Exploration Costs. Exploration Costs are all direct and allocated indirect expenditures incurred in the search for Petroleum in an area which is, or was at the time when such costs were incurred, part of the Contract Area, including expenditures incurred in respect of:
2.2.1 Aerial, geophysical, geochemical, palaeontological, geological, topographical and seismic surveys, analysis and studies and their interpretation.
2.2.2 Core hole drilling and water Well drilling.
2.2.3 Labour, materials, supplies and services used in drilling Xxxxx with the object of finding Petroleum or in drilling Appraisal Xxxxx provided that if such Xxxxx are completed as producing Xxxxx or injection Well for enhancing Oil recovery, the costs of completion thereof shall be classified as Development Costs.
2.2.4 Facilities used solely in support of the purposes described in Sections 2.2.1, 2.2.2 and 2.2.3 above, including access roads, all separately identified.
2.2.5 Any Service Costs and General and Administrative Costs directly incurred on exploration activities and identifiable as such and a portion of the remaining Service Costs and General and Administrative Costs allocated to Exploration Operations determined by the proportionate share of total Contract Costs (excluding General and Administrative Costs and Service Costs) represented by all other Exploration Costs.
2.2.6 Geological and geophysical information purchased or acquired in connection with Exploration Operations.
2.2.7 Any other expenditures incurred in the search for Petroleum not covered under Sections 2.3 or 2.4.
Exploration Costs. Exploration Costs are those costs, whether of a capital or operating nature, which directly relate to Exploration and are incurred in respect of activities carried out substantially in accordance with an approved Exploration Work Programme and Budget, but without prejudice to sub-Article 4.7 of this Agreement, including costs of:
(a) drilling xxxxx (and related abandonment and site remediation thereof);
(b) surveys, including labour, materials and services (including desk studies and analysis of survey data) used in aerial, geological, geochemical, geophysical and seismic surveys, and core hole drilling;
(c) auxiliary or temporary facilities;
(d) workshops, power and water facilities, warehouses, site offices, access and communication facilities;
(e) floating craft, automotive equipment, furniture and office equipment; and
(f) if approved by the Designated Authority, employee and welfare housing, recreational, educational, health and meals facilities, and other similar costs necessary for Exploration.
Exploration Costs. For greater certainty, in calculating Net Profits at any time, each of the classes of Costs shall constitute a separate pool from which all Costs deducted on any previous quarterly calculation shall be removed and to which Costs of those classes recorded since the date of this agreement (in the case of the first quarterly calculation) or since the date of the last quarterly calculation (in the case of any calculation subsequent to the first quarterly calculation) shall be added.
Exploration Costs. Any and all direct, general and administrative costs incurred during Hydrocarbon Exploration and Appraisal activities in an area which is part of the Contract Area, including but not limited to:
(a) aerial, geophysical, geochemical, palaeontological, geological, topographical and seismic surveys and studies and their interpretation;
(b) core hole drilling;
(c) any labor, materials, supplies, and services used in drilling Exploration Xxxxx and Appraisal Xxxxx;
(d) any facilities used solely in support of the purposes described in paragraphs (a), (b) and (c) above, including access roads and acquired geological and geophysical data, all separately identified;
(e) any other cost incurred in the Exploration and Appraisal of Hydrocarbons after the Effective Date but prior to the date of approval of a Development and Production Plan with respect to the relevant Field and not covered under Articles 2.2, 2.3 and 2.4 below; and
(f) the costs incurred prior to the Effective Date which both Parties have agreed to, including the cost of the SBL, 2D, 3D speculative data and other costs of complying with Article 3.1.1 of the Contract.
Exploration Costs. Exploration Costs are those costs, whether of a capital or operating nature, which directly relate to Exploration and are incurred in respect of activities carried out substantially in accordance with an approved Work Programme and Budget for Exploration, but without prejudice to Article 4.9 of the Contract, including costs of:
(a) Drilling xxxxx (and related abandonment and site remediation thereof);
(b) Surveys, including labour, materials and services (including desk studies and analysis of survey data) used in aerial, geological, geochemical, geophysical and seismic surveys, and core hole drilling;
(c) Auxiliary or temporary Facilities used solely in support of the purposes described in paragraphs (a) and (b) above;
(d) Workshops, power and water Facilities, warehouses, site offices, access and communication facilities used solely in support of the purposes described in paragraphs (a) and (b) above;
(e) Floating craft, automotive equipment, furniture and office equipment for the purposes described in (a) and (b); and
(f) If approved by the Ministry, employee and welfare housing, recreational, educational, health and meals Facilities, and other similar costs necessary for Exploration.
