a leasethereof, the such party shall give written notice of the proposed surrender to all parties, and the parties to whom the such notice is delivered shall have thirty (30) days after delivery of the notice within which to notify the party proposing the surrender whether they elect to consent to the surrenderthereto. Failure of a party to whom a such notice is delivered to reply within the thirty (said 30) -day period shall constitute a consent to the surrender of the Leases described in the notice. If all parties do not agree or consent to the surrenderthereto, the party desiring to surrender shall assign, without express or implied warranty of title, all of its interest in the such Lease, or portion of itthereof, and any well, material, material and equipment which may be located on it thereon and any rights in production later thereafter secured, to the parties not consenting to the such surrender. If the interest of the assigning party is or includes an Oil and Gas Interest, the assigning party shall execute and deliver to the party or parties not consenting to the such surrender an oil and gas lease covering the such Oil and Gas Interest for a term of one (1) year and so long thereafter as Oil and/or Gas is produced from the land covered by itthereby, the such lease to be on the form attached hereto as Exhibit “"B.” On the " Upon such assignment or lease, the assigning party shall be relieved from all obligations later thereafter accruing, but not previously theretofore accrued, with respect to the interest assigned or leased and the operation of any well attributable thereto, and the assigning party shall have no further interest in the assigned or leased premises and its equipment and production other than the royalties retained in any lease made under the terms of this Article. The party assignee or lessee shall pay to the party assignor or lessor the reasonable salvage value of the latter’s 's interest in any well’s 's salvable materials and equipment attributable to the assigned or leased acreage. The value of all salvable materials and equipment shall be determined in accordance with the provisions of Exhibit “"C,” " less the estimated cost of salvaging and the estimated cost of plugging and abandoning and restoring the surface. If the such value is less then the than such costs, then the party assignor or lessor shall pay to the party assignee or lessee the amount of the such deficit. If the assignment or lease is in favor of more than one party, the interest shall be shared by those such parties in the proportions that the interest of each bears to the total interest of all those such parties. If the interest of the parties to whom the assignment is to be made varies according to depth, then the interest assigned shall similarly reflect those such variances. Any assignment, lease or surrender made under this provision shall not reduce or change the assignor’s's, lessor’s, 's or surrendering party’s 's interest as it was immediately before the assignment, lease, lease or surrender in the balance of the Contract Area; and the acreage assigned, leased, leased or surrendered, and subsequent operations on themthereon, shall not later thereafter be subject to the terms and provisions of this Agreement, agreement but shall be deemed subject to an Operating Agreement in the form of this Agreementagreement.