Common use of Confidentiality of Seismic Data Clause in Contracts

Confidentiality of Seismic Data. Except as provided below, each Party agrees to keep all seismic data obtained pursuant to Article 4.2 confidential for a period of seven (7) years from the date hereof. After the expiration of seven (7) years from the date hereof, any Party may sell the data it acquired pursuant to Article 4.2. Each Party owning an interest in such data shall receive its proportionate share of the proceeds of any such sale. Any data acquired from another Party pursuant to Article 4.1 shall forever be kept confidential by the Parties; provided, however, that the Party who originally contributed such data may share, sell or otherwise dispose of such data that does not pertain to a Prospect to a third party after the expiration of one (1) year from the date hereof, and the other Parties shall have no interest in the proceeds from such sale. Notwithstanding the foregoing, a Party may disclose seismic data to a prospective purchaser or farmee of such Party's interest, provided (i) such disclosure is limited to the Prospect under consideration for sale or farmout, (ii) the prospective purchaser or farmee must review such data in the affected Party's offices and may not copy such data, and (iii) such prospective purchaser or farmee must execute a confidentiality agreement to prevent further disclosure and unauthorized use of such data.

Confidentiality of Seismic Data. Except as provided below, each Party agrees to keep all seismic data obtained pursuant to Article 4.2 3.3 confidential for a period of seven five (75) years from the date hereof. After the expiration of seven five (75) years from the date hereof, hereof any Party may sell the data it acquired pursuant to Article 4.23.2. Each Party owning an interest in such data shall receive its proportionate share Proportionate Share of the proceeds of any such sale. Any data acquired from another Party pursuant to Article 4.1 3.1 shall forever be kept confidential by the Parties; provided, however, that the Party who originally contributed such data may share, sell or otherwise dispose of such data that does not pertain to a Prospect to a third party after the expiration of one (1) year from the date hereof, and the other Parties shall have no interest in the proceeds from such sale. Notwithstanding the foregoing, a Party may disclose seismic data to (A) a prospective purchaser or farmee of such Party's interest, provided (i) such disclosure is limited to the Prospect under consideration for sale or farmout, (ii) the prospective purchaser or farmee must review such data in the affected Party's offices and may not copy such datadata until such time as it has acquired or earned an interest in the Contract Lands, and (iii) such prospective purchaser or farmee must execute a confidentiality agreement to prevent further disclosure and unauthorized use of such data; or (B) a third party who is entitled thereto pursuant to the terms of a lease, lease option or seismic permit. Any Party may disclose such data to its agents, staff, representatives and consultants in the normal conduct of its business.

Confidentiality of Seismic Data. Except as provided below, each Party agrees to keep all seismic data obtained pursuant to Article 4.2 confidential for a period of seven (7) years from the date hereof. After the expiration of seven (7) years from the date hereof, any Party may sell the data it acquired pursuant to Article 4.2. Each Party owning an interest in such data shall receive its proportionate share of the proceeds of any such sale. Any data acquired from another Party pursuant to Article 4.1 shall forever be kept confidential by the Parties; provided, however, that the Party who originally contributed such data may share, sell or otherwise dispose of such data that does not pertain to a Prospect to a third party after the expiration of one (1) year from the date hereof, and the other Parties shall have no interest in the proceeds from such sale. Notwithstanding the foregoing, a Party may disclose seismic data to a prospective purchaser or farmee of such Party's interest, provided (i) such disclosure is limited to the Prospect under consideration for sale or farmout, (ii) the prospective purchaser or farmee must review such data in the affected Party's offices and may not copy such data, and (iii) such prospective purchaser or farmee must execute a confidentiality agreement to prevent further disclosure and unauthorized use of such data.. 4.4