Elections Prior to Platform Installation - Offshore Prospects. If Participant does not elect to participate in (a) the drilling of any well on an Offshore Prospect proposed by McMoRan to be drilled after the drilling of the first two (2) Exploratory Xxxxx thereon and prior to the installation of the first drilling and/or production platform on such Prospect or (b) Participant does not elect to participate in the installation of the first drilling and/or production platform on such Prospect, the Participant shall have no further rights hereunder as to the Prospect involved.
Appears in 5 contracts
Samples: Participant Agreement (McMoran Oil & Gas Co /De/), Participation Agreement (McMoran Oil & Gas Co /De/), Program Operating Agreement (Phosphate Resource Partners Limited Partnership)
