Common use of Assignment and Assumption of Rights Clause in Contracts

Assignment and Assumption of Rights. 4.1 Upon Ridgewood’s participation pursuant to the terms and conditions set forth herein and upon the Parties drilling the Test Well or its substitute, reaching Contract Depth, Ridgewood will have earned under the Agreement and shall receive from Newfield an assignment of an undivided 40% working interest in the Contract Area, in the form attached hereto as Exhibit C.

Assignment and Assumption of Rights. 4.1 5.1 Upon Ridgewood’s participation pursuant to the terms and conditions set forth herein and upon the Parties drilling the Test Well or its substitute, reaching Contract Depth, Ridgewood will have earned under the Agreement and shall receive from Newfield an assignment of an undivided 4025% working interest in the Contract Area, in the form attached hereto as Exhibit C..