Common use of Estimated Oil and Gas Reserves Clause in Contracts

Estimated Oil and Gas Reserves. Company has heretofore delivered ------------------------------ to Banks copies of all reports requested by Banks (prepared by independent consulting engineers), which have been obtained by Company and concern the estimated Proved Reserves and future net revenues attributable to the Mineral Properties. The statements of fact contained in said reports with respect to the character and ownership of the Mineral Properties (including, without limitation, the respective revenue interest and working interest of Company in the Mineral Properties as stated therein) and the other factual data furnished by Company as a basis for the estimates set forth therein are true and correct in all material respects and do not omit any material fact necessary to make said statements not misleading.

Estimated Oil and Gas Reserves. Company has heretofore delivered ------------------------------ to Banks copies of all reports requested by Banks (prepared by independent consulting engineers), which have been obtained by Company and concern the estimated Proved Reserves and future net revenues attributable to the Mineral Properties. The statements of fact contained in said reports with respect to the character and ownership of the Mineral Properties (including, without limitation, the respective revenue interest and working interest of Company in the Mineral Properties as stated therein) and the other factual data furnished by Company as a basis for the estimates set forth therein are true and correct in all material respects and do not omit any material fact necessary to make said statements not misleading.