Common use of Exploration Plan Clause in Contracts

Exploration Plan. In up to sixty (60) days of the date of creation of the Operating Committee, the Operator shall submit to the other Consortium Members the proposed Exploration Plan. In up to thirty (30) days as of the date of submission of the proposal, the Operating Committee shall analyze and resolve upon the Exploration Plan. In case the Exploration Plan is established by the Operating Committee, the Operator shall take the measures necessary for submitting it to ANP for analysis and approval. In case ANP requires changes in the Exploration Plan, the matter shall be submitted again to the Operating Committee for further analysis, following the procedures and deadlines established in the preceding paragraphs Notification of Discovery Any Discovery in the Contract Area shall be formally notified by the Operator to the other Consortium Members and to ANP within no more than seventy-two (72) hours. The notice shall be followed by all relevant data and information available.

Exploration Plan. In The Operator shall submit the proposed Exploration Plan to the other Consortium Members in up to sixty (60) days of the date of creation of the Operating Committee, . The Operating Committee shall analyze and resolve upon the Operator shall submit to the other Consortium Members the proposed Exploration Plan. In Plan in up to thirty (30) days as of the date of submission of the proposal, the Operating Committee shall analyze and resolve upon the Exploration Plan. In case the Exploration Plan is established by the Operating Committee, the Operator shall take the measures necessary for submitting it to ANP for analysis and approval. In case ANP requires changes in the Exploration Plan, the matter shall be submitted again to the Operating Committee for further analysis, following the procedures and deadlines established in the preceding paragraphs Notification of Discovery Any Discovery in the Contract Area shall be formally notified by the Operator to the other Consortium Members and to ANP within no more than seventy-two (72) hours. The notice shall be followed by all relevant data and information available.