EXPLORATION PERMITS Clause Samples

EXPLORATION PERMITS. 3.1 a) According to the Hydrocarbon Code, ONHYM and KOSMOS have filed jointly with the appropriate department of the Ministry in charge of Energy the applications for the Exploration Permits named “Tarhazoute Offshore 1”, “Tarhazoute Offshore 2”, “Tarhazoute Offshore 3” and “Tarhazoute Offshore 4”, more particularly described in Appendix II to this Agreement and which constitute the Area of Interest named “Tarhazoute Offshore”.

EXPLORATION PERMITS. 3.1.1 in accordance with the Hydrocarbon Code, ONHYM and KOSMOS have jointly filed with the appropriate department of the Ministry in charge of Energy the applications for the following Exploration Permits referred to as “Cap Boujdour Offshore I”, “Cap Boujdour Offshore II”, “Cap Boujdour Offshore III”, “Cap Boujdour Offshore IV”, “Cap Boujdour Offshore V”, “Cap Boujdour Offshore VI” “Cap Boujdour Offshore VII”, “Cap Boujdour Offshore VIII”, “Cap Boujdour Offshore IX”, “Cap Boujdour Offshore X”, “Cap Boujdour Offshore XI”, “Cap Boujdour Offshore XII”, “Cap Boujdour Offshore XIII”, “Cap Boujdour Offshore XIV” and “Cap Boujdour Offshore XV”, which together comprise the Area of Interest. 3.1.2 In accordance with the second paragraph of section 4 of the Hydrocarbon Law, the Participating Interests of the Parties in the Exploration Permits which will be granted to them by the Minister in charge of Energy are: ONHYM 25.00 % KOSMOS 75.00% 3.2 The Exploration Permits concern an initial approximate area of 29,740.7 km2 as delineated by their geographic co-ordinates as detailed in Appendix II attached hereto. 3.3 The Exploration Permits shall have an overall duration of eight (8) years comprising an Initial Period of eighteen (18) months followed by a First Extension Period of twenty four (24) months, a Second Extension Period of fifty-four (54) months divided into two Phases, with the First Phase being of thirty (30) months duration and the Second Phase being of twenty four (24) months duration, except if the Parties apply for the exceptional extension pursuant to section 24 paragraph 2 of the Hydrocarbon Law. 3.4 If during the last six (6) months of the First Extension Period or the First Phase of the Second Extension Period of the Exploration Permits, KOSMOS justifies the necessity to extend the duration of the above mentioned period or phase, in order to complete the Minimum Exploration Work Program which has already been commenced, then no later than two (2) months prior to the expiry of the First Extension Period or First Phase of the Second Extension Period, KOSMOS shall notify ONHYM of its request for an extension, which shall not be for a period of more than twelve (12) months and provided that the total duration of the Exploration Permits shall not exceed eight (8) years. 3.5 Applications for extensions of the Exploration Permits as well as for the reduction in surface area shall be made in accordance with sections 22 and 24 of the Hydrocarbon Law and sect...

EXPLORATION PERMITS. The Native Title Parties consent to the grant of an Exploration Permit to a Grantee Party and the exercise of rights and interests under the Exploration Permit by the Grantee Party provided that: (a) the Exploration Permit is granted: 1. for the purpose of exploring for opal only; 2. for a term no greater than 12 months; 3. for an area no greater than 4 sub-blocks if the Permit Area is to be inside Restricted Area 257; 4. for an area no greater than 8 sub-blocks if the Permit Area is to be outside Restricted Area 257; and 5. on the condition that a Grantee Party may only hold 2 Exploration Permits within the Area at any one time; (b) the Exploration Permit contains the Native Title Conditions for Exploration Permits; and (c) the Grantee Party has paid the amount required to be paid under clause 14 for the grant of an Exploration Permit.

EXPLORATION PERMITS. ▇▇▇▇ lsnard ---------------- . Old "B" type permit #21/93 : will have to be renewed before October ▇▇▇, ▇▇▇▇

EXPLORATION PERMITS. 3.1 (a) According to the Hydrocarbon Code, ONHYM, KOSMOS and CANAMENS have filed jointly with the appropriate department of the Ministry in charge of Energy the applications for the Exploration Permits named “ESSAOUIRA OFFSHORE I”, “ESSAOUIRA OFFSHORE II”, “ESSAOUIRA OFFSHORE III”, “ESSAOUIRA OFFSHORE IV”, “ESSAOUIRA OFFSHORE V”, “ESSAOUIRA OFFSHORE VI” and “ESSAOUIRA OFFSHORE VII” more particularly described in Appendix II to this Agreement and which constitute the Area of Interest named “ESSAOUIRA OFFSHORE”.

EXPLORATION PERMITS. The list of exploration permits set forth under the heading “Exploration Permits” in Schedule “B” is a complete and accurate list of all permits that have been received by the Company. All such permits are in good standing, are valid and enforceable and are free and clear of any material Liens or charges. There is no circumstance known to the Company by which the validity and good standing of such permits may be successfully challenged, or by which any government authority may lawfully suspend, terminate or revoke, in whole or in part, such permits. Such permits represent all exploration licences, certificates, authorizations or permits necessary to conduct the Company’s or its Material Subsidiaries’ business, as now conducted, except where the failure to possess such licences, certificates, authorizations or permits would not, individually or in the aggregate, result in a Material Adverse Effect; Such permits, together with such applications listed in Section 7(1)(jj), represent all exploration licences, certificates, authorizations or permits necessary to conduct the Company’s or its Material Subsidiaries’ business, as now conducted, except where the failure to possess such licences, certificates, authorizations or permits would not, individually or in the aggregate, result in a Material Adverse Effect;

EXPLORATION PERMITS. 3.1 (a) According to the Hydrocarbon Code, ONHYM, KOSMOS and PHVL have filed jointly with the appropriate department of the Ministry in charge of Energy the applications for the Exploration Permits named “FOUM ASSAKA OFFSHORE I”, “FOUM ASSAKA OFFSHORE II”, “FOUM ASSAKA OFFSHORE III” and “FOUM ASSAKA OFFSHORE IV” more particularly described in Appendix II to this Agreement and which constitute the Area of Interest named “FOUM ASSAKA OFFSHORE”.