Exploration Area refers to a portion of the contract area which has not been relinquished before the expiration of the exploration period and which is not included in a development area or a production area.
Exploration Area. (i) Minimum Work Programme:
(ii) Minimum Exploration Expenditure US$ [ ] million Seismic Data US$ [ ] million Drilling US$ [ ] million
Exploration Area. Seller agrees to make the additional expenditures and pursue the exploration program committed to in Section 2.1 in new areas outside of gas fields presently identified with a Field or Pool code by the Alaska Oil and Gas Conservation Commission. It is the intent of Seller to identify, develop, and produce new reserves from new fields, and to acquire and deliver new gas into the Xxxx Inlet area, including Anchor Point, Ninilchik and Xxxxx.
