Common use of Discovery and Appraisal Notifications Clause in Contracts

Discovery and Appraisal Notifications. 9.1.1 If Petroleum Operations carried out by Contractor result in a Discovery, Contractor shall inform Staatsolie within twenty four (24) hours of such Discovery, followed by a notification within thirty (30) Days of the Discovery (the “Discovery Notice”), including all technical information data and interpretations available and the delineation of the Discovery Area. 9.1.2 As soon as possible after the analysis of the data and information from such Discovery but no later than one hundred (100) Days from the date of the Discovery Notice, Contractor shall by further notice inform Staatsolie whether or not in the opinion of Contractor the Discovery merits appraisal and if Contractor indicates that the Discovery does merit Appraisal shall simultaneously submit its Appraisal program. 9.1.3 Where Contractor indicates, within one hundred (100) Days from the Date of the Discovery Notice, that the Discovery does not merit Appraisal, Contractor shall, unless otherwise agreed between Contractor and Staatsolie and subject to Sub-Article 3.2, surrender the Discovery Area corresponding to such Discovery, and forfeit any rights relating to Development and Production there from. 9.1.4 The Operations Committee shall review and provide advice on the Appraisal work program to be carried out by Contractor in respect of such Discovery. The Operations Committee shall provide any proposed modifications within thirty (30) Days of receipt of Contractor’s proposal. Contractor will consider such modifications and re-submit the final Appraisal work program within thirty (30) Days of receipt such proposed modifications.

Discovery and Appraisal Notifications. 9.1.1 10.1.1 If Petroleum Operations carried out by Contractor result in a Discovery, Contractor shall inform Staatsolie within twenty four (24) hours of such Discovery, followed by a written notification within thirty (30) Days of the Discovery (the “Discovery Notice”), including all technical information data and interpretations available and the delineation of the Discovery Areaavailable. 9.1.2 10.1.2 As soon as possible after the analysis of the data and information from such Discovery but no later than one hundred twenty (100120) Days from the date of the Discovery Notice, Contractor shall by further notice inform Staatsolie whether or not in the opinion of Contractor the Discovery merits appraisal Appraisal and if Contractor indicates that the Discovery does merit Appraisal Appraisal, Contractor shall simultaneously submit its Appraisal programwork program and delineation of the Discovery Area to the Operations Committee. 9.1.3 10.1.3 Where Contractor indicates, within one hundred and twenty (100120) Days from the Date date of the Discovery Notice, that the Discovery does not merit Appraisal, Contractor shall, shall unless otherwise agreed between Contractor and Staatsolie and subject to Sub-Article 3.2Staatsolie, surrender the said Discovery Area corresponding to such Discovery, Discovery and forfeit any rights relating to Development and Production there from. 9.1.4 10.1.4 The Operations Committee shall review and provide advice on the Appraisal work program to be carried out by Contractor in respect of such Discovery. The Operations Committee shall provide any proposed modifications within thirty (30) Days of receipt of Contractor’s proposal. Contractor will consider such modifications and re-submit the final Appraisal work program within thirty (30) Days of receipt such proposed modificationsmodifications and such re-submission shall be deemed final.