Common use of Evaluation Area Clause in Contracts

Evaluation Area. The portion of the Contract Area in which THE CONTRACTOR makes a Discovery, and in which he decides to Perform an Evaluation Program in order to establish commerciality or lack of the same, in accordance with Clause 7. This area will be demarcated as a regular polygon on the surface, preferably four-sided, which will comprise the limits of the vertical projection on the surface of the geological structure which contains the Discovery.

Evaluation Area. The It is the portion of the Contract Contracted Area in which where THE CONTRACTOR makes made a Discovery, Discovery and in which where he decides has decided to Perform an carry out the Evaluation Program in order to establish commerciality or lack of the sameits commerciality, in accordance with pursuant to Clause 7. This area will shall be demarcated as framed by a surface regular polygon on the surfacepolygon, preferably four-sided, of four sides which will shall comprise the limits boundary of the vertical projection on the surface of the structure or geological structure which contains trap containing the Discovery.

Evaluation Area. The It is the portion of the Contract Contracted Area in which THE the CONTRACTOR makes has made a Discovery, discovery and in which he decides it has decided to Perform do carry an Evaluation Program out in order to establish commerciality determine whether or lack of the samenot it is commercial, in accordance with pursuant to Clause 7. This The area will shall be demarcated as comprised by a regular polygon on the surfacesurface polygon, preferably four-sidedof four sides, which will that shall comprise the limits sheathing of the vertical surface projection on the surface of the geological trap or structure which that contains the Discoverydiscovery.