Common use of END OF YEAR STATEMENT Clause in Contracts

END OF YEAR STATEMENT. 7.1.1 The Contractor shall prepare a definitive End of Year Statement. The Statement shall contain aggregatedinformation in the same format as required in the Production Statement, Value of Production and PricingStatement, Statement of income, but shall be based on actual quantities of Petroleum produced and income accrued. Based upon this Statement, any adjustments that are necessary shall be made to thetransactions concerned under the Contract.

END OF YEAR STATEMENT. 7.1.1 8.1 The Contractor shall prepare a definitive End of Year Statement. The Statement statement shall contain aggregatedinformation aggregated information in the same format as required in the Production Statement, Value of Production and PricingStatementPricing Statement, Statement of incomeCosts, Expenditures and Receipts and Royalty and Production Level Payments Statements but shall be based on actual quantities of Petroleum produced CBM produced, income received and income accruedcosts and expenditures incurred. Based upon this Statement, any adjustments that are necessary shall be made to thetransactions the transactions concerned under the Contract.