Exploration Costs. Without limitation, Exploration Costs include costs of staking, mapping, chip sampling, geochemical sampling, assay costs, consultant fees, and expenses, drilling costs and related exploration activities, and a pro-rata share of salaries of geologists and other professionals related to programs. Specifically excluded from the definition of Exploration Costs are lease payments, governmental fees, costs of reclamation bonds, insurance, corporate overhead, legal and accounting fees and costs, and regulatory fees. Gold Run will pay all claim holding costs forty-five (45) days prior to the respective annual August 31 due dates. Gold Run will pay, thirty (30) days prior to the respective due dates, all required lease payments respecting properties in which Gold Run has an interest and from which properties Xxxxxxxxx is entitled to receive a production royalty as provided for herein.
Exploration Costs. Exploration Costs are all direct and allocated indirect expenditures incurred in the search for Petroleum in an area which is, or was at the time when such costs were incurred part of the Contract Area, including expenditures incurred in respect of :
2.2.1 Aerial, geophysical, geochemical, paleontological, geological, topographical and seismic surveys, analysis and studies and their interpretation.
2.2.2 Bore hole drilling and water Well drilling.
2.2.3 Labor, materials, supplies and services used in drilling Xxxxx with the object of finding Petroleum or in drilling appraisal Xxxxx provided that if such Xxxxx are completed as producing Xxxxx or Injection Well for enhancing Oil recovery, the costs of completion thereof shall be classified as Development Costs.
2.2.4 Facilities used solely in support of the purposes described in Sections 2.2.1, 2.2.2 and 2.2.3 above, including access roads, all separately identified.
2.2.5 Any Service Costs and General and Administrative Costs directly incurred on exploration activities.
2.2.6 Geological and geophysical information purchased or acquired in connection with Exploration Operations.
Exploration Costs. Exploration Costs are those costs, whether of a capital or operating nature, which directly relate to Exploration and are incurred in respect of activities carried out substantially in accordance with an approved Work Programme and Budget for Exploration, but without prejudice to Section 4.9 of the Contract, including costs of:
(a) drilling xxxxx (and related abandonment and site remediation thereof);
(b) surveys, including labour, materials and services (including desk studies and analysis of survey data) used in aerial, geological, geochemical, geophysical and seismic surveys, and core hole drilling;
(c) auxiliary or temporary facilities used solely in support of the purposes described in paragraphs (a) and (b) above;
(d) workshops, power and water facilities, warehouses, site offices, access and communication facilities used solely in support of the purposes described in paragraphs (a) and (b) above;
(e) floating craft, automotive equipment, furniture and office equipment for the purposes described in (a) and (b); and
(f) if approved by the Ministry, employee and welfare housing, recreational, educational, health and meals facilities, and other similar costs necessary for Exploration.
Exploration Costs. Each Obligor must not:
(a) incur exploration costs (other than non-discretionary costs and expenses in relation to staff salaries and annual expenditure commitments to the extent to which each of those payments is necessary to keep the Tenements in good standing) while any Event of Default is continuing; and
(b) incur exploration costs (other than non-discretionary costs and expenses in relation to staff salaries and annual expenditure commitments to the extent to which each of those payments is necessary to keep the Tenements in good standing) while any Review Event is continuing. Loan Note Subscription Agreement | DLA Piper | 97
Exploration Costs. Except to the extent otherwise restricted by Section 617 of the Code and the Treasury Regulations promulgated thereunder, AUC shall be allocated tax deductions arising from Exploration Costs up to Thirty-three Million ($33,000,000.00), but limited by the capital contributions made by AUC and as expended for qualifying exploration activities.
